Buying a new home in Texas, with a conventional mortgage, should be an exciting moment in your life. At Texas Loan Experts, we make it easy on our clients by issuing a pre-approval in 5-min and closing your loan in as little as 14-days. There is a reason that real estate agents all over Texas refer us to their clients. We close on time, every time and we get their clients the lowest mortgage rates on the best conventional home loan possible. For Texas borrowers with good credit and a consistent history of income, a conventional home mortgage may be the best option for you.
The Most Popular Mortgage
Conventional home loans are the single most popular mortgage type in Texas and across the United States. Conventional mortgages offer low down payment options from 3% and up. With less than 20% down payment you will need to pay monthly PMI(Private Mortgage Insurance) or pay a one-time PMI premium at closing. Texas Loan Experts will work with you to determine the down payment amount that works best for your situation. There are also various loan terms you can choose from, 15-year and 30- year mortgages are the most popular. A conventional mortgage is not insured or guaranteed by the government- like FHA, USDA, or VA home loans.
Getting Texans The Best Mortgage Rates
When you buy a home in Texas, you want to get the best mortgage rate for your home loan. Conventional mortgages offer both fixed interest rates and adjustable mortgage rates. A fixed interest rate will remain the same for the duration of your home loan. An adjustable rate mortgage(ARM) stays fixed for shorter amount of time then adjusts to current mortgage rate levels- these could be higher or lower mortgage rates. Adjustable rate mortgages may be a good option if you don’t plan on staying in your home for a long time.
Arien Bowersock was born in Lubbock, TX and came to Austin in 1998 to attend the University of Texas. After graduating,she took a job as a loan officer assistant and I hasn’t looked back since! With over 15 years in this industry she knows the Texas markets well. Whether it’s deciding on the best neighborhood, choosing a realtor, or giving my opinion on a paint color- she is here to help each step of the way!