From 3% down starter loans to move-up jumbo-adjacent financing — conventional covers Austin's range.
Austin's housing market demands financing that's fast, clean, and competitive. Conventional loans are the backbone of most Austin purchases above $350,000. With HomeReady and Home Possible options starting at 3% down, conventional can compete with FHA even for first-time buyers — and the PMI cancels when you hit 20% equity, which happens fast in an appreciating market. For move-up buyers with equity from their starter home, conventional gives you the flexibility to finance your next home before your current one sells.
If you bought in Austin pre-2022 and have significant equity, consider a conventional refinance cash-out to access that equity for your next investment or home improvement. Austin homeowners are sitting on 40–80% appreciation from 2019 values.
Austin conventional approvals for tech workers require careful handling of RSU/bonus income, especially for jumbo-adjacent loans. I build complete income analysis upfront so there are no surprises in underwriting.
Conventional rates in Austin vary significantly by credit score and LTV. 760+ at 20% down is the best scenario. For buyers at 5% down with 680 credit, FHA may actually cost less when you factor in the rate difference. I always model both.
HomeReady (Fannie Mae) or Home Possible (Freddie Mac) — both allow 3% down and offer reduced PMI rates for buyers at or below 80% of the area median income. Combined with strong credit, these programs can be more cost-effective than FHA over a 5-year window in an appreciating market like Austin's suburbs.
A true bridge loan is a specialty product. More commonly, buyers use a conventional loan and carry both mortgages temporarily, or sell first and use an extended leaseback from the seller. I'll walk through the options for your specific situation — the right approach depends on your equity position and cash reserves.
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Learn More →Free consultation. I'll tell you exactly what you qualify for in Austin and what your real monthly payment will be. Pre-approval in 24 hours.
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