Valoans Houston USA

Conventional Loan Houston

A Conventional Loan Houston is a mortgage that is not guaranteed or insured by any governmental agency including but not limited to the Federal Housing Administration (FHA), the Farmers' Home Administration (FHA), and the Department of Veterans' Affairs (VA). A conventional loan Houston is also typically fixed in its terms and rate. The first type of mortgage loan to come about is conventional loans that enable the borrower to build business relationships with the lender.

However, Conventional Loan Houston do spell trouble sometimes, and over time the VA loan has surpassed its predecessor as a viable option.

Benefits Of VA Loan Over Conventional Loan Houston Includes But Are Not Limited To The Following:

  • Zero down payment is possible with VA loans, but not with conventional loans
  • No need to pay PMI (private mortgage insurance) with VA loans which saves you hundreds of dollars a month, but you do have to pay PMI with conventional loans
  • With VA benefits you can qualify for even lower rates, not applicable to conventional loans

In today's market, banks generally require 10-20% down payment on conventional loans. Conventional loans Houston also require PMI as conventional loans are not backed by the government. Not to mention the fact that qualification standards for conventional loans are far more stringent than VA loans as there is no government backed guarantee for conventional loans, which means they involve higher risk.

A Conventional Loan Houston isn't for everyone just as a VA loan isn't for everyone. It is important to do a research, and determine which loan best suits your needs. Talk to a loan expert today, and find your options.

For more information about VA Loans, please feel free to contact us today. A VA Loan Specialist will be waiting to help you.

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