- Home Loan Options
- 30-Year Fixed Mortgage
30-Year Fixed Rate Mortgage
Lock in your interest rate to ensure a predictable monthly payment.
30-Year Fixed Mortgage Rates
Legal Disclosures*
Rates shown reflect current products available with Rocket Mortgage, a provider on our network.
30-year Fixed-Rate Loan: An interest rate of 6.875% (7.154% APR) is for the cost of 1.75 point(s) ($6,125.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,299.26. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.
30-year Fixed-Rate VA Loan: An interest rate of 5.99% (6.384% APR) is for a cost of 1.875 Point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,096.18. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.
VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.
30-year FHA Fixed-Rate Loan: An interest rate of 5.99% (6.831% APR) is for the cost of 1.875 Point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,241.20. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.
Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.
Assumptions
- Mortgage rates could change daily.
- Actual payments will vary based on your individual situation and current rates.
- Some products may not be available in all states.
- Some jumbo products may not be available to first time home buyers.
- Lending services may not be available in all areas.
- Some restrictions may apply.
- Based on the purchase/refinance of a primary residence with no cash out at closing.
- Refinancing may cause finance charges to be higher over the life of the loan.
- We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 720, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance.
- The lock period for your rate is 45 days.
- If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of Military/VA loans. Military/VA loans do not require PMI.
- Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Rocket Mortgage offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call to talk to one of our mortgage experts.
- One point is equal to one percent of the loan amount.
Mortgage Rates Trends
This graph shows how weekly average mortgage rates have changed over the years.
What To Know About 30-Year Fixed-Rate Mortgages
Who Are 30-Year Fixed-Rate Loans Best For?
A 30-year fixed-rate mortgage might be the right option for you if you want:
- Lower monthly payments
- Predictable payment amounts
- To stay in your home for a long time
How Do 30-Year Fixed-Rate Loans Work?
- You pay off your loan over 30 years.
- Your interest rate remains the same.
- If you want to pay off your mortgage sooner, you can make extra payments or refinance.
How Do I Qualify For A 30-Year Fixed-Rate Loan?
- Minimum 3% down payment
- Minimum credit score of 580 to 620, depending on the loan type
- Debt-to-income ratio no higher than 50%
- Pay closing costs, which typically total 2% to 5% of the purchase price
Compare Mortgage Offers From Verified Lenders
Sponsored Results |
30-Year Fixed-Rate Loan Benefits
- Monthly payments are lower compared to a 15-year fixed-rate mortgage.
- You have more time to pay off your loan.
- Your interest rate doesn’t change.
- You could buy a home with as little as 3% down.
- You don’t have to pay for PMI with a down payment of at least 20%.
Mortgage Insurance Requirements
There are some cases where you’ll have to purchase mortgage insurance, which protects the lender if you can’t repay your loan:
- You take out a conventional loan with a down payment of less than 20%.
- You take out an FHA loan.
- You take out a USDA loan.
Effective Nov. 16, 2025, both Fannie Mae and Freddie Mac no longer require a specific minimum credit score for conventional loan approval. Instead, loan decisions will be based on an analysis of overall credit risk factors.
Frequently Asked Questions
Here are answers to common questions about 30-year fixed-rate mortgages.
Ready To Buy A Home
Connect with a lender that will work with your unique financial situation, or use our calculators to estimate how much home you could afford.
