Conventional · Fixed rate
Conventional fixed-rate loans.
30, 20, 15, 10 — or any year in between.
The standard terms, plus Flex Term: choose any whole number of years from 10 to 30. Seven years into your mortgage? Refinance into a 23-year fixed and keep your payoff date — no starting over from scratch.
The terms
Same fixed rate for the life of the loan. You pick the length.
A fixed rate never changes, so your principal and interest stay the same from the first payment to the last. The only real decision is the term — shorter means a faster payoff and less total interest, longer means a lighter monthly payment.
30
30-year fixed
The lowest required payment of the fixed terms, so it leaves the most room in the monthly budget. The trade is more total interest over the life of the loan.
20
20-year fixed
A real middle ground: a payoff a decade sooner than a 30, with a payment that is usually far easier to carry than a 15.
15
15-year fixed
The classic “pay it off” loan. Shorter terms often price at a lower rate, and the interest saved over the life of the loan is substantial.
10
10-year fixed
The fastest of the standard terms. Best for refinancing a balance that is already well paid down, or for buyers with strong cash flow.
10–30
Flex Term fixed
Any whole number of years — 12, 18, 23, 27. Built for refinancing without resetting the clock, or for hitting a payoff date you already have in mind.
Flex Term
Refinance without starting over.
Here is the problem with a standard refinance. You are seven years into a 30-year mortgage. Rates improve, or you want to drop mortgage insurance, so you refinance — into a brand-new 30-year loan. You just added seven years of payments back onto your life.
With Flex Term you refinance into a 23-year fixed instead. Your payoff date stays where it was, and every year you already paid still counts.
Buyers use it too: a 25-year fixed to be paid off before retirement, or an 18-year fixed that ends the year the kids head to college. Any whole number from 10 to 30 years, same fixed-rate certainty as the standard terms.
Standard refi
7 + 30
37 years of payments in total
Flex Term refi
7 + 23
Still 30 — same payoff date
Flex Term planner
Find the term that fits.
My current loan started as a…
Years I’ve already paid
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30
23-year fixed — Flex Term
You have 23 years left on your 30-year loan. A 23-year fixed keeps your payoff on the same track — around 2049 — instead of starting a brand-new 30.
Payoff years are approximate and assume the loan runs its full term with no extra payments.
Why conventional
The loan most buyers with good credit end up in — for good reasons.
Mortgage insurance that goes away
Conventional mortgage insurance is only charged while the loan-to-value is above 80%. You can ask to cancel it once you reach 80% of the original value, and federal law removes it automatically at 78% on schedule.
No upfront government fee
FHA charges an upfront mortgage insurance premium and VA charges a funding fee to most borrowers. Conventional has neither, so nothing extra is rolled into your balance on day one.
Primary, second home or rental
Conventional financing works for the home you live in, a vacation place in Tahoe, or a 1–4 unit investment property. FHA and VA are for a primary residence.
Higher limits than FHA
The 2026 baseline conforming limit is $832,750 for a one-unit home, and higher in high-cost counties. Above that, a jumbo loan picks up where conventional stops.
Plainly
When a different loan is the better call.
Credit still rebuilding? FHA is more forgiving. A veteran or active-duty service member? Look at VA first — no down payment required and no monthly mortgage insurance.
Buying above the conforming limit? That is a jumbo loan (check your county on the California loan limits page). Self-employed with income that does not show on your tax returns? A bank statement loan qualifies you on deposits instead.
Want to keep a great first-mortgage rate and just tap equity? A HELOC leaves your current loan alone. Every option is on the all loan products page.
Questions
Conventional and Flex Term, answered.
A conventional fixed-rate loan where you choose the term in one-year steps anywhere from 10 to 30 years, instead of being limited to 30, 20, 15 or 10. The rate is fixed for the whole term, exactly like a standard fixed loan — you just pick the length that fits.
Most often to avoid restarting the clock on a refinance. If you are seven years into a 30-year mortgage, a 23-year fixed keeps your original payoff date instead of adding seven years back. Others choose an odd term to hit a specific goal — paid off before a child starts college, or before a planned retirement date.
Not inherently. Pricing generally follows the nearest standard term bucket, and shorter terms often price better. Aaron will price the exact term you want side by side with the standard terms so you can see the difference before choosing.
Both. It is especially popular on a rate-and-term refinance, but a buyer can choose any term from 10 to 30 years on a purchase too.
No. Putting less than 20% down is common on a conventional loan — the difference is that mortgage insurance applies until the loan-to-value reaches 80%. First-time buyers often have lower-down-payment options available. Aaron will show you the exact numbers for your situation.
FHA is government-insured and is more forgiving on credit, but it charges an upfront premium and, in many cases, monthly mortgage insurance for the life of the loan. Conventional mortgage insurance can be removed once you reach 80% loan-to-value. For borrowers with solid credit, conventional usually costs less over time; for others FHA is the better door. Aaron runs both.
For 2026 the one-unit conforming limit is $832,750 in Placer, Sacramento, El Dorado and Yolo counties. Higher-cost California counties have higher limits, and FHFA announces the next year’s figures in late November. Our California loan limits page lists every county.
If you plan to keep the home and the loan for many years, a fixed rate removes the guesswork. An adjustable-rate mortgage can start lower and makes sense when you expect to sell or refinance within the fixed period. Aaron will lay both out side by side.
Cali Mortgage · Roseville, California
See your term side by side before you choose.
Aaron will price the 30, the 15 and your Flex Term together, so the payment and total-interest trade-off is on one page — then you pick.
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