Conventional loans in Texas--conventional loans can almost be defined by what they are not:  they are not government loans (FHA, VA, USDA) and they are not Jumbo loans ($417,000+ for single family properties in Texas.)  Fannie Mae and Freddie Mac define the conventional, "conforming" market. 

The minimum down payment can be as low as 3%, and you will need PMI (private mortgage insurance) unless you put down 20%.  Terms can go as high as 30 years, but we can do shorter.  Property types are 1-4 family, qualifying condominiums, and town houses.   

You can use these loans for owner-occupied, second homes, or even investment properties.  Interest rates are at market levels, with adjustments for credit scores, loan and property types, and even loan terms.  Generally, a minimum credit score is 680 for owner occupied properties, but you should call us to see where you stand.

We can avoid PMI by combining your first lien with a small 2nd lien, but PMI can be cancelled in the future when you reach 80% ltv. 

Conventional and FHA loans have different guidelines, and you might fit better into one or the other program.  It is so important to work with an experienced loan officer, such as Don and Barbara Coker, to make sure you have the best loan for your personal situation! 

Call us at 210-842-4185 for advice and your free credit report.  Don't take a chance on being short-changed by an inexperienced loan officer, or "order taker" at a bank.