Team Neal - Amy & Cory Neal
First Choice Loan Services

      Need a mortgage prequalification letter?  Call us NOW at 469-363-3298!     

Team Neal is a local boutique Texas mortgage lender that focuses on RAVING fan customer service and GREAT mortgage rates!

Conventional Loans

A conventional home loan is not guaranteed by a government organization, such as the Federal Housing Administration or the Department of Veterans Affairs. The qualifying criteria for a government-backed loan and a conventional loan aren’t much different, but conventional loans are likely to be harder to get and more stringent on qualifications. These loans adhere to Fannie Mae or Freddie Mac guidelines.  About 35-50% of mortgages, depending on market conditions and consumer trends, are conventional mortgages. In other words, Fannie Mae and Freddie Mac guarantee or purchase 35-50% of all mortgages.