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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 mortgages 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 $510,400.
• 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 mortgages 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:

  • Mariela Suarez • July 30, 2019

    FROM GOOGLE: I wanted to thanks Mr.Joan and his staff for everything! Rolando and I are veryyy happy. Thank you for being so patient and for always be there and help us with our new home, Patricia is just the best also she was always there whenever I had any question, and they will always have an answer for it. Thanks again for everything.

  • Alicia D • July 20, 2019

    FROM GOOGLE: AWESOME! Clear Lending knows what they are talking about when it comes to the buying and selling of Homes. They will go out of their way to make their clients feel secure in the handling of the biggest transaction of their lives. I highly recommend them! BIG shout to Edgar, Joan and Patricia…so friendly, helpful and professional. THANK YOU SO MUCH Y’ALL!

  • Glenda Alvarez • May 05, 2015

    Joan I really appreciate all the patience you had with us. You gave us hope after we had a bad experience with our bank making sure our loan was first approved before looking for a house. This really brought our hopes up. You made sure houses we went to see met our expectations. Then no matter how late at night or early in the morning you would answer all our calls. Even when we signed the contract on the house you would still keep in touch with us and made sure everything was good. I will be referring you everyone I know and our next home purchase is going to be with you. Thank you so much Joan.

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