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Conventional Home Loans Your Way

With favorable rates and a competitive housing market, Mutual of Omaha Mortgage is eager to help you find the conventional loan package to secure your dream home. Our fixed-rate and adjustable rate plans have varying value to everyone. This flexibility offers Mutual of Omaha Mortgage the chance to build the best conventional rate package for your budget.

Fixed-rate Mortgages

If you plan to live in your property for more than 10 years, and you want stability on your mortgage payments, then a fixed-rate mortgage may be right for you. With a fixed-rate mortgage, your home loan interest rate will be locked-in for the life of the loan. This conventional loan package is geared heavily to home owners looking to commit to a single property for the long haul, and prefer interest rate consistency over playing the market odds.

Call 1-800-24-RATES to speak to a Conventional Loan Specialist at Mutual of Omaha Mortgage Today

Conventional Loan VS Jumbo Loan

Conventional loans, unlike jumbo loans, do not adhere to the strict income, credit and employment qualifications of the jumbo program. Buyers with good-to-excellent credit, a strong and steady flow of monthly income and reliable employment can qualify for a conventional loan. As conventional loans are inherently less-risky than jumbo mortgages, buyers are not saddled with higher interest rates and monthly payments.

Adjustable-Rate Conventional Loan Packages

The ARM is a conventional home loan program in which the interest rate is fixed for a specified period of time. Starting at 5, 7, or 10 years, the initial fixed rate period will expire on these conventional packages. After that fixed rate expiration date, the rate will adjust according to market conditions.

This is favorable to home owners who plan on interest rates decreasing after the fixed-duration of the loan. This would automatically lower their monthly payments without the need to refinance.

On the flip side, however, the market conditions could increase your interest rate and force your mortgage payments to increase.

The general benefit to ARMs is a lower initial payment plan. Find out more information from our ARM – CHARM Booklet.

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