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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 homeownership.

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 mortgage lender obtains Private Mortgage Insurance (PMI) to protect 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 the best interest rates in Houston.

Get today's lowest mortgage rates.

Conventional mortgages require a more robust 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 low credit scores.

Loan Program Highlights:

• Available mortgage loan amounts of up to $548,250.
• Credit FICO scores starting with 620.
• Purchase or refinance home loans for a primary residence, vacation, and 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.

Get today's lowest mortgage rates.

Benefits of Conventional Loan Program: 

• No mortgage insurance for 20% or higher 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 loan you can get Pre-Approved.

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:

  • Soraya Guzman • October 04, 2018

    My experience with Joan and the clear lending team has been amazing! Joan helped us greatly, with poor credit and a job loss he was able to get us a loan! He looked out for us when choosing a home he didn’t try to push us to buy a house and always did his research. He explained every step, made sure we understood, and was there at every hour to answer any questions we had. Even after the purchase he has followed up to make sure we have no issues with our home.If you’re looking to buy a house I definitely recommend Joan and the team!

  • Christian Perez • September 14, 2020

    Joan was great, very transparent, and got me almost a percent lower with less money out of pocket than what my builder's lender was offering! Highly recommend.

  • Yandy Caballero • June 17, 2020

    For the COVID-19 the process was a little slow but Clear Lending worked hard and thanks to his team my wife and I fulfilled our dream. Thanks, Clear Lending!!!

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