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Conventional Home Loans

For borrowers who have it all together!


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Conventional home loans are great choices for homebuyers with good or excellent credit. They offer great mortgage rates and savings options, but starting in 2024 the home loan amount will generally be limited to $766,550 for a single-family home, although amounts may be higher in regions where home prices are higher.

Conventional mortgages offer both fixed and adjustable-rate options. An adjustable-rate mortgage has an interest rate that is fixed for a certain number of years, then adjusts to the current market. Conventional loans are available with down payment requirements as low as 3.00%. But mortgage insurance is not required for loans with a down payment of 20% or higher.


With Academy Bank's expert team of home loan advisors, we can help you through the entire process. We'll keep it simple, so you can focus on what's important.

Find a Loan Advisor or call 1-855-376-3168
Already applied? You're done with the hard part! Just log in here and upload documents and see the status of your application easily. No guesswork required. 

Features

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Dedicated loan advisor to help you every step of the way

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Mortgage Service Guarantee —we'll close your loan on time or pay you $1,000
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Fixed and adjustable interest rates available. Learn about the differences here
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Competitive rates and flexible terms

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Cash out options available

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Choose to purchase or refinance
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Options available to tailor your mortgage to your specific situation

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What You Need to Know about Conventional Home Loans


There are two kinds of conventional loans. One is a fixed rate mortgage and the other is an adjustable-rate mortgage. Both can be great mortgage options depending on your financial situation. 

Fixed Rate Mortgage
A fixed rate mortgage is best if you’re planning on owning your home for at least seven years. The total amount of your principal plus interest will not increase as long as you have the loan.

Here are some additional benefits of a Fixed Rate Mortgage with Academy Bank:

  • Rate protection - your rate stays the same even if mortgage rates go up.
  • Payment stability - you will always know what your monthly payment will be.
  • Budgeting no-brainer - your payment doesn't change over time because of rate changes.
  • Earlier pay off - even with a fixed rate, you can make extra payments to pay off your loan sooner.

Adjustable-Rate Mortgage
An adjustable-rate mortgage is a loan with an interest rate that may fluctuate over time but only after an initial "fixed" period (typically five or seven years).

Here are some additional benefits of an Adjustable-Rate Mortgage with Academy Bank:

  • Lower rates - take advantage of lower interest rates during the fixed period.
  • Lower payments - when your interest rate is low, your payments will be lower too!
  • Rate caps keep you in control by determining how high your rate can increase.


We’ll help you through the entire process.

To continue a saved application or view your loan disclosures, log in here.
 
Don't see what you're looking for, check out our Compare Mortgage Loans page for more options.




































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Subject to credit approval. Fees apply.