Conventional Loans in Texas and Colorado
Conventional loans are mortgages not backed by the government and are ideal for buyers with stronger credit profiles and stable income.
Who Conventional Loans Are For
- Buyers with higher credit scores
- Buyers seeking flexible term options
- Homeowners refinancing
This option is commonly used by LGBTQ+ buyers and non-traditional households when structured correctly. Learn more about LGBTQ+ homebuyer guidance →
How Conventional Loans Work
- 1.Fixed or adjustable rate options
- 2.Lower mortgage insurance with higher down payments
- 3.Broad property eligibility
Basic Requirements
- Strong credit history
- Verifiable income
- Down payment typically required
Conventional Loans vs FHA Loans
Conventional loans generally require higher credit scores than FHA loans but offer advantages like the ability to remove mortgage insurance and more flexible property options. FHA loans may be a better fit for buyers who need lower down payments or have less established credit histories.