Guide to real estate in Texas

The COVID-19 pandemic has set the Corpus Christi housing market on fire along with the rest of the nation.

This is not what real estate agents expected. They predicted that the pandemic would shatter the market, bringing more woes to an already struggling economy.

However, it opened a door of opportunity for many. More and more people are working remotely and moving from cities with high cost of living to areas with more affordable housing, like Corpus Christi.

So what should you know if you are buying a home in Corpus Christi, especially if it is your first home?

Here are some tips from local realtors Gene Guernsey and Candy Crisman-Lopez:

What do I look for in a real estate agent and mortgage loan officer?

Do your research and find a solid real estate agent and mortgage loan officer who will walk you through the process. Your agent should educate you on the types of expenses you can incur as a landlord rather than a tenant. An example is what to know about necessary maintenance or repairs at home.

Your mortgage agent should get it all on the table. This includes the different types of loans, the down payment they would need, the interest rate they will be associated with, and which one would get you the best monthly payment.

Your agent should also help you review state or federal government assistance programs for buying a home. There are programs that can even give you a grant to help you with your down payment if your income is below a certain level. However, these programs may come with higher interest rates.

Are you looking to buy a house in Corpus Christi?  You will need to start with a strong real estate agent and mortgage loan officer.

How do I determine the amount of my deposit?

Your mortgage agent should walk you through this process. Your down payment is highly dependent on the type of loan you choose. These include the ordinary conventional loan as well as loans guaranteed by the government by the Federal Housing Administration, the Ministry of Veterans Affairs and the Ministry of Agriculture.

Each type of loan has different conditions and requirements. For example, an FHA loan requires a minimum down payment of 3.5% of the price of the house. Most conventional loans encourage a 20% down payment.

First-time buyers are taking advantage of the low interest rates in the Corpus Christi real estate market.

Essential tips for buying a house in Corpus Christi:

Don’t be put off by high house prices. Now may be the time to buy a home because of low interest rates, which allow for larger mortgages. Prices are expected to stay high for some time. And interest rates will eventually go up, which will increase your monthly payments.

Get pre-approved for a mortgage before you make your offer. This is the most important thing in negotiating a real estate transaction.

Be strong on the price and base it on recent comparable sales in the neighborhood. And be firm on the terms of the offer to make the seller feel good. Don’t include a lot of closing cost contributions or repair allowances.

Always have the house inspected. This is one of the biggest investments you are going to make, and you need to know exactly what you are buying.

First-time buyers are taking advantage of the low interest rates in the Corpus Christi real estate market.

Learn more about the Corpus Christi real estate market:

A manual :Here’s What You Need To Know About Buying Or Selling A Home In The Corpus Christi Area

The market:Home price appreciation in Corpus Christi is collapsing. Is the market cooling down?

Kathryn Cargo tracks business openings and developments while reporting on the impacts of city government decisions.Check out our subscription options and special offers at

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