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Stability for Your Budget

A fixed-rate mortgage has an interest rate that remains the same for the life of the loan. This is a great choice for buyers who want a stable monthly mortgage payment for the long term. Our Conventional Fixed-rate Mortgage rates are among the lowest interest rates we offer.

Loan Features

  • Minimum 5% Down Payment

    Lots of loans require up to a 20% down payment. These loans only require 5% down so you can buy your home sooner.

  • Fixed Rates & Consistent Payments

    With a fixed interest rate, your monthly payment to principal and interest will remain the same for the life of your loan.

  • No Private Mortgage Insurance Required

    Most lenders require the borrower to purchase PMI unless they can make a down payment of 20%.

  • Refinance Options Available

    If you already have a mortgage and want to refinance for a different interest rate or shorter term, this loan may also be a good fit.


Payment Examples2

Term Interest Rates As Low As Discount Points APR As Low As
15 Year 4.625% 0.250 4.814%
15 Year Jumbo 4.875% 0.250 5.066%
30 Year 5.250% 0.750 5.408%
30 Year Jumbo 5.250% 0.750 5.408%

Rates as of Feb 01, 2023 ET.

Discount Points: The interest rate above shows the option of purchasing discount points to lower a loan’s interest rate and monthly payment. One point amounts to 1% of the loan amount and is paid at closing. Points don’t always have to be round numbers. Purchasing 1.5 points would cost $4,500 on a $300,000 mortgage.

Rates displayed are the "as low as" rates for purchase loans and refinances.

Jumbo Loans: Loans over a certain amount are called jumbo loans. In most states, mortgage loans greater than $726,200 are jumbo loans. In AK and HI, any loan over $1,089,300 is considered a jumbo loan.

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Why Choose Navy Federal?

Great loans. Expert guidance. Best-in-class loan service. As a Navy Federal member, you get access to additional benefits to help save you time and money. Get your loan, real estate agent, title services and loan servicing all through us.

Learn More about mortgages with Navy Federal

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Find a Real Estate Agent

Finding the right home starts with finding the right real estate agent. Use RealtyPlus® to connect with a top-performing real estate agent in your area. Plus, you can earn cash back. Exclusively for Navy Federal members.3

Learn More about RealtyPlus.

Mortgage Learning Center

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Homeowner Resources

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Conventional Fixed-rate FAQs

A mortgage rate is the interest rate you're charged on the loan you borrowed to fund the purchase of a home. Mortgage rates can be fixed or variable. Navy Federal uses many factors to determine your mortgage interest rate, including, but not limited to, the following:

  • Credit score
  • Debt-to-income ratio
  • Type of loan you're applying for
  • Loan amount
  • Loan term
  • Property location
  • Property type
  • U.S. economic market conditions

Ultimately, your mortgage rate depends on your own financial wellness and the broader conditions of the economy. 

There’s a common misconception that mortgage rates rise and fall with the Federal Reserve funds rate. Actually, the most common mortgage—the 30-year, fixed-rate mortgage—is more closely tied to the 10-year Treasury yield. That's the yield that reflects how investors feel about the economy. The federal funds rate is just a minor component of that yield. 

In the case of mortgage loans, an interest rate is the cost you pay annually to borrow money, expressed as a percent rate. It does not reflect fees or any other charges you may have to pay for the loan. In contrast, APR (annual percentage rate) includes the interest rate plus all lender charges paid upfront for the loan, such as discount points and mortgage lender fees.



These rate offers are effective 02/01/2023 and subject to change. Rates displayed are the "as low as" rates for purchase loans and refinances. Rates are based on creditworthiness, loan-to-value (LTV), occupancy and loan purpose, so your rate and terms may differ. All loans subject to credit approval. Rates quoted require a loan origination fee of 1.00%, which may be waived for a 0.25% increase in the interest rate. Many of these programs carry discount points, which may impact your rate.


A fixed-rate loan of $300,000 for 15 years at 4.625% interest and 4.814% APR will have a monthly payment of $2,314.
A fixed-rate loan of $300,000 for 30 years at 5.250% interest and 5.408% APR will have a monthly payment of $1,656.
Taxes and insurance not included; therefore, the actual payment obligation will be greater. All loans subject to credit approval.
Jumbo Loans: Loan amounts greater than $726,200. In AK and HI, the Conforming loan limit is $1,089,300. The Jumbo rates quoted above are for loan amounts above $726,200 up to $2,000,000.


The cash-back bonus is offered in most states and is available for individual sales and purchases of property; offer limited to one cash-back bonus per property with no limit on the amount of times you may use the program. In some states, a gift card or commission credit at closing may be provided in lieu of the cash-back bonus. The program is not available in IA or outside the U.S. Cash-back bonus is not available in AK or OK. In KS and TN, a gift card with preloaded points that are ready for spending at specified retail establishments after closing will be issued. State regulations in KS limit the dollar amounts and the type of incentive. In MS, NJ, and OR, a commission reduction may be available at closing. Please check with the program coordinator for details. This is not a solicitation if you are already represented by a real estate broker. The cash-back bonus is only available with the purchase or sale of your home through the use of a program-referred and -approved real estate agent. The size of your cash-back award depends on the value of the property you are buying or selling. Obtaining the full $9,000 cash-back award requires transacting in a property valued at $3 million or greater. To calculate the size of your potential cash back, please visit the RealtyPlus website: All real estate transactions are negotiable. Contact RealtyPlus for terms and conditions. Standard listing fees apply. The program award is not available in certain transactions with restricted agent commissions (including many new construction, For Sale by Owner, or For Sale by iBuyer transactions). Your assigned agent can help you identify any transactions where the award would not be available. This program is offered, in part, by Realogy Lead Management Services, Inc. d/b/a Realogy Leads Group (RLG). RLG may receive a co-operative brokerage fee as a result of a referral to the real estate companies listed above. Program terms and conditions are subject to change at any time without notice. Additional terms, conditions, and restrictions apply.