Lone Star Financing Provides Conventional Home Loans in Texas at Fixed Rate

Kingwood, TX, 2021-Dec-06 — /EPR Network/ — A conventional loan is ideal for borrowers with excellent credit and is the most popular type of mortgage in the United States. Conventional loans accounted for about 80% of the home loans that closed in August 2021.

You can purchase or refinance a home using conventional loans backed by a private lender rather than the federal government.

More about our conventional home loans:

Our Conventional home loans usually offer better terms with lower mortgage insurance costs and interest rates depending on your credit score. 

Our conventional home loans also allow borrowers to finance multiple properties, including second homes and investment properties. 

Still, have questions about Texas home loans and options available? Then, call today to speak with a local Texas mortgage expert!

While the eligibility criteria for government mortgages and conventional loans are not significantly different, conventional home loans in Texas will be more challenging to obtain and have more stringent requirements. 

Conventional loans come with many benefits to borrowers. Here’s a closer look at some pros of conventional loans:

Pros

• Low down payments.
• PMI premiums can eventually be canceled: Once you’ve paid down 78% of your home’s appraised value, your loan servicer must remove your PMI.
• You get a choice between fixed or adjustable interest rates. 
• It is used for all types of properties.
• Lower Mortgage Insurance
• Lower Rates and Better Terms

Conventional loan required because with a conventional home loan, you’ll borrow funds from private mortgage lenders to buy your home and pay back the loan over time with interest.