Conventional Loans

Conventional loans offer great benefits for those who qualify

Conventional loans are a great way to navigate financing a home because of the wide variety of loans available to consumers. As a mortgage lender, TexasLending.com is in a great position to offer loans within our own portfolio that may have features and benefits not available anywhere else. For specific information on what type of security we can use as collateral for a conventional loan, please contact a loan expert.

What is a Conventional Loan?

A conventional loan is not backed by the US government the way that FHA or VA loans are. Again, because there is such a wide variety of conventional loans, this statement is one of the only things consistent across conventional loans. Additionally, 99% of all conventional loans conform to the standards of Fannie Mae and Freddie Mac, and are thus labeled “conforming” mortgages.

Why a Conventional Loan?

There are dozens of reasons why a conventional home loans may be the right route to homeownership, and again, it largely depends on your unique situation, but we’ll list a few here:

Many sellers prefer to sell to people with conventional loans
Often, there are fewer steps to closing
You might spend less on mortgage insurance
Collateral for the loan can be flexible
Flexible qualification terms
There are many more benefits to financing your home with a conventional home loan. It’s definitely worth looking into to see if you qualify.

Speak with a loan expert from TexasLending.com today!

 

Current Rates

VA Purchase
30 Year Fixed

As of: June 18, 2018

4.375%
RATE
4.620%
APR

Rate/Term Refinance
30 Year Fixed

As of: June 18, 2018

4.250%
RATE
4.479%
APR

Rate/Term Refinance
15 Year Fixed

As of: June 18, 2018

3.625%
RATE
4.001%
APR

Cash Out Refinance
30 Year Fixed

As of: June 18, 2018

4.750%
RATE
4.959%
APR

FHA Purchase
30 Year Fixed

As of: June 18, 2018

4.250%
RATE
5.144%
APR