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Home Purchase

Conventional Loans

Whether you’re looking to buy a new home or trading up the property ladder, this is the perfect time to purchase in the Houston real estate market.

We offer a variety of conventional home loans at great low rates, and our home equity loans let you tap into the value of your home to make needed improvements or consolidate debt.

Conventional Loan Basics

As the name implies, a conventional loan is the most common form of loan that Houston mortgage companies offer. They are sometimes known as “conforming loans,” because they conform to same rules as loans backed by the federal government. For customers with very good to excellent credit, conventional loans generally offer a more competitive rate than FHA loans. A conventional loan lets you

  • Purchase a single-family home, condominium.
  • Refinance with a home equity loan to make improvements on your property.
  • Buy a second home or investment property.

To find out what the you can do with a conventional loan, choose from the topics on the right to learn more about

To be approved for a qualified loan offered by a Houston mortgage company, you need to have the following…..
Things That Matter

Credit Score: An excellent credit score is needed for low and competitive rates and generally you’ll end up needing a credit score of 620 or higher.

Debt-to-Income Ratio: We recommend a debt-to-income ratio of less than 43%

Cash Reserves: A decent savings remaining that will be there after closing costs.

A Strong Proven Work History: It’s very important that you can prove you have maintained a strong work history with proven income. b

Navigating Conventional Loans

Buying a home is an exciting, and challenging process. The financing itself can feel intimidating, especially if you are a first-time buyer. Nevertheless, a prequalification letter is a must in today’s competitive Houston real estate market. Contact Corey or Daron, or fill out our online application, to get the process started.

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1st Alliance Mortgage LLC
NMLS: 1407

750 William D. Fitch Pkwy
College Station, TX 77845

Phone: (713) 338-2084
Fax: (832) 494-1538