Yet again, the answer to this question is going to vary from person to person. What represents a good rate for you might not be possible for someone else, depending on your respective credit scores. With strong credit and a healthy down payment, it’s certainly possible to find a rate in the 3% - 4% range. On the other hand, less-qualified buyers may need to deal with a rate over 10% in order to be approved for a loan. The key here is that you are able to afford your monthly payment, and that you shop around to find the best possible rate before you accept any offer and sign on the dotted line.