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.

Rates1

Term Interest Rates As Low As Discount Points APR As Low As
15 Year 2.875% 0.750 3.129%
15 Year Jumbo 2.875% 0.750 3.129%
30 Year Jumbo 3.250% 1.375 3.442%
30 Year 3.375% 1.375 3.568%

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 $3,000 on a $200,000 mortgage.

Jumbo Loans: Loans over a certain amount are called jumbo loans. In most states, mortgage loans greater than $453,100 are jumbo loans. In AK and HI, any loan over $726,525 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.

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Find a Real Estate Agent

Use RealtyPlus® to get matched with a top-performing real estate agent in your area and earn cash back, too. Exclusive for Navy Federal members.3

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Disclosures

1 This rate offer is effective 11/12/2019 and subject to change. 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 interest rate. Many of these programs carry discount points, which may impact your rate.

2 A fixed-rate loan of $250,000 for 15 years at 2.875% interest and 3.129% APR will have a monthly payment of $1,711.
A Jumbo fixed-rate loan of $485,000 for 15 years at 2.875% interest and 3.129% APR will have a monthly payment of $3,320.
A fixed-rate loan of $250,000 for 30 years at 3.375% interest and 3.568% APR will have a monthly payment of $1,105.
A Jumbo fixed-rate loan of $485,000 for 30 years at 3.250% interest and 3.442% APR will have a monthly payment of $2,111.
Taxes and insurance not included; therefore, the actual payment obligation will be greater.
Jumbo Loans: Loan amounts greater than $484,350. In AK and HI, the Conforming loan limit is $726,525. The Jumbo rates quoted above are for loan amounts above $484,350 up to $2,000,000.

3 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, LA 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 $8,000 cash back award requires transacting in a property valued at $1.75 million or greater. To calculate the size of you potential cash back, please visit navyfederal.org/realtyplus. All real estate transactions are negotiable. Contact RealtyPlus for terms and conditions. Standard listing fees apply.