Loan Program
Conventional Loan in Texas
A home loan with no government agency behind it.
What is a conventional loan?
A conventional loan isn't backed by a government agency. Buyers with steady income and some savings often choose one. Your terms depend on you, the home and the lender.
Who looks at a conventional loan
- Move-up buyers
- Buyers with steady income and savings
- Buyers planning a larger down payment
Where a conventional loan can help
- A choice of loan terms and property types
- May avoid some government-program rules
- Can be used for a main home, a second home or a rental
The steps, in order
A first conversation, then a review of your goals and finances, then comparing loans. After that come a secure application, your documents, underwriting, and final approval and closing. No approval is implied before underwriting.
- 1.A first conversation
- 2.A review of your goals and finances
- 3.Comparing loans
- 4.A secure application
- 5.Your documents
- 6.Underwriting
- 7.Final approval and closing
What to weigh with a conventional loan
- Credit and down payment standards apply
- Mortgage insurance may be required with a smaller down payment
What a lender reviews for a conventional loan
- Credit history
- Debt-to-income ratio
- Steady income and work history
- Money for the down payment and savings left after closing
Property rules for a conventional loan
- • The type and condition of the home
- • The appraisal
Documents for a conventional loan
- Proof of income and work
- Bank and asset statements
- ID
The down payment on a conventional loan
Mortgage insurance on a conventional loan
Questions to ask Bert about a conventional loan
- Does my situation fit this kind of loan?
- What documents will I need?
- What costs should I plan for besides the down payment?
- How would mortgage insurance work in my case?
Talk it through with Bert
Program availability and eligibility vary. Ask Bert whether this loan fits your situation.
Schedule a CallImportant
This is educational information, not a commitment to lend or a guarantee of eligibility. Eligibility, pricing, rates, and terms depend on the borrower and transaction. A licensed mortgage professional must review your complete scenario.