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.
Why choose this loan
Benefits of a 30-Year Fixed Mortgage
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.
Eligibility
Do you qualify?
Typical guidelines for a 30-Year Fixed Mortgage. Final eligibility is determined during underwriting.
- 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 2026 conforming limit of $832,750 for a standard conventional loan
- 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)
Sample scenarios
Illustrative 30-Year Fixed Mortgage rates
30-Year Fixed (conventional)
6.75%
Illustrative rate; APR ~6.92%
Points option (1 pt buy-down)
6.375%
Illustrative with 1 discount point
Min. down payment
3%
First-time / eligible buyers
Rates shown are for illustrative purposes only, are not a quote or guarantee, and do not reflect a specific offer. Actual rates depend on credit score, loan amount, loan-to-value, occupancy, and other factors, and change daily. Contact us for a personalized rate quote.
How it works
Your path to approval
- 1
Pre-approval in 24 hours
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.
- 2
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.
- 3
Appraisal and underwriting
We order the appraisal, verify your documents, and push through underwriting — keeping you updated at every milestone.
- 4
Clear to close
Once underwriting approves your file, we schedule closing, walk you through final numbers, and hand over the keys.
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 |
Frequently asked questions
What is the 2026 conforming loan limit for a 30-year fixed?
For most of the country, the 2026 baseline conforming limit is $832,750 for a single-unit property. High-cost areas can go up to $1,249,125. Loans above these limits require a jumbo product.
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.
Ready to explore a 30-Year Fixed Mortgage?
Talk to a loan officer today — friendly, no-pressure guidance from real humans.