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.
30-Year Mortgage Rates
Get in the Game!
Beat Other Homebuyers Stuck on the Sidelines
Apply now as mortgage rates fall! We’re here to help you meet your homeownership goals—like buying your first or next home, or lowering your current interest rate and payments or accessing cash by refinancing. We also prioritize speed for our clients, with an average turnaround of only 24 days from application completed to ready to close for purchase loans in 2024!1
Current 30-Year Home Loan Rates
Questions? Contact us and we’ll be happy to help answer them!
-
Conforming 5/5 ARM
- Rate 5.500%
- APR 5.772%
-
Jumbo 5/5 ARM
- Rate 5.750%
- APR 5.998%
-
Conforming 30 Year Fixed
- Rate 6.875%
- APR 6.910%
-
Jumbo 30 Year Fixed
- Rate 7.250%
- APR 7.267%
-
FHA 30 Year Fixed
- Rate 6.750%
- APR 7.326%
-
VA 30 Year Fixed
- Rate 7.250%
- APR 7.422%
-
USDA 30 Year Fixed
- Rate 6.250%
- APR 6.743%
-
Conforming 5/5 ARM Doctor Loan
- Rate 6.000%
- APR 6.270%
-
Conforming 30 Year Fixed Purchase Doctor Loan
- Rate 7.375%
- APR 7.421%
Everyone Deserves a Home
According to the National Alliance to End Homelessness, over 7,600 Nevadans experience homelessness on any given night. GNM’s Keys to Greater program donates a portion of the revenue from every new mortgage or refinance to community nonprofit organizations that address homelessness, and since launching in 2021, over $200,000 has been donated!
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 loansLearn 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
Calculate What You Can Afford
See how much you can afford to borrow on your home purchase with our mortgage calculator.
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.
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.
1Average purchase loan turnaround time is based on application completion to final approval, with all required conditions and guidelines being met awaiting the Close of Escrow date, between January 1, 2024, to July 31, 2024. This is not a guaranteed timeframe for all loan applications. Each loan transaction is different, and individual turnaround times will vary.