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Top picks
The options we would actually recommend this week.
Rocket Mortgage
- ✓ONE+ lets eligible buyers put 1% down with no PMI
- ✓FHA loans with 3.5% down
- ✓Top-rated online application and service
Home Lending
- ✓Homebuyer grants up to $7,500 toward closing or down payment
- ✓Standard Agency loan with as little as 3% down
- ✓Relationship discounts for Chase customers
Mortgage
- ✓Largest FHA lender by volume
- ✓DTI flexibility up to 50%+ for some applicants
- ✓First-year rate reduction options
Mortgage
- ✓Fully digital application
- ✓No lender origination fees
- ✓Fast preapproval
CrossCountry Mortgage
- ✓Competitive refinance rates
- ✓Lower credit-score thresholds
- ✓Quick closing times
Guild Mortgage
- ✓Flexible credit requirements on FHA and government loans
- ✓Strong first-time-buyer programs
- ✓In-house servicing
See what shopping the rate is worth.
On a $350,000 mortgage, half a point off the rate saves about $35,000 in interest over 30 years. The bank is counting on you to take the first quote. Do not.
Your mortgage amountQuick comparison
| Provider | Rate | Best for | Score | |
|---|---|---|---|---|
| | ONE+ 1% down option | Best overall lender | 9.3/10 | View offer |
| | Up to $7,500 homebuyer grant | Best first-time grants | 8.9/10 | View offer |
| | Largest FHA lender | Best FHA lender | 8.7/10 | View offer |
| | Fully online, no lender fees | Best online experience | 8.6/10 | View offer |
| | Low credit-score options, fast close | Best for refinancing | 8.6/10 | View offer |
| | Flexible credit for government loans | Best for flexible credit | 8.5/10 | View offer |
| | Relationship discounts | Best for bank customers | 8.4/10 | View offer |
| | Flexible, government-loan focus | Best for underserved borrowers | 8.3/10 | View offer |
Guides
Read before you buy.
Adjustable-Rate Mortgages: How ARMs Work and When They Make Sense
An ARM starts with a lower fixed rate, then adjusts with the market. Here is how the index, margin, and rate caps really work, and the one situation where an ARM beats a fixed loan.
Mortgage Closing Costs: What to Expect and How to Reduce Them
Closing costs typically add 2% to 5% to the cost of buying a home. This guide walks every line item, names the fees you can negotiate, and shows how to cut what you pay at closing.
How Much Down Payment Do You Actually Need?
The 20% down payment is a guideline, not a rule. Conventional loans go to 3% down, FHA to 3.5%, VA and USDA to zero. Here is what each path costs and where the money can come from.
First-Time Homebuyer Guide: The Whole Process, Minus the Mystery
From credit check to closing table, here is the first-time buyer playbook. What you need saved, which loan programs cut the down payment to 3% or less, and where buyers lose money.
Latest
Latest in Mortgages
If You Gave Up on Buying This Spring, First-Time Buyers Just Took Back a Third of the Market
First-time buyers grabbed 33% of existing-home sales in June, up from 30% a year ago, as bidding fever broke. Prices are still at a record $440,600 and 30-year rates sit at 6.58%. But the competition dropped. If you got out-bid this spring, the door cracked open.
The Line of Buyers Behind You Just Got Shorter. Ask for the Concession.
NAR pending home sales fell 5.4% in June, the sharpest drop in six months and the lowest June on record. Existing single-family inventory is at a 10-year high. If you can qualify at 6.5%, this is your window to negotiate.
If You're Buying a Condo, the Easy Underwriting Path Ends August 3
Fannie Mae and Freddie Mac retire Limited and Streamlined Review on August 3, 2026. Every conventional condo loan application dated on or after has to clear Full Review, which pulls HOA financials, reserve studies, and litigation history. Here's the move if you're mid-shop.
Best for
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Mortgage questions, answered.
How much of a down payment do I need to buy a house?
The minimum depends on the loan type. Conventional loans start at 3% down (first-time buyers) or 5% down (repeat buyers). FHA loans need 3.5% down with a 580+ credit score. VA and USDA loans need 0% down for eligible borrowers. Put down less than 20% on a conventional loan and you owe private mortgage insurance (PMI), which adds 0.5-1.5% of the loan amount to your annual cost. Hit 20% down and PMI disappears, and so does that piece of the monthly payment.
What is the difference between a mortgage rate and an APR?
The rate is the base cost of borrowing, expressed annually. The APR (annual percentage rate) layers in lender fees like origination, points, and other closing costs, then spreads them across the loan term. APR is always higher than the rate and is the cleaner number to compare across lenders. If lender A offers 6.50% with no points and lender B offers 6.25% with 1 point, the APR comparison tells you which is actually cheaper for the time you plan to stay in the home.
Should I lock my mortgage rate?
Yes, in most cases. A rate lock holds your quoted rate for a fixed window, typically 30-60 days, while you close. Rates can move meaningfully in weeks. Once you have a signed purchase agreement and a credible closing date, locking removes the risk of paying more if rates climb before closing. Most lenders offer free locks. If you need longer than 60 days, expect to pay a lock extension fee or a slightly higher rate.
What are mortgage points and are they worth buying?
One discount point equals 1% of your loan amount and usually trims your rate by 0.25%. On a $350,000 loan, one point costs $3,500 and saves about $55/month on a 6.5% loan. The break-even is roughly 64 months (5.3 years). Buying points makes sense if you plan to stay past the break-even and have the cash. It does not make sense if you might refinance or sell within a few years.
How long does the mortgage process take?
From application to closing, the average mortgage runs 30-60 days. The exact timeline depends on the lender, loan type, and how fast you hand over documents. Online lenders like Better and Rocket Mortgage can move faster, sometimes closing in 3 weeks. Government-backed loans (FHA, VA) often take a bit longer because of extra requirements. The most common delay is slow paperwork from borrowers. Have your W-2s, bank statements, and tax returns ready before you apply.
Also worth comparing
New mortgage? Make sure the house gets paid for if you do not.
A term life policy sized to your mortgage means your family keeps the house even if you do not. Lock it in young and it costs less than most people expect, often under $40 a month for healthy buyers in their thirties.
Learn about term life insurance →