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A graph showing the trend of mortgage rate percentages from 2024-2025.A graph showing the trend of mortgage rate percentages from 2024-2025.

Check out today's pricing

Today's mortgage rates*

20-year fixed

6.5%

0.25%

APR

6.874%

Points

1.875 ($6,563)

30-year fixed

6.75%

0.13%

APR

7.039%

Points

1.875 ($6,563)

25-year fixed

6.75%

0.13%

APR

7.074%

Points

1.875 ($6,563)

30-year VA

5.875%

0.12%

APR

6.278%

Points

2 ($7,000)

30-year jumbo fixed

5.875%

0.12%

APR

6.109%

Points

2 ($22,000)

30-year FHA

5.875%

0.12%

APR

6.725%

Points

2 ($7,000)

*Compared week over week. Rates are current as of 1:40 AM UTC on June 11, 2026

Legal disclosures

The Rocket Mortgage purchase rates are for estimation purposes only. Every situation is different. Results do not reflect all loan programs and are subject to individual program loan limits. Qualification, rates and payments will vary based on timing and individual circumstances. Mortgage rates and pricing could change daily. Actual payments will vary based on your individual situation and current rates. Some products may not be available in all states. Some jumbo products may not be available to first time home buyers. Lending services may not be available in all areas. Some restrictions may apply. This is not a commitment to lend.

30-year Fixed-Rate Loan: An interest rate of 6.75% (7.039% APR) is for the cost of 1.875 point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,270.10. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

30-year Fixed-Rate VA Loan: An interest rate of 5.875% (6.278% APR) is for a cost of 2.00 Point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,070.39. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

30-year Fixed-Rate Loan: An interest rate of 5.875% (6.109% APR) is for the cost of 2.00 point(s) ($22,000.00) paid at closing. On a $1,100,000 mortgage, you would make monthly payments of $6,506.92. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 70.00%.

30-year FHA Fixed-Rate Loan: An interest rate of 5.875% (6.725% APR) is for the cost of 2.00 Point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,215.39. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

25-year Fixed-Rate Loan: An interest rate of 6.75% (7.074% APR) is for the cost of 1.875 point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,418.20. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

20-year Fixed-Rate Loan: An interest rate of 6.5% (6.874% APR) is for the cost of 1.875 point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,609.51. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

Assumptions

For all rates shown, unless otherwise noted, we assumed:
  • You're buying a single-family home that's your primary residence.
  • Closing costs will be paid up front, not rolled into the loan.
  • Your debt-to-income ratio is less than 43%.
  • Your credit score is 740.
  • You'll have an escrow account for payment of taxes and insurance.
  • One point is equal to one percent of the loan amount.

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How low rates impact your front door

Curious if it’s a good time for your next move? Let’s chat about your options.

Buy a home

Buying when rates are down can mean a smaller monthly payment and more room in your budget.

Refinance your loan

If you already own, refinancing when rates are low could reduce your monthly payment or help you save long term.

Tap into equity

Your home’s valuable. Take advantage of lower rates to free up cash by tapping into your home’s equity.

A better rate can open the door to what’s next

How lower rates can help home buyers

Lower rates means lower monthly payments & more room in your budget.

Discount points

You can buy points to lower your rate.

Temporary buydown

A temporary buydown lowers your rate for a limited time.

Disclaimer 2

The 2-1 temporary buydown offer is funded by Rocket Mortgage. Clients will receive an effective rate reduction of 2% below the note rate in the first year and 1% below the note rate in the second year. Offer only valid on HomeReady® or Home Possible® loans. Maximum loan amount of $350,000. Buydown funds may not be redeemed for cash or credit and are nontransferable. This offer cannot be retroactively applied to any loans in process or closed loans. Offer is subject to changes or cancellation at any time at the sole discretion of Rocket Mortgage. Additional restrictions/conditions may apply. This is not a commitment to lend. 

The payment on a $350,000 Home Ready or Home Possible loan at 6.99% is $2,326.21. The annual percentage rate (APR) is 7.399% and the loan-to-value ratio (LTV) is 95% for the cost of .5 points ($1,750) due at closing. One point is equal to one percent of the loan amount. Year 1 with 2% buydown the payment is $1876.74 and Year 2 with 1% buydown the payment is $2,096.18. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rates shown valid on publication date of August 20, 2024. Some state and county maximum loan amount restrictions may apply. 

Affordable loans

Eligible buyers can get credit toward their down payment or closing costs! Both are ways to lower your monthly payment. Explore our affordable loans.
A man stands inside of his new home, holding a bin and surrounded by moving boxes.

How lower rates can help home buyers

Lower rates means lower monthly payments & more room in your budget.

Discount points

You can buy points to lower your rate.

Temporary buydown

A temporary buydown lowers your rate for a limited time.

Disclaimer 2

The 2-1 temporary buydown offer is funded by Rocket Mortgage. Clients will receive an effective rate reduction of 2% below the note rate in the first year and 1% below the note rate in the second year. Offer only valid on HomeReady® or Home Possible® loans. Maximum loan amount of $350,000. Buydown funds may not be redeemed for cash or credit and are nontransferable. This offer cannot be retroactively applied to any loans in process or closed loans. Offer is subject to changes or cancellation at any time at the sole discretion of Rocket Mortgage. Additional restrictions/conditions may apply. This is not a commitment to lend. 

The payment on a $350,000 Home Ready or Home Possible loan at 6.99% is $2,326.21. The annual percentage rate (APR) is 7.399% and the loan-to-value ratio (LTV) is 95% for the cost of .5 points ($1,750) due at closing. One point is equal to one percent of the loan amount. Year 1 with 2% buydown the payment is $1876.74 and Year 2 with 1% buydown the payment is $2,096.18. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rates shown valid on publication date of August 20, 2024. Some state and county maximum loan amount restrictions may apply. 

Affordable loans

Eligible buyers can get credit toward their down payment or closing costs! Both are ways to lower your monthly payment. Explore our affordable loans.
A man stands inside of his new home, holding a bin and surrounded by moving boxes.

Lower rates can help you move, refi, renovate & more

This could be the moment to bring back plans you had put on pause.

Cash-out options

Homeowners have historically high levels of home equity – and you can use it to get cash.

Change your rate, payment or term

Free up room in your budget with a lower monthly payment.

Sell your home, buy another, save more

With lower rates, it might be the perfect time to make a move.
A woman in a blue sweatshirt stands in front of a large hole in a wall during a home renovation.

Compare rates

Monthly payment examples below are for a loan amount of $350k ($1,100k on Jumbo). Taxes and insurance not included within the estimate; actual payment amount will be greater.

30-year fixed
30-year FHA
30-year jumbo fixed
VA 30-year jumbo fixed
VA 30-year fixed
FHA 25-year fixed
VA 25-year fixed
20-year fixed
FHA 20-year fixed
VA 20-year fixed
15-year fixed
FHA 15-year fixed
VA 15-year fixed
Rate 6.75%
APR
7.039%
Points
1.875  ($6,563)
Rate 5.875%
APR
6.725%
Points
2  ($7,000)
Rate 5.875%
APR
6.109%
Points
2  ($22,000)
Rate 5.875%
APR
6.205%
Points
1.75  ($19,250)
Rate 5.875%
APR
6.278%
Points
2  ($7,000)
Rate 5.99%
APR
6.893%
Points
1.625  ($5,688)
Rate 5.99%
APR
6.421%
Points
1.75  ($6,125)
Rate 6.5%
APR
6.874%
Points
1.875  ($6,563)
Rate 5.99%
APR
7.057%
Points
1.875  ($6,563)
Rate 5.99%
APR
6.514%
Points
1.875  ($6,563)
Rate 5.875%
APR
6.35%
Points
2  ($7,000)
Rate 5.49%
APR
6.427%
Points
2  ($7,000)
Rate 5.49%
APR
6.116%
Points
1.75  ($6,125)
30-year fixed
30-year FHA
30-year jumbo fixed
VA 30-year jumbo fixed
VA 30-year fixed
FHA 25-year fixed
VA 25-year fixed
20-year fixed
FHA 20-year fixed
VA 20-year fixed
15-year fixed
FHA 15-year fixed
VA 15-year fixed
Rate 6.75%
APR
7.039%
Points
1.875  ($6,563)
Rate 5.875%
APR
6.725%
Points
2  ($7,000)
Rate 5.875%
APR
6.109%
Points
2  ($22,000)
Rate 5.875%
APR
6.205%
Points
1.75  ($19,250)
Rate 5.875%
APR
6.278%
Points
2  ($7,000)
Rate 5.99%
APR
6.893%
Points
1.625  ($5,688)
Rate 5.99%
APR
6.421%
Points
1.75  ($6,125)
Rate 6.5%
APR
6.874%
Points
1.875  ($6,563)
Rate 5.99%
APR
7.057%
Points
1.875  ($6,563)
Rate 5.99%
APR
6.514%
Points
1.875  ($6,563)
Rate 5.875%
APR
6.35%
Points
2  ($7,000)
Rate 5.49%
APR
6.427%
Points
2  ($7,000)
Rate 5.49%
APR
6.116%
Points
1.75  ($6,125)

Rates are current as of 8:45 PM UTC on June 10, 2026

Legal disclosures

The Rocket Mortgage Purchase Rates are for estimation purposes only. Every situation is different. Results do not reflect all loan programs and are subject to individual program loan limits. Qualification, rates and payments will vary based on timing and individual circumstances. Mortgage rates and pricing could change daily. Actual payments will vary based on your individual situation and current rates. Some products may not be available in all states. Some jumbo products may not be available to first time home buyers. Lending services may not be available in all areas. Some restrictions may apply. This is not a commitment to lend. 30-year Fixed-Rate Loan: An interest rate of 6.75% (7.039% APR) is for the cost of 1.875 point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,270.10. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

20-year Fixed-Rate Loan: An interest rate of 6.5% (6.874% APR) is for the cost of 1.875 point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,609.51. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

30-year FHA Fixed-Rate Loan: An interest rate of 5.875% (6.725% APR) is for the cost of 2.00 Point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,215.39. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

30-year Fixed-Rate Jumbo Loan: An interest rate of 5.875% (6.109% APR) is for the cost of 2.00 point(s) ($22,000.00) paid at closing. On a $1,100,000 mortgage, you would make monthly payments of $6,506.92. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 70.00%.

30-year Fixed-Rate VA Jumbo Loan: An interest rate of 5.875% (6.205% APR) is for a cost of 1.75 Point(s) ($19,250.00) paid at closing. On a $1,100,000 mortgage, you would make monthly payments of $6,506.92. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 70.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

30-year Fixed-Rate VA Loan: An interest rate of 5.875% (6.278% APR) is for a cost of 2.00 Point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,070.39. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

25-year FHA Fixed-Rate Loan: An interest rate of 5.99% (6.893% APR) is for the cost of 1.625 Point(s) ($5,687.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,397.58. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

25-year Fixed-Rate VA Loan: An interest rate of 5.99% (6.421% APR) is for a cost of 1.75 Point(s) ($6,125.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,252.92. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

20-year FHA Fixed-Rate Loan: An interest rate of 5.99% (7.057% APR) is for the cost of 1.875 Point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,649.56. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

20-year Fixed-Rate VA Loan: An interest rate of 5.99% (6.514% APR) is for a cost of 1.875 Point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,505.49. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

15-year Fixed-Rate Loan: An interest rate of 5.875% (6.35% APR) is for the cost of 2.00 point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,929.92. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

15-year FHA Fixed-Rate Loan: An interest rate of 5.49% (6.427% APR) is for the cost of 2.00 Point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,900.81. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.15% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.15% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

15-year Fixed-Rate VA Loan: An interest rate of 5.49% (6.116% APR) is for a cost of 1.75 Point(s) ($6,125.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,857.94. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

Assumptions:

For all rates shown, unless otherwise noted, we assumed:
  • You’re buying a single-family home that’s your primary residence.
  • Closing costs will be paid up front, not rolled into the loan.
  • Your debt-to-income ratio is less than 43%.
  • Your credit score is 740.
  • You’ll have an escrow account for payment of taxes and insurance.

Monthly payment examples below are for a loan amount of $275k ($1,100k on Jumbo). Taxes and insurance not included within the estimate; actual payment amount will be greater.

30-year fixed
30-year FHA
30-year jumbo fixed
VA 30-year jumbo fixed
VA 30-year fixed
FHA 25-year fixed
VA 25-year fixed
20-year fixed
FHA 20-year fixed
VA 20-year fixed
15-year fixed
FHA 15-year fixed
VA 15-year fixed
Rate 6.125%
APR
6.429%
Points
2  ($5,500)
Rate 5.625%
APR
6.487%
Points
2  ($5,500)
Rate 5.875%
APR
6.108%
Points
2  ($22,000)
Rate 5.49%
APR
5.886%
Points
1.625  ($17,875)
Rate 5.625%
APR
6.129%
Points
2  ($5,500)
Rate 5.625%
APR
6.585%
Points
2  ($5,500)
Rate 5.625%
APR
6.197%
Points
2  ($5,500)
Rate 5.875%
APR
6.225%
Points
1.625  ($4,469)
Rate 5.75%
APR
6.805%
Points
1.625  ($4,469)
Rate 5.75%
APR
6.38%
Points
1.625  ($4,469)
Rate 5.5%
APR
5.973%
Points
1.875  ($5,157)
Rate 5.125%
APR
6.046%
Points
1.75  ($4,813)
Rate 5.125%
APR
5.941%
Points
1.875  ($5,157)
30-year fixed
30-year FHA
30-year jumbo fixed
VA 30-year jumbo fixed
VA 30-year fixed
FHA 25-year fixed
VA 25-year fixed
20-year fixed
FHA 20-year fixed
VA 20-year fixed
15-year fixed
FHA 15-year fixed
VA 15-year fixed
Rate 6.125%
APR
6.429%
Points
2  ($5,500)
Rate 5.625%
APR
6.487%
Points
2  ($5,500)
Rate 5.875%
APR
6.108%
Points
2  ($22,000)
Rate 5.49%
APR
5.886%
Points
1.625  ($17,875)
Rate 5.625%
APR
6.129%
Points
2  ($5,500)
Rate 5.625%
APR
6.585%
Points
2  ($5,500)
Rate 5.625%
APR
6.197%
Points
2  ($5,500)
Rate 5.875%
APR
6.225%
Points
1.625  ($4,469)
Rate 5.75%
APR
6.805%
Points
1.625  ($4,469)
Rate 5.75%
APR
6.38%
Points
1.625  ($4,469)
Rate 5.5%
APR
5.973%
Points
1.875  ($5,157)
Rate 5.125%
APR
6.046%
Points
1.75  ($4,813)
Rate 5.125%
APR
5.941%
Points
1.875  ($5,157)

Rates are current as of 8:45 PM UTC on June 10, 2026

Legal disclosures

The Rocket Mortgage Refinance Rates are for estimation purposes only. Every situation is different. Results do not reflect all loan programs and are subject to individual program loan limits. Qualification, rates and payments will vary based on timing and individual circumstances. Mortgage rates and pricing could change daily. Actual payments will vary based on your individual situation and current rates. Some products may not be available in all states. Some jumbo products may not be available to first time home buyers. Lending services may not be available in all areas. Some restrictions may apply. This is not a commitment to lend. 30-year Fixed-Rate Loan: An interest rate of 6.125% (6.429% APR) is for the cost of 2.00 point(s) ($5,500.00) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,670.93. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

20-year Fixed-Rate Loan: An interest rate of 5.875% (6.225% APR) is for the cost of 1.625 point(s) ($4,468.75) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,950.41. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

30-year FHA Fixed-Rate Loan: An interest rate of 5.625% (6.487% APR) is for the cost of 2.00 Point(s) ($5,500.00) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,696.96. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 60.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

30-year Fixed-Rate Jumbo Loan: An interest rate of 5.875% (6.108% APR) is for the cost of 2.00 point(s) ($22,000.00) paid at closing. On a $1,100,000 mortgage, you would make monthly payments of $6,506.92. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 70.00%.

30-year Fixed-Rate VA Jumbo Loan: An interest rate of 5.49% (5.886% APR) is for a cost of 1.625 Point(s) ($17,875.00) paid at closing. On a $1,100,000 mortgage, you would make monthly payments of $6,238.78. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 70.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

30-year Fixed-Rate VA Loan: An interest rate of 5.625% (6.129% APR) is for a cost of 2.00 Point(s) ($5,500.00) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,583.06. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

25-year FHA Fixed-Rate Loan: An interest rate of 5.625% (6.585% APR) is for the cost of 2.00 Point(s) ($5,500.00) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,822.95. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 60.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

25-year Fixed-Rate VA Loan: An interest rate of 5.625% (6.197% APR) is for a cost of 2.00 Point(s) ($5,500.00) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,709.34. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

20-year FHA Fixed-Rate Loan: An interest rate of 5.75% (6.805% APR) is for the cost of 1.625 Point(s) ($4,468.75) paid at closing. On a $275,000 mortgage, you would make monthly payments of $2,043.89. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 60.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

20-year Fixed-Rate VA Loan: An interest rate of 5.75% (6.38% APR) is for a cost of 1.625 Point(s) ($4,468.75) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,930.73. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

15-year Fixed-Rate Loan: An interest rate of 5.5% (5.973% APR) is for the cost of 1.875 point(s) ($5,156.25) paid at closing. On a $275,000 mortgage, you would make monthly payments of $2,246.98. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

15-year FHA Fixed-Rate Loan: An interest rate of 5.125% (6.046% APR) is for the cost of 1.75 Point(s) ($4,812.50) paid at closing. On a $275,000 mortgage, you would make monthly payments of $2,226.31. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.15% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 60.00%, the 0.15% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

15-year Fixed-Rate VA Loan: An interest rate of 5.125% (5.941% APR) is for a cost of 1.875 Point(s) ($5,156.25) paid at closing. On a $275,000 mortgage, you would make monthly payments of $2,192.64. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

Assumptions:

For all rates shown, unless otherwise noted, we assumed:
  • You’re buying a single-family home that’s your primary residence.
  • Closing costs will be paid up front, not rolled into the loan.
  • Your debt-to-income ratio is less than 43%.
  • Your credit score is 740.
  • You’ll have an escrow account for payment of taxes and insurance.
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Interest rate FAQs

It’s a percentage you’re charged to borrow money, applied to your loan amount.

Annual percentage rate (APR) includes your interest rate plus loan fees. It gives you a more complete view of what you’ll pay each year to borrow money, making it easier to compare loans.

It means your interest rate stays the same for as long as you have the loan.

Also called a variable-rate mortgage or hybrid ARM, it’s a home loan with an interest rate that adjusts periodically based on the market.

The Federal Reserve (‘the Fed’) is the U.S. central bank. It manages monetary policy, oversees parts of the financial system, and works to keep the economy stable. The Fed doesn’t set individual mortgage rates, but its policies can influence overall interest rate trends.

Your mortgage rate is based on a mix of personal financial factors and overall market conditions.

Credit score: Higher credit scores typically means a lower interest rate because they predict you’re more likely to pay back your mortgage.

Debt-to-income ratio (DTI): A lower DTI shows you have less debt compared to your income, which can help you qualify for a lower rate.

Market conditions: The Federal Reserve, inflation and trends in the housing market all influence mortgage rates.

Important legal disclosures

1Refinancing may increase charges over the life of the loan. Rate alert communications are not a commitment to lend. All loans are subject to credit and property approval..