ID of Level 3 Parent: 1594

Conventional Fixed-Rate Mortgage

  • Do you plan to stay in your home for many years?
  • Do you prefer a consistent mortgage payment for budget planning?
  • Does your peace of mind depend on a payment that never changes?
  • Do you have equity or a down payment of more than 20% and wish to avoid mortgage insurance?

If you answered “yes” to any of these questions, a conventional fixed-rate mortgage might be right for you! Since your rate won’t change for the life of your loan, your principal and interest payment will never increase.

Conventional Fixed-Rate Mortgage Features

  • 30, 25, 20, 15 and 10-year terms are all available with fixed-rates.
  • Purchase with as little as 5% down or refinance up to 95% of value (using private mortgage insurance).
  • Loan amounts from $40,000 to $453,100.

How a Conventional Fixed-Rate Mortgage Works

  • Monthly payments based on interest rate, principal loan amount, and amortized interest over the life of the loan, 30 years, for example.
  • Your principal and interest payment will not change throughout the life of the loan.
  • Your actual payment will vary based on your financial situation and the current interest rates when you apply.

             

Ready to Talk About Your Mortgage?

       

901-844-0421

Contact Us