Conventional Mortgage

Conventional Fixed Rate Mortgage

A “Conventional” (Conforming) Fixed Rate mortgage is ideal for borrowers with good credit needing a loan under $832,750 that plan to stay in the home for several years.  A “conventional” (conforming) mortgage is a loan that conforms to established guidelines for the size of the loan and your financial situation.

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Features of Conventional Fixed Rate Mortgage

  • Maximum loan amount is generally limited to $832,750 for a single-family home (limits may be higher in regions where home prices are higher)
  • Typically requires at least 5% down payment although options as low as 3% down could be available. (Terms improve with higher down payment amounts)
  • Popular fixed rate loan terms include 30-year, 20-year and 15-year (the longer the loan term the lower the monthly payments but also the more interest paid over the life of the loan)
  • Eligible for first time homebuyer or repeat buyer
  • Eligible for primary residence, secondary home or investment property

Benefits of Conventional Fixed Rate Mortgage

  • Interest rate does not change over the life of your loan, so easy to budget for monthly payments
  • May offer a lower interest rate and APR than other types of fixed-rate loans

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Ashley was great helped me out alot made the experience alot better than what I was dealing with

Dalton G.
Rating: 5 out of 5

All I can say is Will was great in helping us getting our nome We will never forget Will thank you Will

Jackie Faye W. Calera, AL
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Jason was professional and knowledgeable and guided through the process expertly

Don D. LaPlace, LA
Rating: 5 out of 5

Ashley and her team at GMFS are amazing to work with. They made our first time home buying experience easy and memorable. Ashley was super knowledgeable and professional, she answered every question and kept us informed while dealing with 2 hurricanes. We are so grateful for her and her team and hope to work together again in the future!

Zack L.
Rating: 5 out of 5

From the first phone call I made Stinson supplied just the information I requested. And then I appreciate it, as well as I’m sure my clients did, that he came to the closing and was very professional and friendly. I enjoyed him very much as I’m sure my client did also.

Toni K. Baton Rouge, LA

What Sets Us Apart

A Lender Who Cares

With GMFS Mortgage, you’re not just getting a loan—you’re getting a team that’s all in, every step of the way.

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Established

Since 1999, we’ve helped over 150,000 people across 23 states become homeowners.

Efficient

Everything from processing to closing happens under one roof. That means fewer hiccups…and more high-fives.

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Experienced

Our team averages 14+ years in the industry—and a lifetime of showing up for our clients.

*Not a commitment to lend.  All loans subject to credit and property approval.  The following terms are for illustrative purposes only.  Rates, payments, and loans terms vary by consumer based on their individual qualifying information.   The payment amount illustrated does not include the amounts for taxes, property insurance, or mortgage insurance. 

Purchase PriceLoan AmountInterest RateAPRTerm
$239,000$227,0506.5%6.725%30