Capital Home Mortgage Houston

Houston Conventional Home Loans

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Houston Conventional Mortgage Lender

Houston Conventional Home Loans

If you’re looking to finance a home purchase but are not eligible for government-insured home loans, you’ll likely need a conventional loan. A conventional home loan is a primary source of financing for people with decent credit scores, stable income and employment, and good credit history. These loans don’t have government backing like FHA, USDA, and VA loans

Capital Home Mortgage offers conventional loans in Houston for both new and repeat homebuyers. 

To learn more about our conventional home loan program, contact our loan specialists to discuss this mortgage product with you in greater detail.

Conventional Loan Requirements

Since conventional loans aren’t government-insured, we require higher qualification requirements to compensate for the risks of borrowing. If you can’t tick off most of the requirements below, we recommend choosing a government-insured loan program like FHA or USDA.

1) Proof of Income

Your capacity to pay monthly mortgage payments depends on your income. We accept employed and self-employed individuals as long as the following documents are presented:

  • Most recent thirty days of pay stubs;
  • Last two years of W-2 statements;
  • Two years of personal and business tax returns, if self-employed;
  • Previous two years 1099s;
  • Year-to-date Profit and Loss Statement, if self-employed;
  • Social security benefits letter, if applicable;
  • Copy of final divorce decree, if applicable.

If you have other sources of income, we might require you to submit additional proof or documentation.

2) Employment Verification

For employed applicants, we might call your employers to verify your employment history and salary. Self-employed applicants will be required to submit additional paperwork that supports their business and income. A letter from the CPA who prepared the last two years’ tax returns may be necessary.

3) Assets & Reserves

Bank statements of your savings, checking, or investment account are requirements to prove that you have enough cash for the down payment and closing costs. In a conventional loan, you will shoulder out-of-pocket expenses that you can’t refinance to the loan. We highly recommend that you set aside cash for closing costs or haggle with the seller of the house regarding who will shoulder closing costs. On top of the funds for closing, all borrowers must also show asset reserves.

All borrowers are required to provide the following asset documentation:

  • Last two months’ bank statements;
  • The most recent retirement account statement, 401k, IRA, etc.

4) Satisfactory Credit History 

Your credit score is an essential requirement in the loan application process. Regardless of how large you can put as a down payment, a low credit score may impact the success of your application. 

As a minimum requirement, the credit score for a conventional loan should be at least 620, but a higher score is preferred for higher chances of approval. If your credit score is below 620, we recommend considering FHA loans.

Conventional Loan Limits

Fannie Mae and Freddie Mac set loan limits to standardize mortgages in the United States. Every year, loan limits change. 

For 2022, you can borrow up to $647,200 for a one-unit property for the Contiguous States, the District of Columbia, and Puerto Rico. The maximum baseline for Alaska, Guam, Hawaii, and the U.S. Virgin Islands is $970,800.

Get a Home Purchase Loan at Capital Home Mortgage in Houston

Please speak to our loan officers today about your Conventional home loan in Houston. Our commitment at Capital Home Mortgage is to provide the best mortgage service to clients. And since we are a direct mortgage lender, we can deliver a more streamlined loan process from application to funding. 

Give us a call at (281) 674-7372 to get started with a no-obligation quote.

Why Houston is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Houston Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Houston Customer Service

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

Houston Mortgage Rates

Houston 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.  

  • 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
  • 97% Loan to Value – Conforming – 715,000 Max Loan
  • 95% Loan to Value – High Balance
  • Primary Residence
    • Single Family – 95%  ( 97% First Time Buyer )
    • Duplex – 85%
    • Tri / 4 Plex – 80%
  • Second Home
    • Single Family – 90% 
    • Duplex – N/A
    • Tri / 4 Plex – N/A
  • Investment Property
    • Single Family – 85% 
    • Duplex – 75%
    • Tri / 4 Plex – 75%
Know Your Buying Power
Cash-Out or Save Today
Have Questions?
Conventional Home Loan Benefits

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 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
  • 97% Loan to Value – Conforming – 715,000 Max Loan
  • 95% Loan to Value – High Balance
  • Primary Residence
    • Single Family – 95%  ( 97% First Time Buyer )
    • Duplex – 85%
    • Tri / 4 Plex – 80%
  • Second Home
    • Single Family – 90% 
    • Duplex – N/A
    • Tri / 4 Plex – N/A
  • Investment Property
    • Single Family – 85% 
    • Duplex – 75%
    • Tri / 4 Plex – 75%

Houston Conventional Refinance Loan

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.  

Conventional Highlights

  • Freddie Mac and Fannie Mae Insured
  • Primary, Second or Investment Property
  • Single, Multi-Family, Condo’s & Manufactured Homes
  • Lower Rates and Better Terms
  • Conforming – 647,250 Max Loan
  • High Balance ( Varies by County )

Rate and Term

  • Primary Residence
    • Single Family – 95% 
    • Duplex – 85%
    • Tri / 4 Plex – 80%
  • Second Home
    • Single Family – 90% 
    • Duplex – N/A
    • Tri / 4 Plex – N/A
  • Investment Property
    • Single Family – 85% 
    • Duplex – 75%
    • Tri / 4 Plex – 75%

Cash Out Refinance

  • Primary Residence
    • Single Family – 80%  
    • Duplex – 75%
    • Tri / 4 Plex – 75%
  • Second Home
    • Single Family – 75% 
    • Duplex – N/A
    • Tri / 4 Plex – N/A
  • Investment Property
    • Single Family – 75% 
    • Duplex – 70%
    • Tri / 4 Plex – 70%
Mortgage Conventional Refinance 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.  

Conventional Highlights

  • Freddie Mac and Fannie Mae Insured
  • Primary, Second or Investment Property
  • Single, Multi-Family, Condo’s & Manufactured Homes
  • Lower Rates and Better Terms
  • Conforming – 647,250 Max Loan
  • High Balance ( Varies by County )

Rate and Term

  • Primary Residence
    • Single Family – 95% 
    • Duplex – 85%
    • Tri / 4 Plex – 80%
  • Second Home
    • Single Family – 90% 
    • Duplex – N/A
    • Tri / 4 Plex – N/A
  • Investment Property
    • Single Family – 85% 
    • Duplex – 75%
    • Tri / 4 Plex – 75%

Cash Out Refinance

  • Primary Residence
    • Single Family – 80%  
    • Duplex – 75%
    • Tri / 4 Plex – 75%
  • Second Home
    • Single Family – 75% 
    • Duplex – N/A
    • Tri / 4 Plex – N/A
  • Investment Property
    • Single Family – 75% 
    • Duplex – 70%
    • Tri / 4 Plex – 70%

Houston Conventional Renovation Loan

Renovation Freddie Mac Choice Home Lender

CHOICERenovation can assist first time homebuyers who want to fix up a more affordable home, current homeowners who are looking to age in place by making needed repairs and improvements, and multi-generational families who need a more customized living space.

  • Up to 97% LTV of the “as-completed” value
  • 85% LTV on a 1-unit investment property;  90% on a 1-unit second home
  • Credit Scores down to 620
  • Owner-occupied 1–4 unit condos, PUDs, 1-unit second homes, and investment properties are all eligible
  • Luxury renovations and improvements are eligible, like adding a pool or outdoor living area

As inventory becomes increasingly scarce, and home prices remain high, homebuyers are increasingly looking at older, more affordable homes that can be fixed up or customized to their liking. CHOICE Renovation give buyers this opportunity topurchas an older home and make it their own

Not Sure? Take a Look at Other Houston Mortgage Programs

Houston Mortgage Team

Conor Hayhurst

Managing Director
NMLS 743506

Damon Embler

Loan Officer
NMLS 882260

Kelly Cameron

Loan Officer
NMLS 178093

Dale Gremillion

Managing Director
NMLS 210325

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