Check out current rates for a 30-year conventional fixed-rate loan.

These rates and APRs are current as of $date and may change at any time. They assume you have a FICO® Score of 740+ and a down payment of at least 25%, that the loan is for a single-family home as your primary residence and that you will purchase up to one mortgage point.

Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. Connect with a mortgage loan officer to learn more about mortgage points.

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Fixed-rate mortgage calculator

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A 30-year fixed-rate mortgage is the most common mortgage loan option. It has a repayment period of 30 years and the interest rate doesn’t change throughout the life of the loan.

Here are the main advantages of a 30-year fixed mortgage. Contact one of our experienced U.S. Bank mortgage loan officers to learn more.

  • Predictability: You’ll be able to lock the interest rate on your mortgage for the entire 30-year term so you know what to expect, unlike an adjustable-rate mortgage (ARM) that has a variable interest rate.
  • Smaller monthly payments: You're able to spread the repayment of your loan over a longer period of time so your monthly payment is smaller.
  • Qualify for a larger mortgage: With a 30-year fixed, your monthly payment is a smaller percent of your total monthly income. With a lower ratio, you may qualify for a larger mortgage.
  • Flexibility: A smaller monthly payment gives you more flexibility to decide what to do with your money. Plus, you can make a larger payment any time without incurring penalties.

A fixed-rate mortgage with a 30-year term may be a good option for you if you:

  • Want to keep your monthly payment low without giving up the stability of a fixed rate
  • Want to get approval for a larger loan
  • Plan to stay in your home for the long-term

U.S. Bank offers a variety of loan terms and options. Our mortgage loan officers are dedicated to helping you understand and choose the option that’s best for you.

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Disclosures

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.

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  1. Conforming fixed-rate loans: The annual percentage rate (APR) calculation assumes a $464,000 fixed-term loan with a 25% down payment and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Conforming rates are for loan amounts not exceeding $726,200 ($1,089,300 in Alaska and Hawaii).

  2. Annual percentage rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. The APR may be increased after the closing date for adjustable-rate mortgage (ARM) loans.

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The rates shown above are the current rates for the purchase of a single-family primary residence based on a 45-day lock period. These rates are not guaranteed and are subject to change. This is not a credit decision or a commitment to lend. Your final rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors.

To lock a rate, you must submit an application to U.S. Bank and receive confirmation from a mortgage loan officer that your rate is locked. An application can be made by calling 888-291-2334, by starting it online or by meeting with a mortgage loan officer.

Minnesota properties: To guarantee a rate, you must receive written confirmation as required by Minnesota Statute 47.206. This statement of current loan terms and conditions is not an offer to enter into an interest rate or discount point agreement. Any such offer may be made only pursuant to subdivisions 3 and 4 of Minnesota Statutes Section 47.206. 

Calculators are provided by Leadfusion. This calculator is being provided for educational purposes only. The results are estimates that are based on information you provided and may not reflect U.S. Bank product terms. The information cannot be used by U.S. Bank to determine a customer's eligibility for a specific product or service. All financial calculators are provided by the third-party Leadfusion and are not associated, controlled by or under the control of U.S. Bank, its affiliates or subsidiaries. U.S. Bank is not responsible for the content, results, or the accuracy of information.