What mortgage rate can I get?

Rates depend on your credit score, down payment, loan type, and term. As of the week of September 3, 2026, 30-year fixed rates average 6.71% (Freddie Mac PMMS). A 740+ credit score and 20% down typically gets you the best rate. VA loans price lower (advertised 30-year VA purchase rates near 5.99%, as of early September 2026) for eligible veterans.

Should I choose a 30-year or 15-year mortgage?

A 30-year mortgage has lower monthly payments but costs more in total interest. A 15-year mortgage has higher payments but saves tens of thousands in interest. Choose based on your monthly budget and how long you plan to stay in the home.

What is PMI and how do I avoid it?

Private Mortgage Insurance (PMI) is required when your down payment is less than 20%. It costs 0.5–1% of the loan annually. Put 20% down or refinance once you have 20% equity to eliminate PMI.

FHA vs conventional vs VA: which is best?

FHA is best for lower credit scores (580+) with 3.5% down. Conventional is best for good credit (620+) with competitive rates and no upfront mortgage insurance. VA is best for veterans with 0% down and no PMI.

How much house can I afford?

The general rule is your monthly payment should be no more than 28% of gross income. On a $100,000 salary, that's about $2,333/month, supporting roughly a $350,000–$400,000 home. Use our mortgage calculator for a precise estimate.

Should I pay points to lower my rate?

Paying 1 point (1% of loan) typically lowers your rate by 0.25%. It makes sense if you'll stay in the home 4+ years. Calculate your break-even point before deciding.

Mortgage

Find a mortgage. That actually fits your wallet.

Most buyers overpay because they get one quote. Real shopping — three to five lenders on the same day — saves an average of $10,000 over the life of the loan. We rank the lenders, surface the right loan type for your situation, and match you live.

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Verified June 2026
Soft credit check only
Refreshed weekly

Best 30-year rate

From 5.99%

VA loans · 0% down

Start by situation

Pick the path that matches your goal

First-time buyer

Step-by-step from pre-approval to keys

Refinancing

Lower payment, shorter term, or cash-out

FHA vs Conventional

Pick the right loan type for your credit

Veteran (VA loan)

0% down, no PMI, lowest rates

Personalized matcher · Soft pull only

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Verified by the WalletGrower Editorial Team — current as of September 21, 2026. Rates, fees, and offers can change between our update cycles; confirm on the provider's site before applying.

Browse by loan type

The mortgage that fits your situation

Loan type matters more than rate alone. FHA gets you in with 3.5% down. VA wins for vets. Conventional wins for strong credit. Cash-out refis tap equity without PMI.

First-Time Buyer

Step-by-step from pre-approval to keys. Down payment assistance programs, FHA basics, common closing-cost surprises.

Browse category

FHA vs Conventional

The most-asked question. Decision matrix by credit score + down payment. Real cost comparison over the life of the loan.

Browse category

VA Loans

0% down, no PMI, the lowest rates available. For active-duty, vets, and qualifying spouses. Veterans United is the leader here.

Browse category

Refinance

Cut your payment, shorten the term, or cash out equity. We walk through break-even math so you know if it's worth it.

Browse category

Home Equity (HELOC, HEI)

Tap equity without taking on a new mortgage. HEIs from Splitero, Hometap, Point have zero monthly payments.

Browse category

Best HELOC Lenders 2026

HELOC rates averaging 7.30% nationally (Bankrate, Aug 2026). Top lenders ranked by APR, draw period, fees, and minimum credit score.

Browse category

Hub tools

Free calculators that pair with mortgage shopping

All tools

Mortgage calculator

Monthly payment + total interest, fully editable.

Home equity calculator

See how much equity you can tap.

Rent vs buy

Compare total 5-year cost of each.

Budget builder

What you can really afford monthly.

Featured · shopping math

Get 3 quotes — save $10,000 over the loan.

On a $400K, 30-year mortgage, the difference between a 6.99% and a 7.24% rate is about $135/month — or $48,600 over 30 years. Most borrowers leave that on the table by accepting the first quote. The fix: pull soft-pull quotes from 3-5 lenders on the same day, then negotiate the best one against the others.

Soft pulls bundle within 14 days — no extra credit damage
Lock periods matter — 30-day vs 60-day affects your rate
Origination fees vary 0–2% — Better.com famously charges 0%

Compare top 3 lenders

$400K @ 6.99%

$2,659/mo

$557K total interest

$400K @ 7.24%

$2,524/mo

$508K total interest

Savings from shopping

$48,600

over 30 years · $135/mo

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When to Refinance Your Mortgage

Break-even math, rate-and-term vs cash-out vs streamline. The exact rate-drop that makes refi worth it.

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FHA vs Conventional

The decision tree by credit score + down payment. Real cost comparison over the life of the loan.

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Mortgage · VA

VA Loans Explained

0% down, no PMI, the lowest rates. Eligibility, COE process, and what makes Veterans United the leader.

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Rocket vs Better vs loanDepot

Side-by-side comparison of the three most-shopped lenders. Rates, fees, online vs in-person process.

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Home Equity · ranking

Best HELOC Lenders 2026

The HELOC market finally hit sub-7% APRs again. Top lenders ranked by APR, draw period, fees, and minimum credit.

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Get my mortgage rate

Quick answer

Which mortgage pick fits your situation?

Buying my first home

First-Time Buyer guide

Refinancing existing mortgage

When to Refinance

Need to choose loan type

FHA vs Conventional vs VA

Veteran or active-duty

VA Loans Explained

Want to tap home equity

Best HELOC Lenders 2026

Comparing top lenders

Rocket vs Better vs loanDepot

Decision matrix

Which path fits you?

Credit 740+ with 20% down

Conventional 30-year — best rates available

Credit 580–700 with under 10% down

FHA loan — 3.5% down, easier qualification

Active-duty or veteran

VA loan — 0% down, no PMI (Veterans United, and more)

Already owns home, current rate above 7%

Rate-and-term refinance worth checking

Already owns home, needs cash for renovation

HELOC or HEI — preserves your low first-mortgage rate

Buying in expensive metro (CA, NY, MA, WA)

Jumbo loan — Better.com and United Wholesale lead here

Methodology & how we picked these▾

Mortgage lender ranking weights five factors: (1) advertised APR ranges from current marketing pages (verified weekly), (2) origination fee structure (0% to 2% of loan), (3) speed-to-close (30, 45, or 60 days), (4) borrower credit floor for approval, and (5) NMLS / state-licensed availability. Rate quotes show ranges because actual rates depend on credit + LTV + loan-to-value tier — we publish bands not single numbers. We do not accept payment for placement. Refreshed weekly during market hours.