Whether you need to refinance your existing mortgage loan or are looking for a mortgage loan to buy a new home, the table below can help you find the best mortgage rates quickly.
Use the filters at the top to select your desired loan amount, term, type and location to see what loans may be available to you. Also, if you would like to receive customized mortgage quotes (including reverse mortgage quotes) from up to four lenders, fill out the form also on this page.
When it comes to mortgages, the length of the agreement and the sum of money involved make it vital that you do your homework. More so than almost any other financial transaction, it pays to get the details right on your mortgage. Your home may be the biggest purchase of your life, and the type of mortgage you choose significantly influences how long and how much you pay for it.
There are many factors to consider when shopping for a mortgage, but mortgage rates fall into one of two categories: fixed rate and adjustable rate. Knowing the difference between the two is key, as which you choose can make a big difference to your bottom line.
Fixed-rate mortgages are the most common type of mortgage loan. They use a static interest rate that locks in an unchanging monthly payment for the life of the mortgage. Fixed-rate loans most often come in 15-, 20- or 30-year terms.
Adjustable-rate mortgages feature interest rates that fluctuate according to market conditions throughout the life of the loan. You may start with a lower monthly interest rate than the prevailing fixed interest rate, but you will likely end up with a higher rate after the initial loan adjustment period, which can last from 6 months to 10 years.
Other factors to consider when choosing a mortgage are the fees and closing costs. These can vary between lenders, so it pays to examine how these charges will affect your mortgage's overall price.
Typical fees include appraisal and application fees, origination/underwriting fees, broker fees and settlement/closing costs. The variety of fees can seem dizzying (and costly) to borrowers, but they are often negotiable. No-cost loans also exist, but they usually feature higher interest rates.
Buying a home can be a complex and tiring process. But by thoroughly examining your options, you can better your chances of finding the home loan that best suits your long-term needs.
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