Conventional fixed-rate loans come with a "fixed" interest rate that doesn't change over the life of the home loan. This means a home-buyer won't have to worry about a surprise change in the interest rate amount.
If you're looking for a home that you will live in for a long period of time, this loan may be a good option for you. Other requirements include that a home-buyer has a solid and established credit history and that they are able to pay at least 5% on a down payment.
- A fixed interest rate that won't change over time
- The lowest fixed rate options for qualified buyers