Mortgage rates change frequently throughout the day. Conventional Adjustable Rate Loans usually start with lower rates than conventional loans. We'll let you know how much the rate can be adjusted over the life of the loan, so you'll know from the beginning the absolute maximum amount you would ever have to pay. If you will be moving in a few years, or if you think interest rates will be going down, you'll want to consider an adjustable rate since monthly payments may be lower. FHA Loans offer fixed rates and require a relatively small down payment, and are insured through the Federal Housing Administration.
Mortgage rates change frequently throughout the day.
Once you know approximately how much home is in your price range, use the guide below or our convenient Mortgage Loan Calculator to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes, insurance and mortgage life insurance are also not included on the chart, but may be added to your monthly payments. Contact Us for current rates. Generally, it's a good idea for you to consider refinancing whenever the interest rate for mortgages is more than two percentage points below your present mortgage rate.