Creative Mortgage Solutions
For Self-Employed Borrowers and Real Estate Investors
From Florida to California, we have alternative lending options
for self-employed and investor borrowers that requires little to no income documentation
Stable Income? Check.
As a W-2 employee, your consistent paychecks and verifiable employment make qualifying for a mortgage faster and easier. Discover loan options designed for salaried professionals today!
Financing That Broadens Your Horizon
With over 20 years of mortgage experience, and countless scenarios, our one goal is to provide smarter financing solutions, regardless
of your real estate experience
Conventional Loans Plano
Conventional loans in Plano offer a straightforward path to homeownership for borrowers who meet standard lending criteria, and Horizon Lending Services specializes in helping you navigate this option whether you fit the traditional mold or not.
Plano is home to a diverse population of professionals, entrepreneurs, and families seeking stable mortgage solutions. Whether you are a W-2 employee, a business owner, or someone with non-traditional income, understanding how conventional financing works in your market matters. Horizon Lending Services has spent over two decades helping borrowers across Texas and beyond find the right conventional loan structure for their situation.
What Makes a Conventional Loan Different From Other Options?
A conventional loan is a mortgage not backed by a government agency like the FHA or VA. Instead, it is sold to investors on the secondary mortgage market, which means lenders have clear, consistent underwriting standards. Because conventional loans carry this investor framework, they typically require a credit score of 620 or higher, a down payment between 3 and 20 percent, and documented income through tax returns or W-2 statements.
What sets Horizon Lending Services apart is how they approach conventional financing for borrowers who do not fit the rigid mold. Even within conventional lending, there is room for flexibility. If you are self-employed, operate a business, or earn income through freelance work, Horizon Lending Services understands how to present your financial picture in ways that satisfy investor requirements without forcing you into a loan type that does not fit your situation.
Conventional loans typically offer:
- Competitive interest rates compared to government-backed loans
- No mortgage insurance requirement if you put down 20 percent or more
- Faster closing timelines in many cases
- Greater flexibility in property types and investment scenarios
- Loan amounts up to $5 million for qualified borrowers
Who Should Consider Conventional Loans in Plano?
Conventional financing works well for borrowers in Plano who have solid credit, reasonable debt levels, and the ability to document their income. This includes W-2 employees buying their first home, repeat homebuyers, real estate investors purchasing rental properties, and high-net-worth individuals seeking jumbo financing.
The Plano job market attracts corporate employees, tech professionals, and established business owners. For these borrowers, conventional loans are often the most straightforward option. However, Horizon Lending Services also works with Plano residents who own businesses or earn variable income. In these cases, the mortgage broker approach allows you to explore whether a conventional loan is viable using bank statement documentation, asset-based qualification, or alternative income verification methods that still satisfy conventional investor standards.
You should also consider conventional financing if you are planning to stay in your home long-term. Because conventional loans do not carry the same regulatory restrictions as some government programs, you gain more options for refinancing, accelerating payoff, or adjusting your loan if your financial situation changes.
How Does the Application Process Work for Conventional Loans in Plano?
Applying for a conventional loan through Horizon Lending Services starts with a conversation about your income, assets, and what you are trying to accomplish. The mortgage broker role means they work on your behalf, not as a single lender with rigid boxes you must fit into.
Here is what typically happens:
- You share your financial snapshot: income, assets, debt, and credit history
- Horizon Lending Services reviews your situation and identifies which conventional loan programs and lenders make sense
- You complete a formal application with documentation (usually recent tax returns, W-2s, or bank statements)
- The lender orders an appraisal of the property
- Underwriting reviews your file for approval
- Final verification happens right before closing
- You close and receive your funding
The timeline is typically 30 to 45 days from application to closing, though it can be faster depending on market conditions and how quickly you provide documentation. Because Horizon Lending Services acts as your advocate rather than a single-option lender, they can shop your loan among multiple investors to find you competitive rates and terms. This matters in Plano, where home prices and borrower profiles vary widely across neighborhoods.
What if You Don't Have Traditional Documentation?
This is where Horizon Lending Services truly differs from a traditional bank. Even within conventional lending, there are pathways for self-employed borrowers and non-traditional income earners in Plano to qualify. If your income does not fit a standard W-2 model, Horizon Lending Services can help you explore bank statement loans, DSCR investment property loans, or asset-based qualification methods that still remain within conventional guidelines.
For example, if you own a business and your tax returns do not reflect your actual cash flow due to legitimate business expenses, a bank statement loan uses your actual deposits to verify income. If you are a real estate investor buying a rental property, a DSCR loan bases approval on the property's cash flow rather than your personal income. These remain conventional products, but they require a mortgage broker who understands how to structure them properly.
Horizon Lending Services has built relationships with lenders who specialize in these alternatives. Because they work across multiple states, including Texas, California, and Florida, they understand regional market variations and investor appetite for different loan types. This means you get real options, not a single "no" from a traditional lender.
If you are searching for conventional financing in Plano and wondering whether your income, credit, or situation will qualify, Horizon Lending Services invites you to reach out. There is no obligation to discuss your needs with a mortgage expert who understands both traditional and alternative lending paths. Contact Horizon Lending Services today to explore what is possible for you.
Frequently Asked Questions
What credit score do I need for conventional loans in Plano?
Most conventional loans require a credit score of 620 or higher, though stronger rates and terms typically begin at 640 and above. Some lenders and loan programs in Plano may have different minimums depending on your down payment and overall financial profile. Horizon Lending Services can review your specific credit situation and show you realistic options.
How much down payment is required for a conventional loan?
Conventional loans typically require 3 to 20 percent down, depending on the lender and your qualifications. If you put down less than 20 percent, you will pay mortgage insurance, which protects the lender. Putting down 20 percent eliminates this cost, but many borrowers choose lower down payments to preserve cash for other goals.
Can self-employed borrowers in Plano qualify for conventional loans?
Yes. While traditional banks may require two years of tax returns and strict income averaging, Horizon Lending Services works with lenders who use bank statements, profit and loss statements, and other documentation to qualify self-employed borrowers. Conventional loans remain available; the key is presenting your income in a way that satisfies investor guidelines.
Are conventional loans faster than FHA loans?
Conventional loans often close faster than FHA loans because they have fewer regulatory checkpoints, though timelines vary by lender and market conditions. Both typically take 30 to 45 days from application to closing. Horizon Lending Services manages the timeline and keeps you informed throughout.
What is the maximum loan amount for conventional financing?
Conventional loans can reach up to $5 million for qualified borrowers, making them suitable for jumbo purchases and high-value properties. Exact limits and terms depend on your income, assets, and the lender, but Horizon Lending Services specializes in large conventional loans nationwide.
Is mortgage insurance required on conventional loans?
Mortgage insurance is required if your down payment is less than 20 percent. The cost typically ranges from 0.5 to 1.5 percent of the loan amount annually, added to your monthly payment. Once you build 20 percent equity, you can request its removal.
Do conventional loans work for investment properties in Plano?
Yes. Conventional loans can finance investment properties, though requirements differ from primary residence loans. Horizon Lending Services also offers DSCR loans, which base approval on the property's rental income rather than your personal income, giving investors in Plano additional pathways to financing.
DSCR (Debt Service Coverage Ratio)
Maximize your portfolio potential with Non-QM loans designed for first time or savvy investors; no tax returns, just smart financing.
Self Employed
Our Self-Employed Non-QM Loans are designed for entrepreneurs, freelancers, and business owners who don’t fit the traditional lending mold. Qualify using bank statements, 1099s, a P&L or asset-based income. No Tax Returns or W2’s Required! 1 Year Self-Employed History Allowed!
VA
With a VA home loan, eligible veterans, active-duty service members, and surviving spouses can buy or refinance with zero down payment, no PMI, and competitive interest rates. Whether you’re purchasing your first home or refinancing, we make the process simple, fast, and tailored to your service.
Jumbo Loans
Unlock high-value properties with creative jumbo loan solutions up to $5 million; perfect for self-employed borrowers, luxury homebuyers, and investors with unique income streams. We go beyond the traditional box to deliver flexible financing that fits your vision.
First Time Buyer
Whether you’re eyeing an FHA loan with low down payment options or a Conventional loan with competitive rates, we help first-time home buyers navigate the path to homeownership with confidence. Get expert guidance, flexible financing, and personalized support every step of the way.
Cash-Out Refinance
Consolidate high-interest debt into one low monthly payment; using the equity you’ve already built. Pay off credit cards, personal loans, or medical bills, update your home, and regain control of your finances with a streamlined, cost-effective solution backed by competitive conventional rates.
We can’t thank Scott Simmons enough for all his help during both our original purchase of our home, as well as our recent refinancing. Scott was able to get us an incredible rate and was extremely detailed and explanatory the entire way. We, of course, had rookie questions being first-time home buyers, but he made himself available to answer and explain any of our questions and made helpful suggestions, as well as great advice given our individual situation. I highly recommend Scott for your mortgage needs!
Sarah Lati
Have always had a great experience with Horizon Lending Services. Scott and his team are the BEST! They helped us in 2021 with a refinance of our first home. Then this year they helped us with getting a loan for our property! Scott was patient and always willing to go over everything multiple times to ensure we understood everything. Kept us updated on status’ as well as just to check in.
Samantha Mellott
Just recently had the experience of working with Marcus on a loan for an investment property. Not only did he help me find the lowest cost strategy to purchase the property, he kept me updated, helped jumped through the various hurdles that came up to make sure we didn’t have any delays and the purchase was as smooth as possible. Marcus is an incredible lender and is my go to for any and all loan questions or needs
Richard Berman
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