Affordable Texas Conventional Home Loans

Conventional Loans

Conventional home loans are one of the most popular types of loans in Texas and a great choice for many home buyers. Texas conventional mortgages can be used to purchase primary, secondary, and investment properties.

While conventional loans come with more rigorous standards than most government-backed loans, they offer several unique benefits that make them a good mortgage option for some first-time homebuyers, people with good credit and/or people with a larger down payment and/or good equity. 

Conventional Loan Guidelines

2024 Texas Guidelines

* Freddie Mac and Fannie Mae Insured
* Primary, Second, or Investment Property
* Single, Multi-family or Condo
* High Balance – 95% Loan to Value
* 97% Loan to Value
* Mortgage Insurance Options
* Lower Rates & Better Terms
* Manufactured Housing OK (Subject to Restrictions)

Conventional mortgages are ideal for borrowers that have higher credit scores and have different criteria as the loans are guaranteed by Fannie Mae or Freddie Mac. As such, conventional loans usually require less documentation than VA loans, FHA loans, or USDA loans which makes for easier qualifying.  

Conventional Loan Advantages

Why are conventional mortgages so popular in Texas? 

• You can avoid private mortgage insurance (PMI)

• You can select a term length that works for you

• Loans are processed quickly

• Flexible down payment options

If you want to purchase a home this year, you may be able to qualify for a Texas conventional loan. Here’s what you need to know about applying and qualifying for a conventional loan in Texas.