I'm Bond Peter Njoku (NMLS #2670329), your Dallas conventional loan officer. Dallas has one of the widest home price ranges in DFW — from $250,000 bungalows in Oak Cliff to $700,000+ properties in Preston Hollow — and the $806,500 Dallas County conforming limit covers most of the market. For buyers with 680+ credit, conventional delivers better monthly economics than FHA.
Dallas neighborhoods span every price point in DFW — Lower Greenville, Lakewood, Oak Cliff, East Dallas, Deep Ellum, and dozens of established neighborhoods where homes sell $280,000–$600,000. The $806,500 Dallas County conforming limit covers virtually every standard Dallas purchase. For buyers with 680+ credit, conventional financing delivers lower PMI than FHA, no upfront MIP, and equity that eventually cancels mortgage insurance altogether.
Dallas also has the Dallas DHAP (up to $60,000 forgivable) for first-time buyers in Dallas city limits — but DHAP is paired with FHA, not conventional. I'll show you which combination — FHA + DHAP vs. conventional — saves more money over your specific hold period.
| Minimum credit score | 620 (best pricing: 680+) |
|---|---|
| Down payment | 3% – 20%+ |
| Upfront MIP | None |
| PMI (if <20% down) | Yes — cancels at 78% LTV |
| Income limits | None |
| 2026 loan limit (Dallas County) | $806,500 |
| Typical Dallas price range | $250,000–$700,000+ |
| Conventional | FHA | |
|---|---|---|
| Purchase price | $380,000 | $380,000 |
| Down payment (5%) | $19,000 | $19,000 |
| Upfront fee | $0 | $6,283 (1.75%, rolled in) |
| Monthly MI | ~$130/mo (PMI) | ~$260/mo (MIP) |
| MI removal | Cancels at 80% LTV | Stays for life if <10% down |
| 5-year MI total | ~$7,800 | ~$21,883 (incl. upfront) |
Estimates based on 700 credit, 5% down, 30-yr fixed. Actual rates and MI vary.
At 700 credit on a $380,000 Dallas home, the conventional buyer saves roughly $130/month in mortgage insurance — and that PMI eventually cancels. Over 5 years, the total difference is over $14,000. The right answer depends on your exact credit score, down payment, and how long you plan to stay in the home.
If you're a first-time buyer eyeing the Dallas DHAP ($60K forgivable), the FHA+DHAP math may change. I'll model both paths side-by-side for your specific situation.
I'm Bond Peter Njoku (NMLS #2670329), a licensed mortgage loan officer serving Dallas and all of Dallas County. I offer conventional, FHA, VA, and USDA loans. Call or text 469-545-7180.
$806,500 for Dallas County. Most Dallas purchases fall within this — only luxury properties in Preston Hollow, Highland Park, or University Park typically go jumbo. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
It depends on your credit, income, and hold period. FHA+DHAP (up to $60K forgivable) lowers your upfront cost significantly. At 680+ credit without DHAP, conventional usually wins on monthly cost. I'll model both paths for you. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
Minimum 620, best rates at 680+. At 740+, you're in the top tier. I'm Bond Peter Njoku (NMLS #2670329) — I'll pull your scores and show you exactly where you land and what it costs. Call 469-545-7180.
I'm Bond Peter Njoku (NMLS #2670329), your Dallas conventional loan officer. Call, text, or WhatsApp me at 469-545-7180 — I'll compare conventional vs. FHA (with and without DHAP) and have a pre-approval ready fast.
Also serving nearby: Dallas · Conventional in Garland · Conventional in Irving · Conventional in Richardson · Conventional Loans Overview · FHA Loans in Dallas · VA Loans in Dallas