Ready to buy a home?
Before shopping for homes, you should obtain a pre-approval letter.
Know how much you can qualify for.
Send your items in beforehand to be reviewed.
Review funds you may need to purchase a home.
Allow a smoother process from the beginning.
Conventional loans often require a higher down payment compared to FHA loans. A typical down payment is 5% to 20% of the purchase price, but there are options to put as little as a 3% down payment.
The credit requirements for a conventional loan with Fannie Mae and Freddie Mac are usually a bit more stringent than with other programs. The debt to income ratios are also more conservative.
A conventional loan can be used to purchase a single family home, townhome, multi-unit property or condominium.
One of the advantages to a conventional loan is often times they will allow a higher loan amount than other home loan programs. When putting down 20% or more, there will not be mortgage insurance which also helps lower the monthly payment.
Conventional Loan Highlights
Conventional loans typically require 5% to 20% for a down payment
There are options for a 3% down payment
When putting a 20% or greater down payment, a conventional loan will not have mortgage insurance
Conventional loans can offer mortgage options for a fixed or adjustable interest rate
With a conventional loan, homeowners can also refinance to reduce their payment as well as take cash out of their property to pull out equity
Conventional loans can be used for single family homes, townhomes, multi-unit properties and condos
Your mortgage journey.
Various loan type options including:
Conventional loan
FHA loan
VA loan
Self-employed loan options
No income verification for investors
Benefits of Homeownership
Homeownership is a significant milestone and a decision that offers many advantages. In addition to providing a place to call your own, owning a home brings financial stability, personal fulfillment, and a sense of belonging. Mortgage Group has been helping individuals and families obtain homeownership, guiding them through the process and obtaining referrals to help their family and friends accomplish the same.
Purchase
Get pre-approved to purchase your first home, second home or upcoming investment property.
Refinance
Own a property and interested in lowering your payment? Need to take cash out? Refinance with confidence.
Connect with Us
Our experienced team with be happy to speak with you, and walk you through each step of the process.
Providing mortgage solutions to help you with your home.
Mortgages can be complicated and have many moving parts. Let our team help you!
Contact Us
It only takes a few moments to reach out and have an initial conversation.
Know the Next Steps
Our team will work with you to find the best way to achieve your home loan goals.
Find Your Home and Get Your Loan
Our team will be prepared to move with the next steps once you have secured your home purchase contract.
Houses
Townhomes
Condos
Multi-Units
How much home can I afford?
Which home loan program is right for me?
Contact our team today.
1-800-583-5305
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Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov
A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at
www.sml.texas.gov