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Fixed-Rate Loans

Fixed-Rate Loans

The most common option for home buyers

Conventional fixed-rate mortgages represent the vast majority of home loans originated in the US. These loans are best for borrowers with great credit, and they have a fixed interest rate, meaning your monthly payment of principal and interest remains fixed for the entire loan term.

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Product requirements

Meeting product requirements does not guarantee qualification. All loan product offerings are subject to underwriting approval and do not represent a commitment to lend.
5%
Minimum down payment
620
Minimum credit score
45%
Max debt-to-income
ZERO
Closing costs

Product benefits

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Lower monthly payment

Conventional loans only require mortgage insurance for down payments less than 20%. Avoiding mortgage insurance can substantially reduce your monthly payment.

Additional considerations

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Qualification

Conventional loans have stricter qualification requirements compared to FHA loans.

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