Types of Loans: Conventional

by Betsy Brush with Eagle Home Loans, Mortgage Loan Originator

Disclosure: Betsy Brush is a licensed mortgage loan originator with Eagle Home Loans. This content is provided for educational and informational purposes only and is not a commitment to lend or a guarantee of loan terms. All loan programs, rates, and terms are subject to change and borrower qualifications.  Betsy Brush | NMLS #2678985; Eagle Home Loans | NMLS #1596089 Equal Housing Lender

Conventional Home Loans for Texas

Conventional Loans rank among the most common mortgage options and are a great choice for many homebuyers.

Some key benefits of conventional mortgages include:

• Potential PMI avoidance

• Customizable loan terms

• Quick processing times

• Flexible down payment options

For Tyler or any Texas resident who wants to purchase their dream home, a conventional loan could be the right choice whether you're a first-time homebuyer, a seasoned buyer or seeking a second mortgage. As a Mortgage Loan Originator with Eagle Home Loans, I can help you explore the qualification requirements and application process for securing a traditional mortgage in Tyler, Texas or anywhere in Texas.

Conventional Loans

A conventional loan could be the right choice whether you're a first-time homebuyer, a seasoned buyer, or seeking a second mortgage. You will need to meet minimum credit and down payment requirements.

The underwriting guidelines for a conventional loan are not as demanding compared to government-backed options. They also offer valuable advantages that make them particularly appealing for both first-time and seasoned buyers.

Some key benefits of conventional mortgages include:

• Potential PMI avoidance

• Customizable loan terms

• Quick processing times

• Flexible down payment options

These features often make conventional loans an attractive choice for qualified borrowers.

Typical Requirements

To qualify for a conventional loan, you typically need:

• A credit score of at least 620

• A minimum down payment of 3–5%

• A debt-to-income ratio below 50%

• Stable employment and/or income

  
  

A conventional loan could be the right choice whether you're a first-time homebuyer, a seasoned buyer, or seeking a second mortgage. I can help you explore the qualification requirements and application process for securing a traditional mortgage anywhere in Texas.