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Conventional Mortgage Loans

Find the right mortgage loan to match the perfect house.

A conventional mortgage is the most popular mortgage program with a variety of loan options and terms. Magnifi Financial offers terms that are right for you and your lifestyle, including 15-year and 30-year fixed-rate mortgage loans. Your local Magnifi Financial mortgage lender can help you determine if a conventional loan is the right option for you.

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Looking at a new house with realtor

Down Payment

Typically, a 20% down payment is preferred for a conventional mortgage loan. The more money you're able to put down, the less you'll need to pay back with interest.

Credit Score

Magnifi Financial helps work with all credit scores to find the right mortgage loan. When it comes to conventional loans, borrowers generally need to have a minimum credit score of 620.

Debt-to-Income Ratio

We calculate your debt-to-income ratio to ensure we follow ATR (ability to repay) guidelines. Each borrower may have different terms depending on his/her financial situation.

Mortgage Loan Calculator

Estimate monthly payments and total interest paid on any fixed-rate mortgage loan.

Loan Amount
Annual Interest Rate
Loan Term
Annual Property Taxes
Annual Homeowners Insurance
Monthly Private Mortgage Insurance
Monthly Principal and Interest Payment
Monthly Tax, Insurance and PMI payment
Total Monthly Payment

*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.

Calculating mortgage payment


Apply for a mortgage loan today!

We’re ready to help finance your perfect home with your perfect mortgage.

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Mortgage Programs

Check out some of the mortgage loan options available with Magnifi Financial:

BUYING A HOME HUB

Go to the mortgage homepage to learn more about the process..

ADJUSTABLE-RATE
MORTGAGE (ARM)

Mortgage Loans with variable interest rates which may fluctuate payments.

FIRST-TIME
HOMEBUYERS

Learn more about purchasing your first home and your options available.

RURAL DEVELOPMENT

A program for low and moderate income families living in rural areas.

VETERANS AFFAIRS (VA)

A VA loan helps provide home financing for eligible Service members, Veterans, and surviving spouses.

FHA
LOANS

Funds are available from the Federal Housing Administration to low-moderate income families.

HOMEREADY BY
FANNIE MAE

A program for credit-worthy low-to-moderate income borrowers or homes in low-income communities.

LAND LOANS

Loans are available for the purchase of property such as for hunting or investment.

Please note, while you are undergoing the mortgage loan process, it is best that you check with your mortgage lender before opening any other loans at the same time.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.

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Join the Magnifi Family!

At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.

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