Best Conventional Mortgages in Texas
Make Your Dream Home A Reality
We Simplify the Conventional Mortgages in Texas for you!
We are reinvigorating every American’s dream of owning a house, which is easier now than ever with lucky home loans. We have a team of qualified loan officers with over a decade of experience in helping investors seize the right opportunity for conventional mortgages in Texas. If you want to secure your future, lucky home loans are your gateway to that dream. Our rich insights about conventional mortgage lenders in Texas would help you close the best deals under the best possible terms!
How Conventional Mortgages Work?
Conventional loans are commonly obtained against a mortgage from a private financing institution such as private banks, credit unions, and mortgage companies, which have no connections with government-backed financing institutions. Nevertheless, only two government-sponsored enterprises work as conventional mortgage lenders in Texas: the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). You have to comply with conventional loan requirements Texas’s private lenders specify in policies. With the right mortgage broker assistance, rate bargain, and flexible terms and conditions, you can avail yourself of the best Conventional Mortgages in Texas.
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Check Your Eligibility for Conventional Mortgages in Texas!
In order to qualify for loan application, you have to comply with the following conventional loan requirements in Texas:
- You need to meet the minimum credit score set by the lending institution. Currently, private financing institutions prefer a credit score of 620.
- A considerable debt-to-income ratio, minimum specified approx. 45%.
- Have a Clear and sorted history of credit reports.
- A down payment rate according to the policies of the lending institution.’ Down payment is as low as 3% if your loan is secured with a mortgage and as high as 20% if you don’t have a mortgage.
- Stable Employment History is a plus point. Even if you are self-employed, at least 3 to 4 years of consistent revenue streams are required to ensure your creditworthiness.
Have Plans for a Conventional Home Loan in Texas?
Lucky Home Loans is your trusted Partner in navigating the process!
Our mortgage brokers assist in all forms of conventional home loan in Texas. We help you get the best lending option for you. Remember, the right choice is always the one that meets conventional loan requirements under lucrative terms and a convenient process; if not, we are here to make it work for you.
Conforming conventional loans
Fixed Rate Loans
Adjustable-rate loans
Subprime loans
Jumbo loans
Portfolio loans
Amortized commercial loans
Let Our Mortgage Brokers Help You with conventional loan requirements in Texas?
Our team of specialized Conventional mortgage brokers assist you with a complete turnkey process from the moment you plan for a house loan till the moment you have it in your possession with papers. Lucky Homes brings a fruitful result out of your hard-earned savings. With our highly skilled loan officer at your service, buying a home with a loan is now seamless and easy; yes, we make the process easy for you. Want to know how?
- Complete guidance throughout the process of loan application
- Assess the Borrower’s Needs and financial situation
- Collecting information on the best conventional mortgage lender in Texas
- Analyze and explain multiple lender’s requirements
- Negotiate terms & requirements with the best lenders and choose the best option in your favor
- Works as a liaison or intermediary between the conventional loan lender and the borrower
- Assist with legal documentation for conventional home loan in Texas before and after the application
Why Conventional Loan is your best choice?
- You have an option for mortgage insurance.
- You can choose from flexible options for a mortgage, interest, and other terms.
- You can have lower interest rates
- They have lower application fees and an easier process than FHA.
- If you have a good credit score, it’s the perfect option for you.
FAQ’s
The interest rate may vary as per the plan and per the length of the period you choose for a repayment plan. Besides that, if you have already made a good downpayment and have a good credit score, your profile is fit for a negotiable interest rate.
The current Loan-to-Value percentage for conventional mortgages in Texas is 80%. However, the LTV value depends on the profile of each borrower and his creditworthiness. You can avail yourself of as much as 97% of the home value as a loan.
According to recent policies set by Fannie Mae and Freddie Mac, the conforming loan limit is $766,550, which is a $40,350 increase from last year’s loan limit.