Capital Home Mortgage Brownsville

BROWNSVILLE Conventional Home Loans

Brownsville Conventional Mortgage Lender

Brownsville Conventional Home Loans

Conventional loans are so prevalent that you probably heard about them long before purchasing a home. But while many people are aware that they’re a type of mortgage, very few first-time homebuyers know what conventional loans entail or how to determine if it is the right choice for their situation.

What is a Conventional Loan?

A conventional loan is a mortgage loan that a government agency does not back. Instead, they are originated, backed, and serviced by private mortgage lenders like banks, credit unions, and other financial institutions. 

While conventional loans may not provide the same benefits as government-guaranteed loans like the FHA, VA, and USDA loans, they remain the most common and widely-used type of mortgage. Conventional loans comprise  76% of all new home sales in the second quarter of 2021. 

Different Types of Conventional Loans

There are two types of conventional loans: Conforming and non-conforming loans. Knowing the difference between the two will help you determine which type can better serve your home-buying needs and requirements.

  1. Conforming-Conventional LoansConforming loans are home loans that meet the guidelines set by Fannie Mae and Freddie Mac, two government-sponsored enterprises that purchase mortgages from lenders. One of the essential guidelines set by Fannie Mae and Freddie Mac is the conforming loan limit (CLL) – the maximum amount you can borrow. This can differ based on the location of the property you wish to purchase. In 2022, the Conforming Loan Limits in most of the United States is $647,200 for one-unit properties and $970,800 for one-unit properties in high-cost areas.
  2. Non-Conforming Conventional Loans, on the other hand, are the opposite of conforming loans. They exceed the loan limit and, for this reason, will not be purchased by Fannie Mae or Freddie Mac.

Non-conforming loans are funded by lenders and private institutions and are suitable for homebuyers looking to purchase a property that’s priced beyond the CLL. But because these loans are riskier for lenders, they have very stringent qualification requirements, especially in terms of credit and income.

Conventional Loan Requirements

Conventional loan requirements, like all other types of mortgages, can vary depending on the lender, but they generally follow the exact basic requirements:

  • Down payment: 

Depending on your credit history and other factors, a conventional mortgage may require a down payment ranging from 3% to 20%. On the other hand, putting a larger down payment may lower your interest rate and keep you from paying private mortgage insurance (PMI).

  • Credit score: 

Your credit score tells the lender how likely you are to repay a loan. Borrowers with high credit scores are often regarded as less risky by lenders and have a better chance of getting approved for a conventional mortgage with better terms.

  • Debt-to-income ratio (DTI): 

Your DTI shows lenders how much of your income goes toward debt payments. Before they grant you a loan, lenders need to ensure you’re not taking on more debt than you can handle. Private mortgage lenders prefer borrowers with a DTI of 43% or lower.

  • Closing costs: 

The closing costs for a conventional loan can be higher than most types of mortgages. Don’t forget to ask about and prepare for appraisal fees, origination fees, and private mortgage insurance (if your down payment is less than 20%).

Need Help With Your Mortgage?

There’s no right mortgage loan for everyone, so it’s important to learn about the different types of home loans available to you. Conventional loans are flexible and can save you thousands of dollars in mortgage insurance. They are not for people with poor credit. Lenders are taking more risks by originating conventional loans, so you should expect them to scrutinize your financial situation.

If you’re looking for a Brownsville mortgage company that can help you understand mortgages so you can make a confident decision, turn to Capital Home Mortgage! As a direct mortgage lender in Brownsville, Texas, we can help make the entire process faster and more convenient! We’ve helped hundreds of thousands of people smartly finance their homes.

Why Brownsville HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Brownsville Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Brownsville Conventional Purchase Loans

Conventional Purchase Mortgage Lender
  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • MAXIMUM LOAN AMOUNT – $766,550

Brownsville Conventional Refinance Loans

Conventional Refinance Mortgage Lender
  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • Mortgage Insurance Options
  • Lower Rates & Flexible Terms
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Brownsville Conventional Renovation Loans

Conventional Renovation Mortgage Loans
  • 95% LTV Primary  Residence
  • 97% LTV 1st Time Buyer Single Family
  • 85% LTV on 1 Unit Investment
  • 90% LTV on Second Home
  • Minimum Credit Score 620
  • Luxury Renovations are Eligible
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)
Texas Mortgage Programs

Texas Home Purchase

Thinking of Buying a Texas Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Texas renovation home loans

Looking to Rehab a Texas Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Texas FHA Home Loans

Great for 1st Time Texas Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Texas VA Home Loans

100% Financing for Texas Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Texas Conventional Home Loans

Flexibility for Texas Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Texas Jumbo Home Loans

Texas Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Texas USDA Home Loans

100% Rural Texas Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Texas Native American Home Loans

Texas HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Texas Manufactured Home Loans

Great Alternative Texas Housing

Texas reverse mortgages

Your Texas Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Texas Non QM Home Loans

Making Texas Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Texas One Time Close mortgages

Build Your Texas Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Texas Refinance Mortgage Loans

Texas Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Texas Cash-out Home mortgages

Texas Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Brownsville Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Jordan Mowrey

SR Loan Officer
NMLS 210325

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