Conventional
30-Year Fixed Mortgage
Predictable payments, every single month
The 30-year fixed mortgage is the most popular home loan in America for good reason: your rate and principal-and-interest payment never change, making long-term budgeting straightforward. Whether you're a first-time buyer or moving up, this loan offers stability from day one through your final payment.
- Fixed rate for the full 30-year term
- Lower monthly payment vs. shorter terms
- Conventional conforming, up to your county's limit
- PMI removable at 80% LTV
How people usually document income for this
What it gives you
Why people choose this one
Payment certainty for three decades
Your principal and interest payment is set at closing and never changes, protecting you from market swings and making household budgeting effortless year after year.
Lower required monthly outlay
Spreading repayment over 30 years keeps each payment lower than shorter-term alternatives, giving you room to direct cash toward savings, retirement, or other goals.
Flexibility to pay extra
There's no prepayment penalty — make extra principal payments whenever you like to shorten your term and save on interest without any obligation.
Broad qualification landscape
The 30-year fixed is available as a conventional, FHA, VA, or USDA loan, meaning a wide range of buyers and income types can access this time-tested product.
What you need
- Minimum credit score of 620 for conventional; lower thresholds apply under government variants
- Debt-to-income ratio typically at or below 45%
- Steady, verifiable income and two-year employment history
- Loan amount at or below the conforming limit for your county
- Down payment as low as 3% for eligible first-time buyers; 20% eliminates PMI
- Property must serve as primary residence, second home, or investment (guidelines vary)
Programme facts
- Min. down paymentFirst-time / eligible buyers
- 3%
30-Year Fixed vs. 15-Year Fixed
| 30-Year Fixed | 15-Year Fixed | |
|---|---|---|
| Monthly payment (on $400k) | Lower (~$2,600) | Higher (~$3,400) |
| Total interest paid | Higher over term | Much lower over term |
| Rate | Slightly higher | Slightly lower |
| Best for | Cash-flow flexibility | Fast equity, early payoff |
The sequence
How a file like this gets built
- 01
Pre-approval
Submit your income, assets, and credit info online. We'll issue a pre-approval letter — usually within one business day — so you can shop with confidence.
- 02
Lock your rate
Once you're under contract, we'll help you choose the right rate-lock period so you're protected from market movement while we process your file.
- 03
Appraisal and underwriting
We order the appraisal, verify your documents, and push through underwriting — keeping you updated at every milestone.
- 04
Clear to close
Once underwriting approves your file, we schedule closing, walk you through final numbers, and hand over the keys.
Questions
About 30-year fixed mortgage
What is the 2026 conforming loan limit for a 30-year fixed?
A loan above the conforming limit that applies where you are buying needs a jumbo product. Loan limits are set every year by the FHFA for conforming loans and by HUD for FHA, and they differ county by county. This demonstration does not publish the figures, because a number typed into a website goes stale the week it ships — look up the current limit for your own county before relying on one.
Can I remove PMI on a 30-year fixed conventional loan?
Yes. Once your loan balance reaches 80% of the original appraised value — through payments, appreciation, or extra principal — you can request cancellation. PMI automatically terminates at 78% LTV under the Homeowners Protection Act.
Is a 30-year fixed better than a 15-year fixed for me?
It depends on your cash-flow needs. The 30-year keeps monthly payments lower and gives you flexibility; the 15-year costs less in total interest and builds equity faster. Many buyers choose the 30-year and make occasional extra payments.
Can I pay off a 30-year fixed mortgage early?
Absolutely. Conventional 30-year fixed loans carry no prepayment penalty. You can make extra principal payments monthly, annually, or as a lump sum to shorten your effective term and reduce total interest.
Demonstration form
Ask about a 30-year fixed mortgage
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