For Dallas home buyers, there's a large mix of low- and no-downpayment mortgages from which to choose. Conventional mortgages are loans underwritten and insured by private lenders and investors instead of mortgages that are government backed like FHA Loans and VA Home Loans.
Conventional loans are "conforming" if they are generally $453,100 or less for a single-family home. There are also established guidelines for borrower credit scores, income requirements and minimum down payments. For example, most conventional loans require somewhere between 5 percent and 20 percent down.
We offer great low rates on Conventional Loans for borrowers in the Dallas area.
The Conventional Refinance Loan allows Texas homeowners who have a existing home loan to refinance and take advantage of lower mortgage interest rates and lower monthly payments, shortened or lengthened loan terms. You can also refinance an adjustable rate mortgage (ARM) into a fixed rate mortgage.
They can be for a variety of terms ranging from 15 to 40 years, and they can have Fixed Rate or Adjustable Rates. Please visit the Loan Programs page for more information on determining which mortgage would be right for you. Conventional loans with less than 20% down require PMI (Private Mortgage Insurance).
Conforming loans means that they meet the stipulations set forth by Fannie Mae and or Freddie Mac. Non Conforming loans will not meet thoes stipulations (such as credit quality, loan-to-value ratio or loan amount).
Getting approved for a mortgage is simple
Contact your Dallas, Texas area home loan specialist at 210-656-1134
The Note, Deed of Trust, Survey and Settlement Statement (HUD-1) should be in the package of documents provided to you by the title company when you closed your current loan.
We are a VA Approved lender and Licensed Texas Mortgage Broker.
We proudly boasts an A+ rating from the Better Business Bureau.
Give us a call at 210-656-1134.
Compare our fees to the Big Banks!
|Grove Mortgage||Fee||Big Banks|
|$0||You Save $5,190.00||$5,190.00|
Actual loan estimate based on $400,000 30 year fixed conventional loan, 5% down payment, 3.75% interest rate
On an $400,000 purchase, you will save $5,190.00 in junk fees that the big banks charge.