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Fixed Conventional Mortgage Rate - Homesinvirginia

Conventional Fixed Rate Mortgage

5-Year Fixed-Rate Historic Tables HTML / Excel Weekly PMMS Survey Opinions, estimates, forecasts and other views contained in this document are those of Freddie Mac’s Economic & Housing Research group, do not necessarily represent the views of Freddie Mac or its management, should not be construed as indicating Freddie Mac’s business prospects.

A conventional mortgage is a home loan that’s not government guaranteed or insured. Down payments are as small as 3%, but credit qualifications are tougher than for FHA loans and other federally.

Conventional Fixed Rate Life throws a fair share of curveballs, but with a traditional fixed rate mortgage, there’s no need to worry about the unexpected. Your interest rate, monthly principal and interest payments are set from the start and won’t change over the life of the loan.

A conventional fixed-rate mortgage guarantees a fixed interest rate and payment over the life of the loan with terms ranging in average from 10 to 30 years.

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 $484,350.

Current Mortgage Lending Rates Compare Mortgage Rates. Get Personalized Rates. Last Friday’s job report showed a deceleration in the pace of new jobs, up just 157,000 in July and the weakest since march. upward revisions to the prior month, adding 59,000 jobs still made for a robust report. The unemployment rate fell to 3.9% from 4.0% reflecting how tight the job market is.

Conventional mortgage insurance will fall off automatically when the loan is paid down to 78 percent loan to value (LTV), whereas the FHA premiums will exist throughout the life of the loan if the down payment was less than 10 percent. conventional loans can also be used to purchase investment property and second homes.

Conventional Fixed Rate Mortgage We provide terms ranging from 15 to 30 years. As one of our most popular mortgage products for both first-time and veteran home buyers, a conventional loan is perfect for those intending to stay in the home for the long haul.

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