The right mortgage can save you tens of thousands over the life of your loan. Here is what you need to know about each option available in Houston.

Conventional Loans

  • Down payment: As low as 3%
  • Credit score: 620 minimum, best rates at 740+
  • PMI: Required below 20% down, removable at 20% equity
  • Best for: W-2 employees with good credit

FHA Loans

  • Down payment: 3.5% minimum
  • Credit score: 580 minimum
  • MIP: Required for life of loan
  • Best for: First-time buyers, lower credit scores

VA Loans

VA loan advantage: No down payment, no PMI, competitive rates. If you are eligible, this should almost always be your first choice.

  • Down payment: 0% required
  • PMI: None
  • Best for: Any eligible veteran or service member

Jumbo Loans

  • For homes over: $832,750 in Houston
  • Down payment: Typically 10-20%
  • Credit score: Usually 700+
  • Best for: Higher-priced Houston properties

Bank Statement Loans

  • Documentation: 12-24 months of bank statements instead of tax returns
  • Down payment: Typically 10-20%
  • Best for: Self-employed buyers, business owners, freelancers

DSCR Loans (Investor Loans)

  • Qualification: Based on property rental income, not personal income
  • Down payment: Typically 20-25%
  • Best for: Investors purchasing rental properties

Which Loan Is Right for You?

We start every client relationship with a detailed analysis of all options, not just the obvious one. Understanding your real buying power starts with choosing the right loan type.