What Is A YOURgage® and how does it work?

Historically, borrowers have had to choose between mitigating interest with a 15-year mortgage or lowering their monthly payment with a 30-year mortgage, with very few choices in between. Note that the longer your mortgage, the smaller your monthly payment, but the more interest you will pay over the life of the loan.

A fixed-rate mortgage is a popular choice among home buyers. If you don’t want to stick with the traditional 15-year or 30-year term options, a YOURgage might be the solution.¹ A YOURgage is a custom-term Rocket Mortgage product that empowers you to pick the timeline that best fits your financial situation.

What is a YOURgage loan?

One of several Rocket Mortgage products, the YOURgage is a home loan option that offers flexibility in choosing your loan term. You won't have to choose between the popular 15- or 30-year term options. With YOURgage, you can choose a loan term of 8 – 29 years.

Home buyers with specific financial goals will appreciate what YOURgage has to offer. With the ability to customize the length of your loan term, you’ll have greater control over your budget and payoff goals. When looking at different Rocket Mortgage programs, this is a unique way to tailor your financing.

• Greater flexibility: You don’t have to choose between 15- or 30-year terms. Instead, you can select a term length that works best for your goals.
• Fixed interest rate: A YOURgage comes with a fixed interest rate. With that, you won’t have to worry about interest rates rising in the future because you are locked in.
• Option to avoid private mortgage insurance (PMI) with a 20% down payment: If you don’t want to pay PMI, you can skip it by putting 20% down.
• Pay less in interest: If you choose a shorter loan term, you’ll pay less in mortgage interest over the life of your loan. Depending on your choice of term length, you might save thousands in interest payments.

How does a YOURgage work?

The process of obtaining a YOURgage is very similar to obtaining a traditional mortgage.

• Choose a loan term: You can choose a loan term that's anywhere from 8 – 29 years.
• Apply: Gather the required paperwork and complete your mortgage application. You'll need all the same information as a traditional mortgage, like your W-2 forms, pay stubs, and income tax returns. To help us verify your income and assets, you'll also want to have your bank statements handy.
• Make a regular monthly payment: Once the loan is finalized, you’ll start making regular monthly payments. You’ll pay off the loan at the end of the term.

Because a YOURgage comes with a fixed interest rate, you should expect consistent monthly payments on your principal and interest over the loan term.

You can use our mortgage calculator to experiment with different term lengths and find a payment that fits your budget.

When is it a good idea to get a YOURgage?

As a homeowner, control over your loan term can have a big impact on your financial picture. Instead of getting stuck with a mortgage term that is too long or too short, you can find the exact right term length for your situation.

You might have specific financial goals surrounding your mortgage. For example, you might want to pay off your home loan by a milestone birthday or retirement. With a YOURgage, you can build this goal directly into your monthly mortgage payments.

If you're on the fence about a YOURgage, consider calculating your potential savings tied to a shorter loan term. It might surprise you, but you could save thousands by opting for a shorter loan term.

For example, let's say you take out a $350,000 home loan with a 30-year term and an interest rate of 6.625% (6.893% APR).² You'd have monthly payments of $2,241.09 and pay a total of $456,791.81 in interest over the loan term. But if you opt for a 25-year loan term, you'd have a $2,363.23 monthly payment and pay $358,967.52 in total interest at 6.5% (6.827% APR).³ The shorter loan term would save you almost $98,000 in interest payments.

YOURgage approval requirements

When applying for a YOURgage, you must meet specific requirements. Here’s a look at the minimum mortgage requirements for a YOURgage:

• Credit score: There's no longer a minimum credit score associated with conventional loans backed by Fannie Mae or Freddie Mac. Instead, they look at factors related to your overall financial picture. But a higher credit score might unlock lower interest rates.
• Debt-to-income ratio (DTI): For the best chance of approval, your DTI shouldn't exceed 43%. You can calculate your DTI by dividing your total monthly debt payments by your income.
• Down payment: Buyers must make a down payment of at least 3%.⁴ However, you’ll need to put down at least 20% to avoid PMI.
• Cover closing costs: You must pay between 3% – 6% of the purchase price in closing costs. Be prepared to cover this expense to finalize the loan.
• Loan limits: In most of the United States, the conforming loan limit for a single-unit home cannot exceed $832,750 in 2026. But in Alaska, Hawaii, and certain high-cost areas, the limit can reach $1,249,125.

You’ll need a relatively solid financial position to finalize your home loan. Taking the time to pay down debt and improve your credit score can greatly increase your chances of mortgage approval and secure better interest rates.

The bottom line: YOURgage loans offer flexible mortgage terms

The YOURgage is a custom-term option that lets you choose a term of 8 – 29 years, so you can pay less interest or pay off on your own timeline. This gives you more control than the traditional 15- or 30-year options.

Ready to make a move? Start your application online today to see what terms you qualify for.

¹ Not available on FHA, VA, or adjustable-rate mortgages. Available for fixed-rate conventional products only.

² The payment on a $350,000 30-year fixed-rate loan at 6.625% is $2,241.09. The annual percentage rate (APR) is 6.893% and the loan-to-value ratio (LTV) is 80% for the cost of 1.75 points ($6,125.00) due at closing. One point is equal to one percent of the loan amount. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rates shown valid on publication date of March 9, 2026. Some state and county maximum loan amount restrictions may apply.

³ The payment on a $350,000 25-year fixed-rate loan at 6.5% is $2,363.23. The annual percentage rate (APR) is 6.827% and the loan-to-value ratio (LTV) is 80% for the cost of 2 points ($7,000.00) due at closing. One point is equal to one percent of the loan amount. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rates shown valid on publication date of March 9, 2026. Some state and county maximum loan amount restrictions may apply.

⁴ The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.

Rocket Mortgage, LLC, RockLoans Marketplace LLC (d/b/a Rocket Loans), Rocket Close, LLC, and Rocket Money, Inc. are separate operating subsidiaries of Rocket Limited Partnership. Redfin Corporation is an affiliated business. Each company is a separate legal entity operated and managed through its own management and governance structure. Rocket Limited Partnership and Redfin Corporation are wholly owned subsidiaries of Rocket Companies, Inc. (NYSE: RKT).