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A Conventional Fixed-Rate Mortgage is one of the most popular home loan options for buyers in Texas. Unlike FHA, VA, or USDA loans, conventional loans are not insured or guaranteed by the federal government. Instead, they follow lending guidelines established by Fannie Mae and Freddie Mac.

With a fixed-rate mortgage, your interest rate and principal and interest payment remain the same for the life of the loan, making it a great choice for buyers who plan to stay in their home for many years and want the stability of a predictable monthly payment.

Benefits of a Conventional Fixed-Rate Mortgage

• Competitive interest rates for qualified borrowers

• Fixed monthly principal and interest payments for the life of the loan

• Down payment options starting as low as 3% for eligible first-time homebuyers

• No upfront mortgage insurance premium

• Private Mortgage Insurance (PMI) can be removed once you have sufficient equity, helping lower your monthly payment

• Available for primary residences, second homes, and investment properties

• Flexible loan terms, including 15-, 20-, and 30-year fixed-rate mortgages

Is a Conventional Loan Right for You?

A conventional loan may be a great option if you:

• Have a credit score of 620 or higher

• Have a stable income and employment history

• Want lower monthly mortgage insurance costs compared to some government-backed loans

• Plan to stay in your home long-term and prefer a consistent monthly payment

• Are purchasing or refinancing a home in Texas

Every borrower's situation is unique, and qualifying requirements can vary based on your credit profile, income, debt-to-income ratio, and down payment.

Let's Find the Right Loan for You

Not sure if a conventional loan is your best option? I'll compare Conventional, FHA, VA, USDA, and other available loan programs to help you choose the mortgage that best fits your financial goals.

Contact me today for a personalized mortgage consultation or to get pre-approved anywhere in Texas!

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