Capital Home Mortgage Texas

Texas Conventional Home Loans

Conventional Mortgage Lender Texas

Conventional Home Loans Texas

When it comes to financing the purchase of your new home, you have several options depending on your income, debt, credit history, and other factors. While each loan type has advantages and disadvantages, the conventional loan remains the most popular home loan option for both new and repeat homebuyers.

What Is A Conventional Loan?

A conventional loan is any mortgage loan not guaranteed by the government (i.e., FHA, VA, or USDA). Most conventional loans nowadays are considered “conforming loans” because they are written per the guidelines established by Fannie Mae or Freddie Mac – agencies that work to standardize mortgages in the United States. 

The maximum conforming loan amount for 2022 is up to $647,200 in most parts of the country and up to $970,800 for high-cost areas.

Requirements for a Conventional Loan in Texas

Like all other types of mortgages, the requirements for conventional loans can vary from lender to lender, but they generally follow the exact minimum requirements:

  • Down payment: 

A conventional mortgage may require a sizable down payment. Depending on your credit history and other factors, you can expect to put anywhere between 3% and 20%. A larger down payment, however, may lower your interest rate and save you from paying private mortgage insurance (PMI).

  • Credit score: 

Regardless of how much you put down, lenders will consider your credit score when deciding whether or not to approve your mortgage. 

A credit score tells lenders how likely you are to repay a loan. Borrowers with higher credit scores are often regarded as less risky by lenders and have higher chances of qualifying for a conventional mortgage with better terms. Conventional loans require a FICO score of 620 to qualify.

  • Debt-to-income ratio: 

Your debt-to-income ratio also plays a critical role in the approval (or rejection).

Your DTI shows lenders how much of your income goes to debt payments, so they know you’re not taking on more debt than you can handle. The lower your DTI, the better. In most cases, conventional loan lenders prefer a DTI of 43% or less.

  • Closing costs: 

Borrowers must also consider out-of-pocket expenses during the closing of the loan. The closing costs for a conventional loan can be more than other kinds of mortgages. You may be required to pay appraisal fees, origination fees, and – If your down payment is less than 20% – you will almost certainly be required to pay private mortgage insurance.

Do you want to know if you qualify for Texas conventional home loan? Pre-qualify with Capital Home Mortgage today!

Private Mortgage Insurance

One of the best things about conventional loans is that they offer greater flexibility in mortgage insurance. Mortgage insurance helps to protect the lender from a possible default. Because it is risk-based, a lower down payment can significantly increase your monthly mortgage payments due to a higher PMI.

Most government loan programs require mortgage insurance, some for the life of the loan. Conversely, conventional loans will require private mortgage insurance if your down payment is less than 20%. Moreover, you can request that your mortgage insurance be removed if you’ve already paid more than 20% of your home’s equity.

We strongly suggest putting up a 20% down payment to avoid paying mortgage insurance on your conventional home loan.

Is A Conventional Loan Your Best Choice?

Conventional home loans can be an excellent option for borrowers with good credit, a solid financial history, and enough money for a down payment.

However, other types of mortgages have their advantages as well. If you are purchasing your first home, loan programs are available to make the process easier and more affordable.

Capital Home Mortgage is a direct mortgage lender in Texas that provides home loans to many buyers, from first-time buyers to those looking into refinancing their homes. Contact us at (800) 960-4565 if you want to learn more about conventional home loans, and we’ll gladly walk you through the application process.

Why Texas 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

Texas 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

Texas Conventional Purchase Loans

Conventional Purchase Mortgage 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.  

  • 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 & Fleixble Terms
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Texas Conventional Refinance Loans

Conventional Refinance Mortgage Lender

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 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)

Texas Conventional Renovation Loans

Conventional Renovation Mortgage Loans

Want a new home? Don’t want to purchase a home from a builder?  Prefer the charm of an older home, or the elegance of a mature neighborhood… Or just want the perfect location close to town.  Making your dream home come true might just be updating that older home. 

  • 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

Texas Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Director Native American Lending
Director Manufactured Housing

Texas Mortgage Company Reviews

Texas Cities

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