Conventional Loans

Understanding Conventional Loans

Conventional mortgages are private loans not backed by the government, following Fannie Mae or Freddie Mac guidelines. They offer better rates and terms with lower fees for those with good-to-excellent credit, manageable debt, a 5-20% down payment, and stable income. Ideal for borrowers with strong credit and a minimum 5% down payment.

Conventional loans offer a spectrum of terms to fit diverse financial goals, ranging from 30-year to as short as 5-year options. These varying term lengths provide borrowers with the flexibility to choose a mortgage that aligns with their long-term financial planning and repayment preferences. Whether you're looking for lower monthly payments spread over decades or aiming to pay off your home quickly with higher payments, there's a conventional loan tailored to your needs.

30 Year Fixed Load

Lowest monthly payment.

15 Year Fixed Loan

Lower rates than other 30 and 20 year loans.

20 Year Fixed Loan

Lower monthly payment.

10 Year Fixed Loan

Lower rate, pay off your loan and build equity faster.

Fixed-rate mortgages are loans where the interest rate stays the same for the entire term of the loan, ensuring that your monthly mortgage payments remain unchanged. This consistency makes budgeting easier because you can predict your housing costs for the future, without worrying about interest rate fluctuations. The main benefits include stability in your monthly payments, protection against rising interest rates, and the simplicity of having a straightforward payment schedule. It's an ideal choice for those who plan on staying in their home for many years and prefer the predictability of fixed expenses.