A Rate That Never Changes
The classic mortgage: lock your interest rate for the entire life of the loan, with predictable principal and interest payments you can plan your life around. Available across the South Sound.
Certainty, Built Into Your Loan
A conventional fixed-rate mortgage is the most popular home loan in America for one reason: you always know exactly what you owe.
How a Fixed-Rate Mortgage Works
Your interest rate is set at closing and never changes, so your principal and interest payment stays the same for the entire term. That predictability makes budgeting simple and protects you if market rates rise.
- Rate fixed for the life of the loan
- Principal and interest never change
- 10, 15, 20, or 30-year terms
- Available for a primary home or a second property
Who It Is Best For
A fixed-rate mortgage is ideal if you want a guaranteed rate, plan to stay in your home for the long term, or are financing a second property. It is the most popular choice for buyers who value certainty over a lower short-term rate.
- You want payment certainty
- You plan to stay long term
- You are financing a second property
- You prefer simplicity over a lower initial rate
Down Payment and PMI
You can put down as little as 3%. Private mortgage insurance (PMI) is available for qualified buyers who put down less than 20%, and it can typically be removed once you build enough equity.
- Down payment as low as 3%
- PMI available for qualified buyers
- PMI can be removed as equity grows
- Larger down payments lower your monthly cost
Shorter Term or Longer Term?
The term you choose shapes both your monthly payment and the total interest you pay. Neither is wrong. It comes down to what fits your budget and your goals.
A 15-Year Term
Higher monthly payments, but you pay off the loan faster and pay far less interest over time. A good fit if you can afford the larger payment and want to own your home outright sooner.
A 30-Year Term
Lower monthly payments that free up cash flow, but you pay more interest overall because the balance is spread across more years. A good fit if you want the most breathing room in your budget.
What Could Your Payment Look Like?
Try the numbers before you talk to anyone. These estimates are for education only - your Home Loan Consultant will walk you through the real thing.
Fixed-Rate Mortgage Calculator
Estimate a monthly payment on a conventional fixed-rate mortgage, including taxes and insurance.
VA Loan Calculator
Estimate a VA loan payment with zero down, including the VA funding fee financed into the loan.
These calculators are for education and illustration only. They are not a loan application, rate quote, offer, or commitment to lend, and results are estimates that exclude PMI where applicable. The fixed-rate calculator estimates an initial fixed payment only; it does not show how an adjustable-rate (ARM) payment can change or include FHA mortgage insurance premiums. Interest rates shown are editable examples, not ACU rates - see current rates and fees or talk with a Home Loan Consultant. VA funding fee percentages follow the published VA schedule (first use with less than 5 percent down: 2.15 percent; subsequent use: 3.3 percent; 1.5 percent with 5 to 9.99 percent down and 1.25 percent with 10 percent or more down); verify your fee and exemption status at va.gov. All loans subject to credit approval. NMLS #449181. Equal Housing Lender.
Built for Buyers Who Want to Know What Comes Next
A conventional fixed-rate mortgage pairs the most predictable loan structure with a dedicated team that answers the phone.
Rate Locked for Life
Your interest rate is set at closing and never moves, even if market rates climb.
Predictable Payments
Your principal and interest stay the same every month, so budgeting is simple.
3% Down Option
Put down as little as 3% and keep more cash on hand for your move.
Multiple Term Choices
Choose a 10, 15, 20, or 30-year term to match your budget and your goals.
Primary or Second Home
Finance the home you live in or a second property with the same fixed certainty.
Local Decision-Making
Your loan is handled by a Pacific Northwest team that knows the local market.
Three Steps to a Fixed Rate
From your first estimate to closing day, a dedicated team guides you the whole way.
Run Your Numbers
Use the calculator to compare terms and down payments.
Get Pre-Qualified
Apply online or call a dedicated loan officer.
Lock Your Rate and Close
Lock your fixed rate and your team guides you to closing.
“ACU made our home buying process smooth and stress-free. Their mortgage team went above and beyond, and we closed on time with zero surprises.”
What It Takes to Qualify
Conventional loans reward preparation. Here are the guidelines most lenders, including ACU, look at first.
Minimum Down Payment
Qualified first-time buyers can put as little as 3% down; 5% is typical for repeat buyers.
Credit Score Guideline
A common benchmark for conventional financing. Stronger scores earn better pricing.
Debt-to-Income Ceiling
Most conventional programs allow total debts up to about 45% of gross income.
Equity to Remove PMI
Put down less than 20% and PMI applies, but it can be removed once you reach 20% equity.
| Conventional | FHA | VA | |
|---|---|---|---|
| Minimum down payment | As low as 3% | 3.5% (580+ score) | $0 with full entitlement |
| Credit score guideline | About 620 | 580 (500 with 10% down) | No set minimum; often about 620 |
| Mortgage insurance | PMI, removable at 20% equity | MIP, often for the life of the loan | None (one-time funding fee) |
| 2026 loan limit | $832,750 conforming, higher in high-cost areas | $541,287 to $1,249,125 | None with full entitlement |
| Best for | Strong credit and flexible down payments | Lower scores or smaller savings | Eligible service members and veterans |
Figures shown are common industry guidelines and 2026 program limits, provided for education. Guidelines vary by program and change over time. Your ACU Home Loan Consultant will confirm exactly what applies to your loan.
Fixed-Rate Mortgage FAQ
Answers to the questions members ask most about conventional fixed-rate mortgages. As of March 2025, credit unions averaged 6.68% versus 6.81% at banks on 30-year fixed mortgages, and 6.16% versus 6.39% on 15-year, according to NCUA rate data.
Disclosures
All loans subject to credit approval. Rates and terms subject to change without notice and vary by creditworthiness, term, down payment, and property. PMI may be required for down payments under 20%. Property insurance required. Calculator results are educational estimates, not a rate quote or commitment to lend. Membership required. America's Credit Union is a federally chartered credit union insured by the NCUA. NMLS #449181. Equal Housing Lender.
Lock In Certainty for the Long Haul
Compare your terms with the calculator, then get pre-qualified with a dedicated loan officer.