Conventional Home Loans

Conventional Mortgage Loans

Conventional or conforming loans refer to most mortgages not backed by the federal government. These loans follow the terms and conditions set by Fannie Mae and Freddie Mac, government-sponsored institutions that are the largest purchasers of mortgages in the United States.


A conventional mortgage comes with stricter approval standards than government loans, so it’s generally best for borrowers that have a higher credit score, stable employment and income, and a debt-to-income ratio of less than 45%.


A common misconception about conventional mortgages is that a 20% down payment is required. However, down payment requirements may vary based on your situation. A lower down payment of 3% is possible in combination with paying for private mortgage insurance (PMI), which is included in your monthly mortgage payment.

Why Choose a Conventional Loan?

A conventional loan could be your best bet for a mortgage if you’re a borrower with higher credit. By having a higher credit score, you may be able to take advantage of additional conventional loan benefits, like competitive pricing, no mortgage insurance if you put at least 20% down, or the option of a lower down payment in combination with mortgage insurance.

What Are the Benefits of Conventional Loans?

  • Competitive pricing
  • No prepayment penalty ever
  • No mortgage insurance option
  • Up to 45% debt-to-income ratio
  • Allows for 3% seller paid closing costs

What Are the Waiting Periods After a Hardship?

  • Competitive pricing
  • No prepayment penalty ever
  • No mortgage insurance option
  • Up to 45% debt-to-income ratio
  • Allows for 3% seller paid closing costs

What Are the Most Common Conventional Loan Programs?

Conventional Purchase
  • Loan amounts up to $647,000 in low cost areas: $947,800 in high cost areas
  • 3%, 5%, 10%, or 20% or more down
  • Do not need to be a first time buyer
  • Available with or without mortgage insurance
Conventional Refinance
  • Competitive interest rates
  • Loan amounts up to $647,000 in low cost areas; $947,800 in high cost areas
  • 30yr, 25yr, 20yr, 15yr, or 10yr
  • Fixed or adjustable rates available
Conventional Cash Out
  • Up to 80% LTV
  • Competitive interest rates
  • Payoff a 2nd mortgage or HELOC
  • Cashout to pay off high interest debt

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13460 Vista Oaks Dr, Unit B

Leander, TX 78641

Waymaker Mortgage, Team Scottie, Team Natalie and The Campbell Mortgage Team are powered by Waymaker Mortgage Company LLC

NMLS # 2440476 | Principal Broker: Scottie Campbell NMLS # 1610726

Copyright 2023 @ Waymaker Mortgage Company LLC and its licensors | NMLS 2440476 | All rights reserved.

Terms, conditions, and restrictions may apply. Loan products are subject to availability and credit approval. Not a commitment to extending credit. | Mortgage Company Complaint

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BRAND AFFILIATION DISCLOSURE: "Waymaker Mortgage" has previously been a legal trade name (DBA) of Kama'aina Mortgage Group, Inc. NMLS 1276471 and Hometown Lenders, Inc. NMLS 65083.

The name "Waymaker Mortgage" is no longer associated with either of these organizations.

Waymaker Mortgage Company LLC - NMLS 2440476, is licensed under the laws of the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Banking - Division of Savings and Mortgage Lending. Texas Mortgage Banker Disclosure – Figure: 7 TAC 81.200(c) “CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”

Consumer Complaint Policy 

It is the policy of our company to respond to customer complaints, disputes and issues immediately, to take each complaint seriously, to investigate each complaint however small it is – immediately and to take remedial actions swiftly. As soon as a complaint is received, it is documented and is logged into a special log. The complaint is sent directly to the Customer Complaint Officer or his/her designate, in order to take action. All complaints and records of complaints are kept in a special complaints binder along with all the Customer Complaint Officer's Quality Control Files and other written policies so employees can easily access them and use them to provide better customer service. Reports on complaints are reviewed during the Customer Complaint Officer's meetings with our Board. We are focused on providing financial products and services to all customers in compliance with all Federal and State regulatory policies including but not limited to consumer protection, fair lending and civil rights laws.

For more information, contact us at the number on the Home Page.

Privacy Act Disclosure 

Your privacy is very important to us. Accordingly, we have developed this Policy in order for you to understand how we collect, use, communicate and disclose and make use of personal information. Before or at the time of collecting personal information, we will identify the purposes for which information is being collected. We will collect and use of personal information solely with the objective of fulfilling those purposes specified by us and for other compatible purposes, unless we obtain the consent of the individual concerned or as required by law. We will only retain personal information as long as necessary for the fulfillment of those purposes. We will collect personal information by lawful and fair means and, where appropriate, with the knowledge or consent of the individual concerned. Personal data should be relevant to the purposes for which it is to be used, and, to the extent necessary for those purposes, should be accurate, complete, and up-to-date. We will protect personal information by reasonable security safeguards against loss or theft, as well as unauthorized access, disclosure, copying, use or modification. We will make readily available to customers information about our policies and practices relating to the management of personal information. We are committed to conducting our business in accordance with these principles in order to ensure that the confidentiality of personal information is protected and maintained. This short outline included important aspects of our privacy policy. To review our entire privacy policy, email us at the address on our home page.