How rates work, how the main programs compare, and what actually sets your number — plus how to get a real, personalized quote in minutes.
Your mortgage rate depends on far more than the headline number you see advertised. The figures below are illustrative examples to show how programs compare — your real rate is set when you apply, based on your credit, loan size, down payment, property, and the market that day.
| Program | Sample rate | Sample APR | Good for |
|---|---|---|---|
| 30-year fixed | 6.50% | 6.63% | Predictable payments, the most common choice |
| 15-year fixed | 5.75% | 5.94% | Pay off faster, less total interest |
| FHA 30-year | 6.25% | 7.10% | Lower credit and down-payment barriers |
| VA 30-year | 6.10% | 6.34% | Eligible veterans, often zero down |
| Jumbo 30-year | 6.70% | 6.80% | Higher-value homes above conforming limits |
These are examples, not quotes. Rates and APRs shown are illustrative, assume strong credit and standard terms, and change daily. They are not an offer, commitment, or rate lock. For a real rate on your scenario, apply or call — it takes a few minutes with no credit pull to start.
The interest rate is the cost of borrowing the principal. The APR folds in certain fees to show the yearly cost more completely, which is why it is usually a touch higher. Compare APRs when weighing offers — and remember a lower rate bought with points costs money upfront. Our buy-down calculator shows when points pay off.
No one reliably times the bottom. If the numbers work for you today, waiting for a lower rate is a gamble that can cost you the home. If rates fall later, you can often refinance — our refinance calculator shows the break-even. The right move is the one that fits your plan, not a forecast.