Conventional Fixed Rate Home Loan

Western Vista offers a fixed rate Conventional Home Loan. Conventional Home Loans are underwritten to guidelines offered by Fannie mae or Freddie mac. These loans are used for purchase, refinance, and investment property loans. Conventional loans can be used to borrow up to $510,400 on a one unit home. 

What Is Conventional Fixed Rate Home Loan?
As its name implies, a fixed rate home loan is one where the interest rate on your home loan remains the same throughout its duration. This differs from a loan where the interest rate may change over time, called an adjustable rate mortgage. Fixed rate mortgages are the most popular form of home loan in the United States largely due to the appeal of a consistent mortgage payment amount over the life of the loan.

Conventional Loans Benefits
The biggest benefit of a fixed rate mortgage is the fact that the interest rate does not change over time. This allows you to budget your finances and make a consistent, fixed payment over the duration of your loan.
Fixed rate mortgages allow you to lock in an interest rate and principal payment for the entire life of your loan. Your rate and principal payment never increase, even if the market changes – giving you peace of mind. 

Other benefits include:

  • Down payment as low as 3%
  • Competitive interest rates
  • Easier-to-understand loan terms and paperwork
  • Ability to remove mortgage
  • Can combine with a second mortgage to eliminate mortgage insurance

Get Pre-Qualified For A Fixed Rate Home Loan
With flexible options, program expertise, and superior service, we’ll work with you from application to close to ensure a smooth loan process and create a loan program that meets your financial needs and goals. Get started today.

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