Conventional Home Loans in Austin, TX
Conventional loans are the most common path to homeownership for buyers with solid credit. As a mortgage broker, 360 Lending Group shops your scenario across the top wholesale lenders in the country, which frequently means better pricing than any single bank can offer.
2026 Loan Limits
For 2026, the conforming loan limit for a single-family home in Travis, Williamson, and all Texas counties is $832,750. Loans above that amount fall into jumbo territory — see our Jumbo Loans page.
Why Choose a Conventional Loan?
Down payments start as low as 3% for qualified first-time buyers. With 20% down you avoid private mortgage insurance entirely, and PMI on smaller down payments automatically ends once you reach 22% equity. Conventional loans work for primary residences, second homes, and investment properties, and they typically close quickly — at 360 we can close in as little as 15 days.
Is It Right for You?
Conventional financing usually rewards credit scores of 620 and up, with the best pricing above 740. If your credit or down payment doesn’t fit, an FHA loan may be a better match — part of our job is running both and showing you the numbers side by side.
Conventional Loan FAQs
How much do I need to put down on a conventional loan?
As little as 3% for qualified first-time buyers, and 5% is common for repeat buyers. Put 20% down and you skip PMI entirely. Gift funds from family are allowed toward the down payment.
What credit score do I need for a conventional loan?
620 is the practical minimum, and pricing improves in tiers as scores rise — the best rates generally start around 740. Because we shop dozens of wholesale lenders, a borderline score often prices better with us than at a single bank.
Is PMI permanent on a conventional loan?
No. PMI cancels automatically once you reach 22% equity, and you can request removal at 20%. Lender-paid PMI options can also trade a slightly higher rate for no monthly PMI.
Should I choose conventional or FHA?
It depends on your credit and down payment. Stronger credit usually favors conventional; thinner credit or a smaller down payment can favor FHA. We run both side by side and show you the numbers before you choose.
Related programs: FHA Loans · Jumbo Loans · Investment Property Loans
Don Groff shops dozens of wholesale lenders for your best rate — with closings in as few as 15 days.
360 Lending Group, LLC — NMLS 266484. This information is for general education and is not a commitment to lend or a rate quote. Loan programs, limits, and terms are subject to change and to borrower qualification. Figures cited are 2026 limits and may differ by county and property type.
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