Conventional Loans 2017-07-10T17:35:54+00:00

Finance Your Dream Home with a Conventional Loan

Today’s interest rates are at near-historic lows for conventional home mortgages — making now the perfect time to buy your home. When you choose a conventional loan from Mortgages USA, you’ll get the most competitive rates our loan officers have to offer, and lock them in for the life of your loan.

The standard mortgage loan is our most popular loan product because it gives homebuyers greater stability in their mortgage payments, and provides the best security against rising mortgage rates and higher payments. Unlike adjustable-rate mortgage loans (ARMs), which have interest rates that may rise over time, a conventional, fixed-rate mortgage has an interest rate that won’t change unless you refinance.

No — but if you’re not moving in a few years, a fixed rate might be your best choice today. The interest rate for a 30-year mortgage averaged 4.05 percent in April of 2017, according to Freddie Mac. Compare that with 13.88 in 1984, or 8.05 percent in the year 2000.

Just a few percentage points can mean thousands of dollars over the life of a 30-year mortgage loan. While property taxes and home insurance rates will change during the life span of your loan, when you choose a standard mortgage loan from Mortgages USA, your interest rate won’t. This means lower monthly payments.

You don’t have to save up for a 20 percent down payment to enjoy the security of a low, fixed payment on your loan. You can put as little as 5% down on a 30-year fixed mortgage from Mortgages USA.

While the 30-year fixed mortgage is our most popular standard mortgage loan, we also offer fixed-rate mortgages for 10, 15, 20, and 25-year terms. The shorter your term, the less interest you’ll pay. No matter how long you finance your mortgage, you’ll have peace of mind knowing your interest rate won’t change, so you can plan your budget.

In today’s hot real estate market, homebuyers often find themselves competing with other offers. Sellers may prefer buyers with conventional standard mortgage loans because these home mortgage loans are usually simpler to process than FHA loans or VA loans.

You can refinance up to 95% of your home’s value with a 30-year fixed standard mortgage loan from Mortgages USA.

Mortgages USA also offers cash-out refinance options. Refinance up to 80% of your standard mortgage loan to take cash out and pay down debt.

Find out what interest rates are available to you with a standard mortgage loan.

Apply Now