Conventional Loans

Conventional Loans in Texas

Mortgages that follow Fannie Mae and Freddie Mac guidelines, with flexible terms for buyers with solid credit and stable income.

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About this program

Conventional loans are the most common type of mortgage in the U.S. They aren't insured by a government agency; instead, they follow underwriting guidelines set by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages from lenders.

Conventional financing covers a wide range: primary residences, vacation or second homes, and investment properties across single-family, multi-unit, condos, townhomes, and PUDs. Term options include 15, 20, and 30-year fixed-rate loans plus various adjustable-rate alternatives.

For borrowers with established credit and 20% down or more, conventional loans usually offer the most competitive pricing and the cleanest path through underwriting. Down payments as low as 3% to 5% are available for eligible buyers, though private mortgage insurance applies until enough equity is built.

Who it's for

Key terms

Down payment
As low as 3-5% for eligible primary-residence buyers; higher for second homes and investment properties.
Mortgage insurance
PMI required when the down payment is less than 20%; can be removed once enough equity is built.
Loan limits
Subject to annual conforming loan limits set by the FHFA; loans above this threshold become jumbo.
Terms
15, 20, and 30-year fixed-rate plus various adjustable-rate options.
Occupancy
Primary residence, second home, or investment property.

Specific terms vary by lender, program, and borrower profile. All loans are subject to credit, income, property, and underwriting approval. Not a commitment to lend.

Frequently asked questions

What is a conventional loan?
A conventional loan is a mortgage that follows guidelines set by Fannie Mae or Freddie Mac and is not insured or guaranteed by a government agency.
How much down payment is needed for a conventional loan?
Many conventional programs allow down payments as low as 3% to 5% for eligible borrowers. Larger down payments can unlock better pricing and remove private mortgage insurance.
Do conventional loans require mortgage insurance?
Private mortgage insurance (PMI) is typically required when the down payment is less than 20%. PMI can usually be removed once enough equity is built.
Can I use a conventional loan for an investment property?
Yes. Conventional loans can finance primary residences, second homes, and investment properties, though pricing and down payment requirements vary by occupancy type.

Have a different question? See all mortgage FAQs or get in touch .

Serving these areas

Conventional Loans are a regular fit in these Central Texas markets.

Austin, TX San Marcos, TX Driftwood, TX See all locations →

Related programs

FHA Loans

Government-insured mortgages with low down payment options and more flexible credit requirements than conventional loans.

Learn more

Jumbo Loans

Mortgages for loan amounts above the conforming loan limits set by the Federal Housing Finance Agency.

Learn more

VA Loans

Mortgage benefit for eligible veterans, active-duty service members, and qualifying spouses, often with zero down payment and no monthly mortgage insurance.

Learn more

See all loan programs →

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Vanessa Jones Schlomer

Title
Branch Manager
Loan Officer NMLS Number
NMLS# 893657
State Licenses
Serving Texas, California, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee
Office
14201 Ranch Road 12, Suite 3
Wimberley, TX 78676
Email
[email protected]
Phone number
+1 (512) 790-0947