30 year conventional loan?

Quick: Long-term fixed mortgage. Low payments, high total cost. Done.

Financial planner here: 30-year conventional shines for affordability—spreads cost, frees cash for investments. But opportunity cost: More interest vs. shorter terms. Calc: At 6%, $300k loan = $1,128/mo, $406k interest total. Tied to 10-yr Treasury. 2025 trends: Rates may dip post-Fed cuts. Vs. jumbo: For bigger loans. Pro tip: Lock now if buying. Freddie Mac: Rates

Hey folks, diving into mortgages— a 30-year conventional loan is your classic fixed-rate home loan, not backed by gov't like FHA/VA. Amortizes over 360 months, lower monthly payments (e.g., $1,726 on $300k at 5.625% APR), but more interest long-term. Needs 20% down for no PMI, credit 620+. Pros: Stability, predictability. Cons: Slower equity build. Vs. 15-year: Higher payments but less interest. Current rates ~6.72% avg. Shop around—Bankrate compares 'em. Great for first-timers!

As a real estate vet, let's unpack the 30-year conventional: Private lender loan, conforming to Fannie/Freddie limits ($766k most areas 2025). Fixed rate locks payments—key in volatile economy. Example: $400k home, 20% down ($80k), 6.75% rate: ~$1,945/mo principal/interest. Total interest? $399k over life. Refi option if rates drop. Eligibility: Steady income, DTI <43%. Beats ARMs for peace. Bankrate: 30-Year Rates

Buyer beware: 30-year conventional means 30 yrs commitment, but prepay penalty-free. Great for families—e.g., Navy Fed: 5.625% on $300k = $1,726/mo. Add taxes/ins: ~$2,500/mo real. Vs. 15-yr: Saves $200k interest but $800/mo more. Credit matters—higher score = better rate.

Economic angle: These loans fuel housing market—$ trillions originated yearly. 30-year dominates 90% fixed. Current: 6.72%, up from 2021 lows. Impacts: Builds wealth slowly. SmartAsset: 30-Yr Rates