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Popular Conventional Loan Programs
Check out the most popular conventional loan programs in Texas
Conventional Purchase Loan
Most PopularBest For: Flexible Terms, Lowest Rates, Savvy Investors
Meet the most popular mortgage program. Flexible financing offering a wide range of attractive benefits to qualified homebuyers across the US.
Min. Credit Score
620
Min. Down Payment
5%
Max. Loan Amount
$806,500
HomeReady® Refinance
Most PopularBest For: Low Credit Scores, Lowest Rates
Competitive pricing, affordable mortgage insurance and flexible qualification for refinancing a home with limited income and equity.
Min. Credit Score
620
Min. Down Payment
5%
Max. Loan Amount
$806,500
Conventional Options for Purchasing a Home
We searched our national mortgage program database to find all of the purchase home loan options specific to Texas:
Conventional Purchase Loan
Best For: Flexible Terms, Lowest Rates, Savvy Investors
Meet the most popular mortgage program. Flexible financing offering a wide range of attractive benefits to qualified homebuyers across the US.
Min. Credit Score
620
Min. Down Payment
5%
Max. Loan Amount
$806,500
HomeReady® Purchase Loan
Best For: First Time Homebuyers, Low Down Payments
Competitive pricing, affordable mortgage insurance and flexible qualification for buying a home with limited income and funds.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$806,500
HomeOne® Purchase Loan
Best For: First Time Homebuyers, Easy Process
A low down payment solution to help first time homebuyers with limited savings take advantage of the benefits of a conventional loan program.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$806,500
97% LTV Conventional Purchase
Best For: First Time Homebuyers, Low Down Payments
The popular 97% LTV Purchase Program from Fannie Mae helps first time homebuyers by allowing for down payments as low as 3%.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$806,500
Home Possible® Purchase Loan
Best For: First Time Homebuyers, Low Down Payments
Low down payment financing from Freddie Mac with discounted fees for creditworthy low and moderate income borrowers across the US.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$806,500
Special Programs for Conventional
These additional loan programs available in Texas may provide help for down payment and closing costs, qualification for borrowers who don't fit the traditional mold, and unique portfolio programs for special situations.
HomeStyle® Renovation Purchase Loan
Best For: High Credit Scores, Home Renovations
HomeStyle® allows for the renovation budget to be financed into the loan, allowing homebuyers to turn their house into their dream home.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$806,500
Up to 75% of Price or ValueYour Estimated Renovation Fund
HomeStyle® Renovation Refinance
Best For: Savvy Investors, Home Renovations
With HomeStyle®, homeowners can refinance with a budget for renovations, allowing them to turn their house into their dream home.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$806,500
Up to 75% of Price or ValueYour Estimated Renovation Fund
CHOICERenovation® Purchase Loan
Best For: Savvy Investors, Home Renovations
Include for home improvements and repairs in your conventional loan this convenient and flexible program for renovations from Freddie Mac.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$806,500
Up to 75% of Price or ValueYour Estimated Renovation Fund
Texas Veteran Conventional Loan
Best For: First Time Homebuyers, Low Credit Scores, Lowest Rates
The TexVet Conventional Loan allows Texas Veterans to purchase a home with a competitive, low-interest loan.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$726,200
CHOICERenovation® Refinance
Best For: Savvy Investors, Home Renovations
Refinance with funds for home improvements and repairs with this convenient and flexible program for renovations from Freddie Mac.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$806,500
Up to 75% of Price or ValueYour Estimated Renovation Fund
* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers.
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