Capital Home Mortgage Killeen

Killeen Conventional Home Loans

Killeen Conventional Mortgage Lender

Killeen Conventional Home Loans

You’ve probably heard of conventional home loans, but you may not know what they are. Conventional loans are not government-backed and are a popular mortgage option for many homebuyers because they offer various benefits, such as low-interest rates, flexible repayment terms, and low down payment requirements.

Conventional loans could be a good option if you are considering buying a home in Killeen, TX. 

Conventional Loan Requirements

Mortgages that are not government-backed are known as conventional loans. However, a private lender is the one who issues it. And because of this, conventional loans often have stricter requirements than other types.

– Assets and Reserves

A conventional loan requires you to have enough assets and cash reserves to pay for your down payment, closing costs, and any unexpected expenses that may come up during the home-buying process. To prove so, you need to present bank statements of your checking, investment, or savings accounts.

Unfortunately, the downside to a conventional loan is that you are on the hook for expenses out of your pocket. So, we recommend you ensure you are set with cash for closing costs or haggle who will shoulder them.

In addition to the funds for closing, you should also show your asset reserves and provide the following asset documentation:

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

– Credit 

A strong credit score is vital to qualify for a conventional loan. We will look at your credit report and credit score to get an idea of your financial history and see how likely you are to repay your loan on time. A higher credit score indicates that you are a lower-risk borrower, which could result in a loan with a cheaper interest rate.

Remember that the minimum credit score for a conventional loan is 620, but if you have a lower credit score, it may be best to consider FHA loans instead.

– Employment 

We might call your current employers to verify that you are indeed employed and what position, if any. Self-employed applicants must also submit additional paperwork supporting their business income. Meanwhile, a letter from the CPA who prepared the last two years’ tax returns should suffice but is only necessary until we have confirmation of credentials via other means.

– Income

Income is considered the bread and butter of any mortgage application. After all, a lender wants to see that you have the capacity to repay your loan. The following documentation is usually requested as part of your application:

  • W-2s for the last two years;
  • Pay stubs for the last 30 days;
  • 1099s for the previous two years;
  • Business and personal tax returns in the last two years plus year-to-date profit and loss statements for self-employed borrowers;
  • Final divorce decree copy plus social security benefits letter if these are applicable.

Conforming Loan Limits

For your loan to be considered a conventional loan, it must fall within the maximum conforming loan limits regulated by the Federal Housing Finance Agency to be acquired by Fannie Mae and Freddie Mac.

For 2022, the conforming loan limit for a one-unit property is $647,200, depending on where you live in the United States. If your area has high living costs as Killeen does, then be sure to contact our Capital Home Mortgage experts to learn about any changes that may have happened since limits change yearly.

Apply for a Conventional Home Loan in Killeen

Capital Home Mortgage is here to help you every step of the way. We have a team of experienced mortgage professionals who can answer any questions you may have and guide you through the loan process.

Call us at (254) 213-7343 to get started with a no-obligation quote. We look forward to providing your next Conventional home loan in Killeen. 

Why Killeen 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

Killeen Conventional 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

Killeen 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

Killeen 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)

Killeen 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

Killeen Texas 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

Killeen Mortgage Company Reviews

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