Find the lowest 30-yr, 15-yr, FHA, VA, and HELOC rates — updated daily from 150+ lenders
150+ Lenders
Rates from 5.99%
Close in 21 Days
Top Mortgage & HELOC Lenders
Lender
Rate/APR
Loan Type
Min Score
Amount
Close Time
Rating
Action
Mortgage & HELOC Guidance
Mortgage Types Explained
30-Year Fixed
The most common mortgage option. Predictable monthly payments over 30 years with a fixed interest rate.
15-Year Fixed
Higher monthly payments but you build equity faster and pay significantly less interest over the life of the loan.
FHA Loans
Government-backed loans perfect for first-time homebuyers. Requires lower down payments and credit scores as low as 500.
VA Loans
Exclusive to military members and veterans. Often feature no down payment requirement and competitive rates.
Jumbo Loans
For high-value properties exceeding conventional loan limits. Typically require excellent credit and larger down payments.
HELOC
Home Equity Line of Credit. Borrow against your home's equity with flexible terms and variable rates.
What Affects Your Mortgage Rate?
Credit Score
Higher scores (740+) get better rates. Each 20-point increase can save you thousands over the loan term.
Loan-to-Value Ratio (LTV)
Lower down payments (higher LTV) result in higher rates. A 20% down payment typically gets the best rates.
Loan Type
FHA and VA loans have different rate structures. Jumbo loans typically carry higher rates due to larger amounts.
Market Conditions
Rates fluctuate based on Fed policy, inflation, and economic data. Monitor trends daily for the best opportunities.
Discount Points
Pay 1% of the loan amount upfront to reduce your rate by approximately 0.25%. Beneficial if you plan to stay long-term.
Lock Period
Shorter lock periods (15-30 days) offer lower rates. Longer locks (60 days) cost more but provide rate certainty.
Frequently Asked Questions
What credit score do I need for a mortgage?▼
Most conventional loans require a minimum credit score of 620. However, FHA loans allow scores as low as 500, though scores of 580+ get better terms. VA loans have no official minimum but lenders typically prefer 620+. To qualify for the best rates, aim for a score of 740 or higher. If your score is lower, consider working on building credit before applying.
How much down payment do I need?▼
Down payment requirements vary by loan type. Conventional loans typically require 5-20%. FHA loans need only 3.5-10%. VA loans often require 0% down for eligible military members. Jumbo loans usually require 10-20%. A larger down payment (20%+) helps you avoid PMI (Private Mortgage Insurance) and secure better rates. Even if you have less to put down initially, lenders like Better.com and Rocket Mortgage offer competitive options with lower down payments.
What's the difference between a HELOC and cash-out refinance?▼
A HELOC (Home Equity Line of Credit) is a revolving credit line where you draw money as needed and pay interest only on what you use. It's flexible and often has lower rates initially. A cash-out refinance replaces your entire mortgage with a new one for a larger amount, giving you the difference in cash. Cash-out refis lock in fixed terms but may have higher closing costs. Choose a HELOC for flexibility and a refi for simplicity if refinancing makes sense anyway.
Should I choose a 15-year or 30-year mortgage?▼
A 30-year mortgage offers lower monthly payments and greater flexibility—ideal if you want to preserve cash flow for other investments or emergencies. A 15-year mortgage builds equity faster and costs significantly less in interest over the loan term, but monthly payments are roughly 40-50% higher. Choose 30 years if you prioritize affordability and flexibility. Choose 15 years if you can comfortably afford the higher payments and want to minimize total interest paid.
How long does mortgage approval take?▼
Mortgage approval typically takes 17-30 days from application to close. Some lenders like loanDepot offer faster closings in as few as 17 days by streamlining the underwriting process. Others like Figure specialize in fast HELOCs, closing in as little as 5 days. The timeline depends on your financial documentation, credit complexity, and appraisal speed. Digital lenders like Better.com and Rocket Mortgage often move faster than traditional banks because they use automated systems.