Conventional Loans in Bee Cave

When a Conventional Loan Is the Right Fit

Conventional loans carry no government agency backing. They follow Fannie Mae and Freddie Mac guidelines, which favor good credit, verified income and manageable debt. For many borrowers, that adds up to a lower long-term cost than FHA, plus mortgage insurance that can be dropped once enough equity builds.

Our loan officer has spent 11 years in the mortgage industry and held an NMLS license for 10 years. Over that time one rule has stuck: improve what already works before replacing it. If your existing conventional loan just needs its mortgage insurance taken off, we will say so rather than pitch a refinance. If another program, like FHA Loans or VA Loans, would serve you better, we will explain the reason plainly.

What Our Conventional Loan Work Includes

Phone pre-qualification

We begin by talking through income, debts, savings and your target price range. By the end of the call you have a rough sense of where you stand and which documents are next.

Comparing down payments

Some first-time buyers can qualify with only 3 percent down, and others choose 10 or 20 percent. We set out each option so you see how the payment and mortgage insurance shift.

Choosing mortgage insurance

With less than 20 percent down, private mortgage insurance applies. We compare monthly and single-premium choices and explain when and how it can be canceled later.

Rates with and without points

We quote the rate both ways and show the month you break even on points. A written comparison makes the choice clear.

Purchases and refinances

One program handles purchases, rate-and-term refinances and cash-out refinances. If you would rather leave your first mortgage alone, we may direct you to our HELOC page.

Keeping closing on schedule

We keep your appraiser, title company and real estate agent up to date so nothing catches you off guard on closing day.

Signs a Conventional Loan May Suit You

• Your credit is strong

  Conventional pricing improves with higher scores. If your score has risen since you last checked, this program may now come out ahead.

• Your income is steady and documented

  W-2 employees and self-employed borrowers with two years of returns are usually a good match. If your returns show less than you earn, start with our Bank Statement Loans page instead.

• You carry FHA mortgage insurance

  FHA insurance frequently lasts for the full loan term. Switching to a conventional loan after building equity can end it permanently.

• You have money set aside to put down

  A modest down payment still qualifies for conventional options, and a bigger one reduces or eliminates mortgage insurance.

• You want a vacation home or rental

  Conventional rules permit second homes and investment properties, which government-backed programs usually do not.

How a Conventional Loan Moves From Call to Closing

1. 1

   Starting the conversation

   We meet by phone, video or at our office, talk through your goals and finances, and give you a pre-qualification estimate.

2. 2

   Paperwork and pre-approval

   You provide pay stubs, W-2s or tax returns, bank statements and consent to pull credit. After a careful review, we issue a pre-approval you can show a seller.

3. 3

   Locking and appraising

   When you are under contract, we go over lock choices and order the appraisal. If it comes in low, we discuss your options before moving on.

4. 4

   Clearing underwriting conditions

   Underwriting may request a letter of explanation or a newer statement. We tell you precisely what is needed and why, so your file keeps moving.

5. 5

   Signing

   Your Closing Disclosure arrives at least three business days before you sign. We review each line together so the numbers match what you planned for.

What Shapes the Cost of a Conventional Loan

Your rate and closing costs come from the specifics of your file and the market on your lock date. Every figure is in writing, with an explanation of what it covers. These are the items that move the numbers most.

Your score

Pricing adjustments shrink as scores go up. A small boost before applying can sometimes cut your rate, and we will let you know if a month's wait would pay off.

Equity and amount down

More equity lowers the lender's risk, which brings a better rate and less or no mortgage insurance.

How the property is used

Primary residences get the best pricing. Second homes, investment properties and condos add adjustments.

Points and lock length

Points bring the rate down. A longer lock costs more but protects you when closing will take a while.

Size of the loan

Loans under the yearly conforming limit are priced apart from jumbo loans, which comes into play on higher-priced properties around Lakeway and West Lake Hills.