With a conventional 30 year fixed-rate mortgage, the borrower will make 360 equal monthly payments. The principle and interest amount of the monthly payment never changes for the entire life of the loan. These loans are financially backed by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Association (Freddie Mac) and sold in the secondary market as mortgage backed securities.  

Contact us to learn more about conventional 30 year fixed rate mortgages and let one of our friendly, experienced loan originators help you choose the right product to fit your needs.