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Conventional Loan Program:

Primary, Vacation & Investment Home Loans

Conventional

Conventional mortgages often require less documentation than FHA loans or VA loans, which could speed up the overall processing time.

 

If you are in the market to purchase a home, Clear Lending offers Fannie Mae or Freddie Mac mortgage programs ideal for home ownership.

Conventional mortgage lenders must follow government-sponsored enterprises (GSE’s) guidelines such as Fannie Mae or Freddie Mac.

A Conventional loan may be insured or uninsured. The Private Mortgage Insurance (PMI) is issued to provide protection to the mortgage lender in the event of financial loss due to a borrower’s default. If the mortgage loan is 80% over the property's value then it will require PMI. Clear Lending Conventional loans have best interest rates in Houston.

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Conventional mortgages require stronger credit report history to be able to buy a home. Lenders offer lower rates to borrowers with cleaner credit histories and higher credit scores. As opposed to VA loans conventional loans have minimum credit score requirements not giving much chance to borrowers with poor credit scores.

Loan Program Highlights:

• Available mortgage loan amounts of up to $484,350.
• Credit FICO scores starting with 620.
• Purchase or refinance home loans for a primary residence, vacation and/or investors of 1-4 units, townhouses, approved condos or PUDs.
• Purchase or refinance of single-family second homes.
• Financing traditionally up to 95% loan-to-value (certain cases 97%). Gift funds for closing costs are allowed.
• Seller contributions allowed depending on down payment and occupancy.
• No first-time homebuyer restrictions.
• Co-signers are allowed to help buyers qualify for single-family residences.
• Conforming loan limits apply.

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Benefits of Conventional Loan Program: 

• No mortgage insurance for 20% or greater down payment.
• Available to purchase second homes or investment properties.
• Greater loan limits than FHA loans.
• Flexible PMI options are available for loans with less than 20% down payment.

 

Don't wait any longer and find out how much you can get Pre-Approved for.

Whether you are considering purchasing or refinancing an existing Conventional mortgage loan, Clear Lending can help you. Simply complete our secure and encrypted Pre-Approval Form online and we will contact you right away to review the best options for you.

Not all applicants will qualify. This advertisement is not an offer for an extension of credit. Please meet with a licensed loan originator for more information as programs are available only to qualified borrowers. Programs rates, fees, terms, and programs are subject to change without notice. Not all loans, loan sizes, or products may apply. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet loan-to-value requirements, and final credit approval. Approvals are subject to underwriting guidelines and program guidelines and are subject to change without notice. Some restrictions may apply.


Customers Reviews:

  • Jason Park • November 16, 2015

    Joan makes you feel you are his only customer. And he doesn't seem to sleep either. Always speaks with kind works with us. Thank you again Joan.

  • Roberto & Irene • August 04, 2017

    I wanted to buy a second home, without having to sell my primary home in Florida. I had originally contracted another mortgage broker to help me secure a loan. I spent so much valuable time with this broker only for her to tell me that I could not obtain any financing unless I sold my house in Florida. I was so frustrated with the original broker that I decided to look online for another mortgage company. I found Clear Lending. OMG talk about professionalism, knowledgeable, and the dedication Joan from Clear Lending, and his staff that in 3 months I had a new home in Texas, without selling my home in Florida. The best part of this that under the Clear Lending umbrella I was able to get my mortgage and Real Estate agent under one roof.

  • Sohail Ahmed • October 03, 2016

    Thanks Joan for helping me refinance my house at such an excellent interest rate. For anyone reading this I want to let you know Joan has worked very hard even calling me 10:00 pm to push me get him documents needed for a final approval. I am very happy you Joan worked my loan and actually we will talk soon for my new coming home. Thanks again Joan.  

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