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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:

  • Ramiro Rojas • May 20, 2019

    FROM GOOGLE: Thank you so much for all your team effort Patricia and Joan to get us approved quickly and to help us find the beautiful home that we now live in. We are more than satisfied with this company and if we could we would leave more than 5 stars. We appreciate the patience you both had when it came to us finding the right home and thank you for all the advice that was given to us along the way. We can't say thank you enough.

  • Martha Idalia • November 06, 2015

    Thank you for your professionalism and quick thorough response in working with my loan. Always very clear. Great experience, thank you!

  • 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!

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