Fixed Rate Conforming

A 30 year fixed rate mortgage is the most common type of home loan.  The monthly mortgage payment for principal and interest combined does not change throughout the entire term of the loan.  This is helpful for budgeting household finances.  Due to the long term of the mortgage the majority of the interest is paid during the first 10 years while the majority of the principal is paid in the latter years of the loan.  This program is designed for those who prefer the stability of fixed monthly payments.

Shorter terms such as the 15 year mortgage would have higher monthly payments due to the short term, but the borrower pays much less in interest over the course of the loan.  These loans typically have a lower interest rate than 30 year loans.

A conforming loan is typically done through and according to the rules of either Freddie Mac or Fannie Mae and has a maximum loan amount of $417,000 except in High Cost Areas.

  • Up to 97% financing with NO Private Mortgage Insurance
  • Has better rates and terms than most products
  • Allows for co-signors to qualify
  • Can be used to finance a primary residence, second or vacation homes, and investment properties
  • Community reinvestment funds