30 year fixed

How a Conventional 30 Year Fixed Mortgage Works

You’ll pay off the mortgage in 30 years. Although you’ll pay more interest over the life of the loan compared to lower term year mortgages, your monthly payments will be lower.


  • You can pay down your mortgage at any time without prepayment penalties.
  • Your payment will go toward paying the principal (the amount you borrow) and interest (a fee you agree to pay when borrowing the money). It’ll also be used to pay your taxes and insurance.
  • With a fixed interest rate, your principal and interest payments won’t change over the life of the loan. The amount for your taxes and insurance can go up and down.
  • You might have to pay for mortgage insurance. This depends on your down payment if you’re buying a home, or how much equity you have if you’re refinancing.

Fixed Rate

Your interest rate is fixed for the life of the loan, so you don’t have worry about rising rates

Lower Payments

Your monthly payments will be less for a 30-year fixed than say a 15-year fixed mortgage

Low Down Payment

Buy your primary home with as little as 3% down

Great Refiancing Options

Refinance your primary home for up to 97% of its value

Lock In Your Rate

If you’re shopping for a new home, you can lock your interest rate for 180 days with no upfront fees

Float Down

We also allow a float down within 60 days of the original lock expiring if rates were to drop

They were attentive to all our needs, answered all of our questions, was extremely timely getting back to us, and was very detail oriented. Stonegate Mortgage was on top of all of our deadlines, important dates and requirements during this process, and saw us through the process right through our actual closing.

Matthew G.

Years in business

Loans closed

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