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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.

 

Clear Lending offers Fannie Mae or Freddie Mac mortgage programs that might be right for you.

Conventional loans are mortgages following government sponsored enterprises (GSE’s) guidelines such as Fannie Mae or Freddie Mac.

A Conventional loan may be insured or uninsured. The insurance for conventional loans is referred to as Private Mortgage Insurance (PMI) an insurance policy issued to provide protection to the lender in the event of financial loss due to a borrower’s default. If the loan is 80% over 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 history. Lenders offer lower rates to borrowers with cleaner credit histories and higher credit scores.

Loan Program Highlights:

• Purchase or refinance loans available for owner-occupants and investors of 1-4 units, townhouses, approved condos or PUDs.
Purchase or refinance of single family second homes.
• Financing up to 95% (certain cases 97%) loan to value. Gift funds are allowed after the borrower’s required contribution.
• 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 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 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:

  • Carolyn De Leon • December 22, 2016

    Good afternoon Joan, thank you so much for all your hard work and patience during this journey. I know it was not easy but we made it. I hope God continues to use you to help make other people's dreams come true. You and your team have been a blessing to my family. Have a Merry Christmas and a most wonderful and prosperous New Year!!!!! Once again, Thank you and Best Regards Carolyn De Leon

  • 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!

  • Denita Hawkins • July 19, 2017

    Thank you Joan! You TRANSFORMED a Nightmare into a DREAM!

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