Phone: 800-888-7283

Fixed Rate Conventional Mortgage Loans

You have a lot to consider when searching for the perfect home. We work hard to make the financing process easy, so you can concentrate on floor plans and fixtures.

The most common and popular type of mortgage loan, the Conventional Fixed Rate loan, features lower fees, and more flexibility. Fixed rate loans provide borrowers with the peace of mind that their principal and interest payments are 'fixed' for the entire term of the loan. At Home Federal, we don't charge a pre-payment penalty, so you're free to make additional payments to shorten your term and save on finance charges.

Summary

Interest rate will not increase over time
Available with as little as 5% down*
First-time home buyers specials available
Conventional loans typically have fewer fees
Quick decision-making
Local service throughout life of loan
No pre-payment penalty
Jumbo loans available

*Private mortgage insurance (PMI) is required for loans more than 80% of the appraised property value.

Why choose a fixed rate?

Your interest rate will never increase
Little or no change in monthly payments
Conventional loans typically have fewer fees
Home Federal Bank will not charge pre-payment penalty
Option to pay "points," an upfront investment that reduces interest rate, and resulting monthly payment

Jumbo Loans

Home Federal Bank also provides jumbo mortgages for loan amounts that exceed the maximum loan limit set my Fannie Mae and Freddie Mac. Jumbo loans usually have a slightly higher interest rate, may require a higher down payment, and a have a lower maximum loan-to-value requirement.