Conventional Loans in Dallas–Fort Worth
The default option for most buyers with established credit — and the program where the down payment, the mortgage insurance, and the rate are most tightly linked. Small moves in one change all three.
| At a glance | Detail |
|---|---|
| Minimum down payment | 3% for qualifying first-time buyers, 5% otherwise, 15% on a two-unit |
| Mortgage insurance | Required above 80% LTV; priced by credit score and LTV; cancellable |
| Seller/interested-party credit ceiling | 3% under 10% down · 6% from 10–24.99% · 9% at 25%+ |
| Credit | 620 minimum in most cases; pricing improves in tiers up to 780 |
The number most buyers miss
On a conventional loan, your credit score and your loan-to-value don't just move the rate — they move the mortgage insurance premium too. Going from 5% down to 10% down can cut the monthly MI meaningfully while also improving rate pricing. That is two savings from one decision, and it's the kind of thing worth modeling before you write an offer, not after.
Where the program applies
A conventional purchase has the tightest contribution ceiling of the common programs when you're putting less than 10% down — 3% of the purchase price. That ceiling covers everything an interested party contributes, including a rate buydown. If your down payment is 10% or more, the ceiling opens to 6% and there is far more room to direct the benefit where you want it.
When conventional beats FHA
Once your credit is strong and you have 5% or more, conventional usually wins on total cost because the mortgage insurance is cancellable and often cheaper. FHA tends to win when credit is thinner or the debt-to-income ratio is stretched. The honest answer is that it depends on your file, which is why we run both before you shop.
What this program looks like on your numbers
Select Conventional in the calculator below to see the payment, the mortgage insurance treatment, and where the contribution ceiling binds.
Where should the benefit go?
Assumptions — edit any of these
On Auto, conventional mortgage insurance is estimated
from a built-in premium grid by credit range and loan-to-value, and FHA uses the factors above. Those are
illustrative approximations — the live rate card is in src/data/mi-rates.js. Override any
single file with your actual quote using the
% / yr or $ / mo control. Credit-tier rate adjustments and interested-party
contribution ceilings are applied automatically from the loan program, credit range, and loan-to-value.
Interest rate and buydown cost come from the loaded wholesale rate sheet: the base price at each rate for
your lock period, plus the loan-level price adjustments for credit, LTV, occupancy and loan size. The rate
shown is par — the cheapest rate that costs you nothing — and a buydown walks down that same
ladder for whatever the benefit actually pays for. Commission is negotiable and not set by law; the figures
above are placeholders for illustration, not an offer.
Tell me your payment. I’ll build the plan around it.
Send the monthly number you’re comfortable with and I’ll come back with a purchase range, a loan program comparison, and what the BuyBorrow Advantage™ benefit looks like on your file.