What mortgage rate can I get?

Rates depend on your credit score, down payment, loan type, and term. As of May 2026, 30-year fixed rates range from 6.2–7.0%. A 740+ credit score and 20% down typically gets you the best rate. VA loans price lower (6.20–6.70%) 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 May 2026
Soft credit check only
Refreshed weekly

Best 30-year rate

From 6.20%

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

Match with mortgage lenders

See your real mortgage rate from multiple lenders

Compare live, pre-qualified offers side-by-side. Soft credit check only — your score is not affected until you formally apply.

Sponsored network. WalletGrower may earn a commission when you qualify with one of our partners. Rankings are independent.

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Quotes reflect today's market rates from lenders in our partner network. Lock periods, points, and fees vary by lender.

Verified by the WalletGrower Editorial Team — current as of May 2026. We update rates, bonuses, fees, and product details regularly against each provider's published disclosures. Vendors can change offers between our update cycles, so we always recommend confirming the current published rate or bonus on the provider's site before signing up or 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 market is finally pricing under 7% again. Top lenders ranked by APR, draw period, fees, and minimum credit score.

Browse category

Hub tools

Free calculators that pair with mortgage shopping

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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 6.49% 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 @ 6.49%

$2,524/mo

$508K total interest

Savings from shopping

$48,600

over 30 years · $135/mo

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Refinance guide

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First-Time Buyer Guide

Down payment assistance programs, FHA basics, the closing-cost surprises everyone wishes they'd known about.

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Mortgage · refi

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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Updated

Mortgage · explainer

FHA vs Conventional

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

10 min readRead →

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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Mortgage · comparison

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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Updated May 13, 2026 · What changed: Full hub redesign — replaced minimal-layout page with HubHero + QuickPaths + CategoryCard grid + ArticleCards. Engine offer matcher pulled high. Featured shopping-math callout on multi-lender quote savings.

Quick answer: which Mortgage article 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.

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

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.