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Fixed Conventional Loans

Whether you're buying a new home or refinancing your current one, we offer tailored loan solutions to meet your needs.

view fixed conventional loan rates & terms

No Origination Fees, No Lender Fees.

At Eglin FCU, our Fixed Conventional Loans offer more than just competitive rates and exceptional service. While we do charge standard closing costs, we do not impose origination, pre-payment penalty, underwriting, processing, tax service, document preparation, or administrative fees. These savings can add up, potentially saving you thousands of dollars.

When you're ready to start the application process for a fixed conventional loan, whether for purchasing or refinancing your home, please reach out to our Mortgage Services team at 850.862.0111 x3737 or via secure email .

Be Prepared.

There are several things you will want to have ready before you begin the application process.

Before you begin the application process, we recommend you click and read the links below. "What to Expect" explains our loan process from beginning to end and the "Loan Checklist" outlines exactly what paperwork and other documentation you will need to move forward. When you are ready to begin the application process for a fixed conventional loan to purchase your home, please contact our Mortgage Services team at 850.862.0111 x3737 or via secure email.

what to expect rates & terms compare costs loan checklist

Mortgage Costs Comparison

You could save thousands on origination fees and lenders fees by financing with Eglin FCU.

Type of Fee Eglin FCU Other Lenders
Origination $0 up to 1%1
Pre-payment penalty $0 varies by lender
Underwriting $0 up to $8951
Processing $0 up to $4951
Tax service $0 up to $851
Document preparation $0 up to $1501
Administrative $0 up to $1501
1. Other lender fees shown are representational, fees vary by lender. All underwriting and servicing of Eglin FCU loans are done in house.

Are you a realtor?

Prior to ordering title work, surveys, or other services, please take the time to review our loan process & requirements

Here at Eglin FCU we have a different way of doings things than other lenders. Prior to ordering title work, surveys, or other services, please take the time to review our loan process and requirements. Click the links below to learn more about the various aspects of financing a fixed conventional loan with Eglin FCU. If you have any questions, please contact us at 850.862.0111 x3737 or via secure email.

loan process loan checklist membership eligibility qualifications

Fixed Conventional Loan Rates & Terms

You could save thousands by financing with Eglin FCU. Other than normal closing costs we do not charge any lender fees including underwriting, processing, tax service, document preparation and administrative fees. Additionally, there is no origination fee or pre-payment penalty. Fixed Conventional loans are available from $25,000 to $806,500 for mortgages on owner-occupied, single-family, primary residences. 30 year Fixed Conventional Loans are avaialable at 6.625% APR (Annual Percentage Rate). 20 year Fixed Conventional Loans are avaialable at 6.125% APR (Annual Percentage Rate). 15 year Fixed Conventional Loans are available at 6.000% APR (Annual Percentage Rate). Call 850.862.0111 x3737 or contact us via secure email to apply for a fixed conventional loan today.

Fixed Rate Mortgage

LOAN TERM APR* ORIGINATION FEE POINTS
30 year 6.625% 0% 0
20 year 6.125% 0% 0
15 year 6.000% 0% 0

Questions? Contact our Mortgage Services team today at 850.862.0111 x3737 or via secure email.

*APR = Annual Percentage Rate. Interest Rates are subject to change at any time and do not constitute a commitment.

Maximum Loan Amounts & Restrictions - Fixed Conventional

  1. Requires Eglin FCU Membership.
  2. Loans from $25,000 to $806,500
  3. Loan-to-Value: Purchase
    • We will lend up to 95% LTV of the appraised value or purchase price, whichever is less.
      **Maximum LTV on a Condo and Townhome is 75%.
      **Maximum LTV on a Mobile Home is 80%.
    • PMI is required for loans that exceed the 80% LTV.
  4. Loan-to-Value: Refinance
    • Cash-Out Refinance: We will lend up to 80% LTV of the appraised value.
      **Maximum LTV on a Condo and Townhome is 75%.
      **Maximum LTV on a Mobile Home is 65%.
    • No Cash-Out Refinance: We will lend up to 95% LTV of the appraised value. PMI is required for loans that exceed the 80% LTV.
      **Maximum LTV on a Condo and Townhome is 75%.
      **Maximum LTV on a Mobile Home is 80%.
  5. Property must be owner-occupied, single-family, primary residence
  6. Property must be located in one of the following Florida counties: Escambia, Santa Rosa, Okaloosa, Holmes, Walton, Bay & Washington.
  7. Additional fees may apply for cash-out transactions and transactions with secondary financing.
  8. No underwriting, processing, tax service, document preparation, or administrative fees.
  9. No origination fees.
  10. No pre-payment penalty.

Fixed Conventional Loan Payment Calculator


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Sample Repayment: A $250000  Fixed Conventional Loan over 360 months at an APR of 6.625%, the approximate payments would be $1466.01.

Disclaimer | Financial calculators are provided to give sample payments for given Annual Percentage Rate and Terms but are not guarantees of credit. There is no guarantee, explicit or implied, regarding the accuracy or applicability to your specific circumstances. All examples are hypothetical and are for illustrative purposes, and are not intended to provide investment advice. Please contact a Member Service Counselor for assistance with your specific loan request.
Buy a home.
The choice is easy. Eglin FCU members benefit from lower closing costs with NO ORIGINATION FEES and NO LENDER FEES.
learn more about home loans
Refinance with us.
Refinance your home with Eglin FCU for a lower interest rate or "cash out" and never pay ORIGINATION FEES or LENDERS FEES.
learn more about home refinancing
Get cash.
Take advantage of the equity in your home to fund home improvement projects, large purchases or consolidate debt using a Home Equity Loan or HELOC from Eglin FCU.
learn more about Home Equity Loans
Buy land.
Whether purchasing land as a long-term investment or to build your new home, Eglin FCU can help provide the funds to get you there.
learn more about unimproved property loans
Fixed Conventional Loan Payment Calculator
Use our fixed conventional loan payment calculator to determine how much you can afford.
Other Mortgage Calculators
Compare different terms, determine how much downpayment you should make, and more...
Registered Mortgage Loan Originators
Our local team of Registered Mortgage Loan Originators is ready to serve you.

Frequently Asked Questions

What types of properties and locations does your financing cover in Florida?
We finance single-family, primary residence property located in the following Florida counties: Bay, Escambia, Holmes, Okaloosa, Santa Rosa, Walton and Washington.

What is an early disclosure?
For HELOCs, the early disclosure (HELOC early disclosure) outlines crucial terms and conditions. It covers information such as what could happen to the borrower's home if they do not repay the HELOC as agreed, under what conditions the lender can terminate or reduce the credit line, and the length of the draw period. For specific questions regarding early disclosures please contact our Mortgage Services department at 850.862.0111 x3737 during business hours.

What is title insurance?
Title insurance is a policy that covers third-party claims on a property that do not show up in the initial title search and arise after a real estate closing. A third party could be someone other than the property's owner, such as a construction company that didn't get paid for its work on the home under a previous owner. Essentially, title insurance protects against unexpected ownership disputes or financial losses related to the property title. When you take out a mortgage, part of your closing costs includes title insurance, which primarily safeguards the lender. For specific questions regarding mortgage title insurance please contact our Mortgage Services department at 850.862.0111 x3737 during business hours.

What is mortgage hazard insurance?
Mortgage hazard insurance is a type of homeowners insurance coverage, also known as dwelling coverage. It protects your home from natural disasters or hazards such as fire, hail, windstorms, and fallen trees. When you qualify for a mortgage, lenders often require you to secure hazard insurance before closing on the home. For specific questions regarding mortgage hazard insurance please contact our Mortgage Services department at 850.862.0111 x3737 during business hours.

What is an escrow?
Mortgage escrow is a financial arrangement used in real estate transactions. During the home buying process, the Title Company will hold the earnest money deposit (EMD) until the purchase transaction closes. An earnest money deposit is a payment provided by the buyer to the seller to demonstrate their commitment to the purchase. As your mortgage lender we will establish an escrow account to pay for the property taxes and homeowners insurance after purchasing a home. Each month, a portion of your mortgage payment will go into this account, which can fluctuate annually depending on changes made to your property tax bill and insurance premium. For specific questions regarding your escrow account, please contact our Mortgage Services department at 850.862.0111 x3737 during business hours.

What is private mortgage insurance (PMI)?
Private Mortgage Insurance (PMI or MIP) is a type of coverage that is required if you obtain a Conventional mortgage - one that isn't federally guaranteed - and put down less than 20% to purchase a home or have less than 20% equity when refinancing. PMI protects the lender in case you default on the home loan. This premium is paid monthly and is factored into your mortgage payment. For specific questions regarding PMI, please contact our Mortgage Services department at 850.862.0111 x3737 during business hours.

What are closing costs?
Closing costs are fees associated with your home purchase. Some are paid to your lender, and others to third parties such as appraisal, inspection, and title companies, in order to finalize and fund your loan. For specific questions regarding mortgage closing costs please contact our Mortgage Services department at 850.862.0111 x3737 during business hours.

What is a subordination agreement?
A subordination agreement determines the order in which outstanding liens on your property are repaid if you stop making mortgage payments. For specific questions regarding subordination agreements please contact our Mortgage Services department at 850.862.0111 x3737 during business hours.

What is a mortgage rate lock?
A rate lock, or mortgage rate lock, is an agreement between a borrower and a lender that secures the interest rate on a mortgage for a specified period at the current market rate. During this time, the interest rate remains fixed, protecting you from potential increases. For specific questions about rate locks, including any associated costs or restrictions, please contact our Mortgage Services department at 850.862.0111 x3737 during business hours.

What should I expect during each phase of the process of getting a mortgage loan?
There are several stages of the mortgage process. Origination is the initial stage where your loan application is prepared and submitted. It involves gathering all necessary documents and information to start the loan process. During the origination phase, you will need to submit an application, pay the credit report fee (if applicable), sign and return the initial loan disclosures, provide supporting documentation, and pay the appraisal deposit (if applicable). Our responsibilities during origination include issuing the loan estimate and other initial loan disclosures, completing the initial review of the loan application and documentation, submitting the mortgage loan to underwriting for approval (if applicable), advising you of the approval decision, and moving your file to processing. The second stage is Processing. During processing, we review your loan file for completeness and data consistency, order necessary services from third parties, and submit your mortgage loan to underwriting for final approval. During the next stage, Underwriting, the underwriter will evaluate your supporting documentation, review your file for completeness and data consistency, and issue a "clear to close" upon satisfaction of all conditions. Your responsibility during both the processing and underwriting stages is to submit any additional documentation as requested. After underwriting and prior to closing, you will be expected to review your closing disclosure (if applicable) and wire funds to the title company (if applicable). We will verify the closing date and time with the title company, issue/balance the closing disclosure (if applicable), notify you if funds are required for closing, add Eglin FCU as a mortgagee on the insurance policies, complete your employment verification, and send the closing package to the title company. During the final step, Closing, you will sign the closing documents, pay any funds needed for closing (if applicable), and sign a notice of non-rescission/right to cancel (if applicable). We will then review the executed closing documents for funding approval and fund the loan.