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Conventional Loan

Get the home you want, from a mortgage lender you can trust

Ready for your dream home? The team of experienced Loan Officers at Armed Forces Bank can help any customer - whether you are a veteran or not. Talk to an Armed Forces Bank Loan Officer today to explore your options. We offer flexible options and competitive rates to get you into your new home quickly.

At Armed Forces Bank we understand home loans. Whether you’re thinking about buying or refinancing a home, and your credit is in good standing, we can help. Our Conventional Mortgage Loan comes with competitive rates and offers additional benefits to government loans, including low down payments. Loans with down payments 20% or greater require no private mortgage insurance (PMI). Fixed and adjustable rates available. Our dedicated loan advisors will guide you every step of the way, and we’ll guarantee closing your loan on time or pay you $1,000.
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Conventional Loan Features

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What You Need to Know about Conventional Home Loans

There are two kinds of conventional loans. One is a fixed-rate mortgage and the other is an adjustable-rate mortgage.

Fixed-Rate Mortgage

A fixed-rate mortgage is best if you’re planning on owning your home for at least seven years. The total amount of your principal plus interest will not increase as long as you have the loan.

Here are some additional benefits of a Fixed-Rate Mortgage with Armed Forces Bank:

  • Rate protection - your rate stays the same even if mortgage rates go up.
  • Payment stability - you will always know what your monthly payment will be.
  • Budgeting ease - budgeting your mortgage expense is easier because your payment does not fluctuate.
  • Earlier pay off - even with a fixed rate, you can make extra payments to pay off your loan sooner.

Adjustable-Rate Mortgage

An adjustable-rate mortgage is a loan with an interest rate that may fluctuate over time but only after an initial "fixed" period (typically five or seven years).

Here are some additional benefits of an Adjustable-Rate Mortgage with Armed Forces Bank:

  • Lower rates - during the fixed period, the interest rate is often lower than for other loans.
  • Lower payments - when your interest rate is low, your payments will be lower too.
  • Lower cost - if you are planning to own your home for only 5 to 7 years, this option keeps your payment lower for the initial term of the loan.
  • Rate caps - control how much your rate can increase.

We'll help you through the entire process.

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Subject to credit approval. Fees apply.