30-Year Fixed
The interest rate does not change during the loan term. Compare the monthly principal-and-interest payment, APR, points, fees, and total cost.
CFPB fixed-rate overview ↗15-Year Fixed
A shorter term changes both the monthly payment and total interest. Compare written terms rather than assuming it is the better fit.
Compare Loan Estimates ↗FHA Loans
FHA-insured loans have program, property, insurance, and lender requirements. Verify current rules with HUD or a HUD-approved housing counselor.
Official HUD FHA guidance ↗VA Loans
VA-backed loans have eligibility, occupancy, funding-fee, property, and lender requirements. Verify the current program rules with VA.
Official VA purchase-loan guidance ↗Jumbo Loans
Loans above the applicable conforming loan limit are commonly called jumbo loans. FHFA updates limits, and limits can vary by location and property type.
Current FHFA limits ↗5/1 ARM
An adjustable-rate mortgage can change after its initial period. Review the index, margin, adjustment schedule, caps, and maximum possible payment.
CFPB ARM guidance ↗Match the Scenario
Compare the same loan amount, property use, term, down payment, and lock period.
CFPB comparison steps ↗Review Rate and APR
APR incorporates interest and certain costs; it is not the same as the note rate. Review both along with points and lender credits.
CFPB rate-vs-APR guide ↗Confirm the Date
Interest rates can change daily. Compare offers issued on the same day and ask when each rate can be locked.
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