What is a conventional fixed-rate mortgage?
A conventional fixed-rate mortgage is one of the most popular home loan options. It offers the stability and predictability of an interest rate that remains the same throughout the life of the loan.
• 30-year term: Offers the lowest monthly payment among fixed-rate mortgage options. It's a good choice if you plan to stay in your home for many years.
• 15-year term: Typically offers a lower interest rate and allows you to build equity and pay off your mortgage faster.
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