Capital Home Mortgage College Station

College Station Conventional Home Loans

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College Station Conventional Mortgage Lender

College Station Conventional Home Loans

If you’ve been researching home loans in College Station, you’ve come across the Conventional mortgage. It’s the most common home loan program in the United States. 

This type of loan is not insured or backed by any government institution. Instead, it is made available through private lenders, such as mortgage companies, banks, and credit unions. However, government-sponsored corporations like the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) may guarantee conventional loans.

At Capital Home Mortgage, we provide Conventional home loans with terms tailored to your situation. We pride ourselves on delivering a straightforward loan application process with expert guidance every step of the way. 

Basic Loan Eligibility Requirements?

Since there is no government-backed security to the loan, conventional loans have stricter requirements. These include:

  • Minimum Credit Score

You can qualify for a conventional loan if your credit score is 620. A higher credit score can give you lower interest rates and favorable terms. If your credit score is less than 620, consider going for an FHA home loan

  • Debt-to-Income Ratio

The ideal debt-to-income ratio for a conventional loan should be between 36% to 43%. A high DTI might indicate that you have too much debt. However, having several tangible assets in your name may compensate for a high DTI.

  • Down Payment

The minimum percentage of the down payment for conventional loans varies from 3% to 5%. However, while a low down payment is enticing, an initial down payment below 20% of the loan value will require you to get private mortgage insurance. These premiums will be part of your monthly amortization.

  • Proof of Income

Aside from basic requirements, you will be asked to provide documents that show your income sources. Some of the commonly requested documents include:

  1. 30 days of pay stubs;
  2. Two years’ worth of W-2 statements;
  3. Two years’ worth of income tax returns (self-employed or 1099 employee);
  4. Year-to-date profit and loss statement (self-employed or 1099 employee).
  • Assets

All borrowers must provide where the source of funds to close is coming from, plus reserves. A copy of your last two months’ bank statements and your most recent retirement account statements are required as proof of funds.

If a family member or relative is helping you with the down payment, you may submit a gift letter to indicate that the amount given is a donation, not a personal loan. The donor must also provide a copy of their bank statement to show where the funds are coming from.

  • Identification

Lenders will require proof of identification; they will need a valid driver’s license or state-issued ID and a copy of your social security card or passport. 

Get A Conventional Home Loan In College Station

Capital Home Mortgage can help you secure a conventional home loan in College Station with competitive interest rates and low fees. Our status as direct mortgage lenders has put us in the best position to provide a hassle-free loan process with quick approvals. 

Let us help make your dream of homeownership in College Station a reality today. Contact us at (979) 393-0049 to get started with a no-obligation quote

Why College Station is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great College Station Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

College Station Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

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

College Station Conventional Purchase Loan

Conventional Purchase Loans are one of the most popular types of loans and a great choice for many home buyers. Conventional mortgages can be used to purchase any type of occupancy, while FHA, USDA, VA and Native American Loans are restricted to primary residence only. Conventional mortgages are great for borrowers that have higher credit scores and typically have easier qualifying.  

Conventional Mortgage Benefits

  • Freddie Mac and Fannie Mae Insured
  • Primary, Second or Investment Property
  • Single and Multi Family, Condo’s & Manufactured Homes
  • Mortgage Insurance Options
  • Lower Rates and Better Terms
  • Maximum Loan Amount – $715,000
  • Conforming High Balance – By Area

Conventional Mortgage Maximum Loan to Values

Primary Residence

  • Single Family – 95% First Time 97% 
  • Duplex – 85%
  • Tri / 4 Plex – 80%
  •  

Secondary Residence

  • Single Family – 90%
  • Duplex – N/A
  • Tri / 4 Plex – N/A
  •  

Investment Residence

  • Single Family – 85%
  • Duplex – 75%
  • Tri / 4 Plex – 75%

Home Purchase
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Conventional Refinance Lender

Conventional Purchase Loans are one of the most popular types of loans and a great choice for many home buyers. Conventional mortgages can be used to purchase any type of occupancy, while FHA, USDA, VA and Native American Loans are restricted to primary residence only. Conventional mortgages are great for borrowers that have higher credit scores and typically have easier qualifying.  

Conventional Mortgage Benefits

  • Freddie Mac and Fannie Mae Insured
  • Primary, Second or Investment Property
  • Single and Multi Family, Condo’s & Manufactured Homes
  • Mortgage Insurance Options
  • Lower Rates and Better Terms
  • Maximum Loan Amount – $715,000
  • Conforming High Balance – By Area

Conventional Mortgage Maximum Loan to Values

Primary Residence

  • Single Family – 95% First Time 97% 
  • Duplex – 85%
  • Tri / 4 Plex – 80%
  •  

Secondary Residence

  • Single Family – 90%
  • Duplex – N/A
  • Tri / 4 Plex – N/A
  •  

Investment Residence

  • Single Family – 85%
  • Duplex – 75%
  • Tri / 4 Plex – 75%

College Station Conventional Refinance Loan

Conventional Highlights

Conventional Refinance Loans are used for more refinances than any other type of mortgage loan.   This is due to Conventional loans allowing for all occupancy and property types and typically don’t require any mortgage insurance due to loan to value requirements. Conventional mortgages due require higher credit scores but offer better rates.  

  • Freddie Mac and Fannie Mae Insured
  • Primary, Second or Investment Property
  • Single, Multi-Family, Condo’s & Manufactured Homes
  • Rate and Term

Primary Residence

  • Single Family – 95% 
  • Duplex – 85%
  • Tri / 4 Plex – 80%

Secondary Residence

  • Single Family – 90% 
  • Duplex – N/A
  • Tri / 4 Plex – N/A

Investment Residence

  • Single Family – 85% 
  • Duplex – 75%
  • Tri / 4 Plex – 75%

Cash Out Refinance

Primary Residence

  • Single Family – 80% 
  • Duplex – 75%
  • Tri / 4 Plex – 75%

Secondary Residence

  • Single Family – 75% 
  • Duplex – N/A
  • Tri / 4 Plex – N/A

Investment Residence

  • Single Family – 75% 
  • Duplex – 70%
  • Tri / 4 Plex – 70%
Mortgage Conventional Refinance Lender

Conventional Highlights

Conventional Refinance Loans are used for more refinances than any other type of mortgage loan.   This is due to Conventional loans allowing for all occupancy and property types and typically don’t require any mortgage insurance due to loan to value requirements. Conventional mortgages due require higher credit scores but offer better rates.  

  • Freddie Mac and Fannie Mae Insured
  • Primary, Second or Investment Property
  • Single, Multi-Family, Condo’s & Manufactured Homes
  • Rate and Term

Primary Residence

  • Single Family – 95% 
  • Duplex – 85%
  • Tri / 4 Plex – 80%

Secondary Residence

  • Single Family – 90% 
  • Duplex – N/A
  • Tri / 4 Plex – N/A

Investment Residence

  • Single Family – 85% 
  • Duplex – 75%
  • Tri / 4 Plex – 75%

Cash Out Refinance

Primary Residence

  • Single Family – 80% 
  • Duplex – 75%
  • Tri / 4 Plex – 75%

Secondary Residence

  • Single Family – 75% 
  • Duplex – N/A
  • Tri / 4 Plex – N/A

Investment Residence

  • Single Family – 75% 
  • Duplex – 70%
  • Tri / 4 Plex – 70%

College Station Conventional Renovation Loan

  • Up to 97% LTV of “As-Completed”
  • Owner-occupied 1–4 unit Primary 
  • Owner-occupied 1–4 unit Condos 
  • 85% LTV on a 1-unit Investment 
  • 90% on a 1-unit Second Home
  • Credit Scores Down to 620
  • Luxury Renovations are Eligible
Renovation Freddie Mac Choice Home Lender
  • Up to 97% LTV of “As-Completed”
  • Owner-occupied 1–4 unit Primary 
  • Owner-occupied 1–4 unit Condos 
  • 85% LTV on a 1-unit Investment 
  • 90% on a 1-unit Second Home
  • Credit Scores Down to 620
  • Luxury Renovations are Eligible
Not Sure? Take a Look at Other College Station Mortgage Programs

College Station Mortgage Team

Conor Hayhurst

Manager
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

chris erwin

Sr Loan Officer
NMLS 914064

Dale Gremillion

Manager
NMLS 210325

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