I'm Bond Peter Njoku (NMLS #2670329), your Terrell conventional loan officer. Terrell in Kaufman County is one of the most affordable DFW markets, with homes priced $200,000–$300,000 and widespread USDA eligibility. For buyers above the USDA income limit or who want to put down a larger payment to reduce monthly costs, conventional financing is the right move. I'll run all three options side-by-side.
Most Terrell buyers I work with start by asking about USDA — and for good reason. USDA's $0 down and low annual fee are attractive at Terrell's price points. But buyers who earn above ~$112,450 (Kaufman County USDA income limit), or who've saved 5–20% and want to eliminate or minimize monthly insurance costs, benefit from conventional financing.
At 680+ credit on a $260,000 Terrell home, the monthly PMI on a conventional loan is roughly half of FHA MIP — and it cancels once you hit 80% LTV. The total insurance savings over 5 years often exceeds $8,000. I'll show you the exact comparison for your credit score and down payment.
| 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 (Kaufman County) | $806,500 |
| Typical Terrell range | $200,000–$300,000 |
| Conventional | USDA | FHA | |
|---|---|---|---|
| Purchase price | $260,000 | $260,000 | $260,000 |
| Down payment | $13,000 (5%) | $0 | $9,100 (3.5%) |
| Upfront fee | $0 | $2,600 (1%, rolled) | $4,385 (1.75%, rolled) |
| Monthly MI | ~$83/mo | ~$61/mo (.35%) | ~$181/mo |
| MI removal | Cancels at 80% LTV | Stays for loan life | Stays for loan life |
Based on 700 credit. Actual rates and MI differ. USDA requires eligible address.
At these Terrell price points, USDA wins hands-down on cash to close — but conventional's cancelling PMI eventually makes it cheaper long-term. If you can put 5–10% down, conventional often beats USDA's total cost over a 5–7 year hold. If cash is tight, USDA is the right answer. I'll model both for you.
I'm Bond Peter Njoku (NMLS #2670329), a licensed mortgage loan officer serving Terrell and Kaufman County. I offer conventional, FHA, VA, and USDA loans. Call or text 469-545-7180.
USDA wins on upfront cash. Conventional wins on long-term cost when you can put down 5–10% and your income exceeds USDA limits (~$112,450). I run both for every Terrell buyer. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
$806,500 for Kaufman County. Terrell's price range ($200K–$300K) is well below that. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
Minimum 620, with best rates at 680+. At 680+, conventional PMI is roughly half the cost of FHA MIP on Terrell homes. I'm Bond Peter Njoku (NMLS #2670329). Call 469-545-7180.
I'm Bond Peter Njoku (NMLS #2670329), your Terrell mortgage loan officer. Call, text, or WhatsApp me at 469-545-7180 — I'll compare USDA, FHA, and conventional for your exact file and have pre-approval ready fast.
Also serving nearby: Terrell · Conventional in Forney · Conventional in Royse City · Conventional Loans Overview · FHA Loans in Terrell · USDA Loans in Terrell