Bank of Cadiz and Trust Company Reviews

Disclosures from Bank of Cadiz and Trust Company indicate that its rates for 30-year fixed-rate mortgages start at 7.75% as of the time of publishing. For reference, the national average 30-year fixed-rate mortgage is 6.46%, according to Freddie Mac.

Bank of Cadiz and Trust Company publishes its current rates for loans on its website. For the most accurate rates based on your individual situation, contact Bank of Cadiz and Trust Company or get prequalified on its website.

Mortgage rates vary based on your credit history, the type of loan, the loan amount, your down payment and the loan term.

Bank of Cadiz and Trust Company offers a variety of mortgage products, including:

• HELOC
• Construction

Bank of Cadiz and Trust Company loan maximum

In most of the country, conforming loan limits in 2024 are $766,550 for single-unit properties. In Alaska and Hawaii, the limit is $1,149,825. Limits in high-cost counties in the other 48 states can be above $766,550 but are never higher than $1,149,825.

Below are the basic requirements borrowers must meet to take out a loan with Bank of Cadiz and Trust Company.

Bank of Cadiz and Trust Company minimum credit score

The minimum credit score requirement for a loan from Bank of Cadiz and Trust Company depends on the type of loan you apply for:

• 620 for a HELOC loan
• 680 for a construction loan

Even if you can’t meet these credit score requirements, you might be able to apply for a nonqualified mortgage through another lender. Note that this will likely result in a higher interest rate.

Bank of Cadiz and Trust Company minimum down payment

The minimum down payment for Bank of Cadiz and Trust Company depends on the loan type:

• 0% for a HELOC loan
• 10% for a construction loan

Conventional loans typically require a higher credit score and down payment than you need for a government-backed mortgage, but individual cases may differ.

Bank of Cadiz and Trust Company maximum debt-to-income ratio

Bank of Cadiz and Trust Company recommends that all borrowers have a debt-to-income (DTI) ratio of no more than 43%. Bank of Cadiz and Trust Company’s maximum DTI ratio depends on the loan type and your financial situation.

For reference, most lenders issue conventional loans to those with a DTI ratio below 36%, but some mortgage lenders and loan types allow for a DTI ratio of up to 45%. Some FHA-insured loans may even allow for a DTI ratio of up to 50%.

Bank of Cadiz and Trust Company’s application can be completed online, by phone or in person. Be prepared to provide information about your income and assets so that Bank of Cadiz and Trust Company can determine how much you can borrow.

Bank of Cadiz and Trust Company application features

» LEARN: How to get a mortgage

You can expect to pay from 0.5% to 1% of the loan in origination fees as part of your closing costs with Bank of Cadiz and Trust Company. This fee can vary, but we recommend that you plan to spend between 2% and 5% of your loan amount in closing costs on top of your down payment.