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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:

  • Beverly Evans • January 28, 2014

    Hi Joan,
    Words cannot express how appreciative I was for all your help in getting me my dream home. I was very impressed with your professionalism and your sincere concern in doing whatever possible to help me get into my home. Since I was retired and on a lesser income it was a challenge for you to get my loan approved. You never gave up and you convinced me not to give up either. Because of you I am in my new home and extremely happy and appreciative for you. I will recommend you to anyone needing to buy a home.
    Thank you very much, and God Bless you Beverly


  • Rodolfo Garcia • July 25, 2018

    Joan and the rest of staff at Clear Lending did an amazing job. Taking the time to explain all the details and taking all the right steps on getting me into a home. I recommend anyone in the home buying market to contact him. He will take care of you.

  • Luis Ramirez • October 29, 2015

    Joan is an awesome loan officer! Not only has he helped me but also my family and friends I referred him. He literally is available any time you have questions or need him. He makes the home buying/refinance process very stress free. With his professionalism and expertise, he finds a way to get you the house of your dreams. I highly recommend him!

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