Conventional loan home buying guide for 2019. Rates for 30-year fixed conventional loans have remained below 4.5% for some time, and rates are not expected to rise above that level in the near.
Conventional Fixed Rate Life throws a fair share of curveballs, but with a traditional fixed rate mortgage, there’s no need to worry about the unexpected. Your interest rate, monthly principal and interest payments are set from the start and won’t change over the life of the loan.
well-qualified borrowers can get the following fixed-rate mortgages without points: 15-year FHA (up to $431,250 in the Inland Empire, up to $484,350 in Los Angeles and Orange Counties) at 3%, 30-year.
A “Conventional” (Conforming) Fixed Rate mortgage is ideal for borrowers with very good credit, generally a FICO score of 740 or higher needing a loan under.