Use this tool throughout your homebuying process to explore the range of mortgage interest rates you can expect to receive. See how your credit score, loan type, home price, and down payment amount can affect your rate. Knowing your options and what to expect helps ensure that you get a mortgage that is right for you. Check back often -- the rates in the tool are updated every Wednesday and Friday.
Keep in mind that the interest rate is important, but not the only cost of a mortgage. Fees, points, mortgage insurance, and closing costs all add up. Compare Loan Estimates to get the best deal.
Explore rate options
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Many lenders do not accept borrowers with credit scores less than 620. Even if your score is low, you may still have options. Contact a housing counselor to learn more.
Credit score has a big impact on the rate you’ll receive. Learn more
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$380,000
Your down payment cannot be more than your house price.
While some lenders may offer FHA, VA, or 15-year adjustable-rate mortgages, they are rare. We don’t have enough data to display results for these combinations. Choose a fixed rate if you’d like to try these options.
Learn about loan term, rate type, and loan type
This tool assumes you want to purchase a single family house to be your primary residence. The rates quoted assume -0.5 to 0.5 discount points and a 60-day rate lock.
In , most lenders in our data are offering rates at or below .
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| number of corresponding rates |
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These rates are current as of ….
Explore what a lower interest rate means for your wallet vs.
Interest is only one of many costs associated with getting a mortgage. Learn more
Interest costs over the first 5 years
$150,000
$150,000
Over the first 5 years, an interest rate of 1% costs $0 more than an interest rate of 1%.
Interest costs over 30 years $150,000 Can change
$150,000 Can change
Over 30 years, an interest rate of 1% costs $0 more than an interest rate of 1%.
With the adjustable-rate mortgage you've chosen, the rate is only fixed for the first 5 years. Your interest costs in the future can change.
Interest is only one of many costs associated with getting a mortgage. Learn more
vs.
Interest is only one of many costs associated with getting a mortgage. Learn more
Interest costs over the first 5 years
$150,000
$150,000
Over the first 5 years, an interest rate of 1% costs $0 more than an interest rate of 1%.
Interest costs over 30 years $150,000 Can change
$150,000 Can change
Over 30 years, an interest rate of 1% costs $0 more than an interest rate of 1%.
With the adjustable-rate mortgage you've chosen, the rate is only fixed for the first 5 years. Your interest costs in the future can change.
$150,000 Can change
$150,000 Can change
Over 30 years, an interest rate of 1% costs $0 more than an interest rate of 1%.
With the adjustable-rate mortgage you've chosen, the rate is only fixed for the first 5 years. Your interest costs in the future can change.
Interest is only one of many costs associated with getting a mortgage. Learn more
Next steps: How to get the best interest rate on your mortgage
When you’re ready to get serious about buying, the best thing you can do to get a better interest rate on your mortgage is shop around. But if you don’t plan to buy for a few months, there are more things you can do to ensure you get a great rate on your mortgage.
- I plan to buy in the next couple of months
- I won’t buy for several months
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Shop around.
Get quotes from three or more lenders so you can see how they compare. Rates often change from when you first talk to a lender and when you submit your mortgage application, so don’t make a final decision before comparing official Loan Estimates.
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Consider all your options.
Make sure you’re getting the kind of loan that makes the most sense for you. If more than one kind of loan might make sense, ask lenders to give you quotes for each kind so you can compare. Once you’ve chosen a kind of loan, compare prices by getting quotes for the same kind of loan.
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Negotiate.
Getting quotes from multiple lenders puts you in a better bargaining position. If you prefer one lender, but another lender offers you a better rate, show the first lender the lower quote and ask them if they can match it.
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Watch your spending.
Don’t take out a car loan, make large purchases on your credit cards, or apply for new credit cards in the months before you plan to buy a house. Doing so can lower your credit score, and increase the interest rate lenders are likely to charge you on your mortgage.
Learn more about credit scores
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Improve your credit scores.
If you don’t plan to buy for at least six months, you may be able to improve your credit scores and get a better interest rate. Pay your bills on time, every time. If you have credit card debt, pay it down. But don’t close unused cards unless they carry an annual fee.
Learn about improving your credit scores
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Save for a larger down payment.
If your down payment is less than 20 percent, you’ll typically get a higher interest rate and have to pay for mortgage insurance. Save enough for a 20 percent down payment and you’ll usually pay less. Even going from a five percent down payment to a 10 percent down payment can save you money.
Learn more about down payments
Check your credit
If you haven’t checked your credit report recently, do so now . If you find errors, get them corrected before you apply for a mortgage.
About our data source for this tool
The lenders in our data include a mix of large banks, regional banks, and credit unions. The data is updated semiweekly every Wednesday and Friday at 7 a.m. In the event of a holiday, data will be refreshed on the next available business day.
The data is provided by Curinos , New York, NY. Curinos collects the data directly from lenders and every effort is made to collect the most accurate data possible, but they cannot guarantee the data’s accuracy.
