30 year mortgage rates

30-Year Mortgage Rates

The benefits of a 30-year mortgage include lower monthly payments and a longer time frame to pay off your loan. See up-to-date 30-year mortgage rate information and learn more about general mortgage rates below. 

Competitive Mortgage Rates

Greater Nevada Mortgage offers competitive mortgage rates to homebuyers and current homeowners looking to refinance throughout Nevada and California.

Common Questions About 30-Year Mortgage Rates

In this section, we’ll explain the ins and outs of a 30-year mortgage so you can decide whether this type of loan is right for you as you purchase your next home or refinance your existing loan.

  • What is a 30-year mortgage?

    A 30-year mortgage is exactly what it sounds like: a loan for the purchase of a home with a term of 30 years (or 360 monthly payments). Many people choose this type of loan because of its length and the smaller monthly payments that come with it as opposed to those with a shorter term, such as a 15-year mortgage.

  • Who is a 30-year mortgage best for?

    For those who plan to stay in their homes for many years and who seek lower monthly payments spread out over a longer period of time, a 30-year mortgage is generally the best solution. Note that because it has a longer lifetime than a 15-year loan, a 30-year mortgage requires the payment of more interest over time, adding to the overall amount paid on the loan.

  • Are 30-year mortgage rates lower than 15-year mortgage rates?

    30-year mortgage rates can be higher than the ones found for 15-year loans. This is because the length of the loan is twice as long, but the tradeoff for many is that the monthly payments are generally lower. Learn more about 15-year mortgage rates

  • What are the different types of mortgage loans with a 30-year term option?

    Greater Nevada Mortgage currently offers a 30-year term option for the following loans:

    Fixed Rate loans
    Adjustable Rate (ARM) loans
    FHA loans
    VA loans
    USDA loans
    Jumbo loans

    Learn more about types of home loans from the pros at Greater Nevada Mortgage. 

Pros and Cons of 30-Year Mortgages

  • Lower monthly payments when compared with a 15-year term
  • Typically you can afford more house, thanks to the longer loan period
  • Allows you to put more money into savings
  • Can be paid off at any time without prepayment penalties
  • Buyers ultimately pay more in interest due to the length of the loan 
  • Slower equity building 
  • Making monthly payments over a long period of time 
  • Usually a higher interest rate than a 15-year mortgage

Next Steps to Lock in Your Rate

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Calculate What You Can Afford

See how much you can afford to borrow on your home purchase with our Mortgage Calculator.

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Submit Your Application

It’s quick. It’s easy. It’s online. Plus, we have a Mortgage Documents Checklist so you know what information to gather.

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Let’s Chat

All your home loan questions are answered by your dedicated mortgage consultant and their team as you learn about what options work best for your goals.

APR = Annual Percentage Rate. APR is the cost to borrow money expressed as a yearly percentage. For mortgage loans, excluding home equity lines of credit, it includes the interest rate plus other charges or fees.

Rates and terms are subject to change without notice. Rates are for illustrative purposes only, and assumes a borrower with a credit score of 700 or higher which may be higher or lower than your individual credit score. Adjustable Rate Mortgage (ARM) loans are subject to interest rate, APR, and payment increase after each change period. For instance, a 5/5 ARM means that you will pay a fixed rate for the first five years of the loan, and then your rate is subject to change once every five years thereafter through the remainder of the loan. Interest rates and APRs are based on current market rates, and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Depending on loan guidelines, mortgage insurance may be required. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit history up to the time of closing. The estimated total closing costs in these rate scenarios are not a substitute for a Loan Estimate, which includes an estimate of closing costs, which you will receive once you apply for a loan. Actual fees, costs and monthly payment on your specific loan transaction may vary, and may include city, county or other additional fees and costs. Not all loan options are available in every state. Borrower is responsible for any property taxes as a condition of the loan. Membership with Greater Nevada Credit Union is required for select loan options. This is not a credit decision or a commitment to lend.

Please contact a mortgage consultant to learn about all details on loan options and programs available. You may contact one directly, or call Greater Nevada Mortgage at 775-888-6999 or 800-526-6999. We do business in accordance with the Federal Fair Housing Law and the Equal Opportunity Act, and the California Fair Employment and Housing Act.