Primary Residential Mortgage
Call TODAY to speak with a Mortgage Loan Specialist (501) 951-0306

Check 30 Year Mortgage Rates GET TODAY'S RATES

For what type of property are you borrowing?

What is the ZIP Code of the Property?
What is the approximate loan amount?
What is your approximate credit score?
What is your name?
What is your phone number?
What is your email?
By clicking submit you are agreeing to our privacy policy and are opting in top receive text messages and or calls per our contact policy. Notwithstanding any current or prior election to opt in or opt out of receiving telemarketing calls or text messages from our agents or representatives calling on our behalf, you expressly consent to be contacted for any purposes relating to your loan at any telephone number, or physical or electronic address you have provided. By submitting your information, you agree we may contact you in any way, including SMS messages, calls using prerecorded messages or artificial voice, and calls and messages delivered using an auto dialing system or an automatic texting system. You may contact or to opt out at any time. You may also contact us by phone 1-800-255-2792 ext. 1000025
30 year mortgage rates
★ Your information is secure and never shared. Read the privacy policy.

30 Year Mortgage Rates

The 30 year mortgage rate continues to be at historic lows. The benefit of getting a lower rate is that borrowers can afford more home. Over the last many years, rates have remained low which has allowed home buyers to increase the average size of the house they buy. Starter homes or first time home buyer homes have seen one of the most significant increases in average purchase price because of the low interest rate environment. Additionally, low interest rates often allow homeowners to pay their mortgage off faster. It’s not uncommon for a homeowner to pay extra each month because the low rate will enable them to budget to do so.

Check Rates

30 Year Mortgage Rate
30 Year Mortgage Vs. 15 Year Mortgage

30 Year Mortgage Vs. 15 Year Mortgage

Borrowers often choose the amortization of a loan based on their household plan. The 30 year loan stretches the payments out longer, thus allowing the borrower to have a lower payment. Typically this is done to either allow someone to afford more home or allow them to free up money to go to other debts. Since the time frame is longer, the borrower will pay more in interest over the life of the loan. According to Freddie Mac the majority or borrowers choose the 30 year mortgage over other mortgage products. The 15 year mortgage is a shorter amortization and typically has a little bit lower interest rate. A person will pay much less in interest over the life of the loan on the 15 year mortgage versus the 30 year mortgage, but their payment will be significantly higher due to the shorter term.

Get Rates

30 Year Fixed Rate Variables

People often think that when they get a 30 year mortgage, they will be required to put 20% down. While this may be optimal, it is not required. Borrowers can get 30 year loans with little to no money down depending on the loan product. With that said, anytime a borrower does not put 20% down, it is considered riskier for the lender so some form of mortgage insurance is usually required. With conventional loans, mortgage insurance is paid to private companies; however with the government-backed loans, it is paid to the government agency which backs the loan.

Today's Rates

30 Year Fixed Rate Variables
Refinance Vs. Purchase

Refinance Vs. Purchase

Borrowers can choose to refinance or purchase with a 30 year mortgage. For a home purchase, the required down payment is determined by the particular by the loan product. If it is a government-backed loan such as FHA, 3.5% down payment will be needed and for the USDA loan does not require a down payment. Most conventional loans require a min of 5% down. If a borrower is refinancing a home, the loan amount is determined by the appraised value.

Get More Information

USDA Home Mortgages

PRMI Contact Information and Policy Links

Primary Residential Mortgage, Inc.
10121 N Rodney Parham, Suites C & D
Little Rock, AR 72227
NMLS # 3094
Branch NMLS # 252910
Licensed by Arkansas Securities Department 11558
PRMI Privacy Policy
PRMI Terms of Use
PRMI Consumer Voice
PRMI Licenses

Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.