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The Lowdown on a Conforming Mortgage...

Our Conforming Mortgage Rates Are Low & Our Process is Quick & Painless

The two most popular Conforming Mortgages are a 30-year fixed-rate mortgage, and a 15-year fixed-rate mortgage. The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer.

A 15-year fixed-rate mortgage loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate, and you'll payoff your home twice as fast. The disadvantage with a 15-year loan is that you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn't that great.

We’re here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way. Check out the following options:

We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.

The Basics

The most common type of Conforming mortgage loan have rates that are fixed for 30 years (a “30-yr fixed” rate mortgage). A 15-year fixed rate mortgage is also very popular, and provides a lower interest rate than a 30-year mortgage. However, on a 15-year loan, the payments are higher, because you are paying more principal as you pay the the loan off quicker than a 30-year loan. For those interested in lowest monthly payments, a 30-year option is typically best. But for those interested in lower interest expense over the life of the loan, a 15-year mortgage is typically a better option.  There are also 10-year, 20-year, and 25-year fixed options available.

  • Loans backed by Fannie Mae and Freddie Mac
  • Loan amount restricted to conforming loan limit of State and County
  • Fixed rate terms from 10 years to 30 years
  • Adjustable Rate Mortgage (ARM) options