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.
John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.
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The John Schutze Team – Texas Loan Experts 10000 Research Blvd, Suite 252 Austin, Texas 78759