Mortgage Rates - Government Backed Mortgage Rates

Mortgage Rates

Mortgage Rates

Mortgage rates are constantly changing. Once you are pre-qualified for mortgage and ready to make an offer, you and your lender will then move on to the loan pre-approval phase. The lender will explain the current rates at that time with you. Please use the mortgage rate calculator below to get an idea of what your monthly payment could look like. View current rates and the weekly and monthly comparison mortgage rate tables. Learn the difference between a Fixed Rate Mortgage and an Adjustable Rate Mortgage. Check Government Backed Mortgage Options with little to no down payment options.

Government Backed Mortgages

Government Backed Mortgage Programs are available through the Department of Veterans Affairs and the Federal Housing Administration. If purchasing with VA loans,  you can check current VA loan rates at well. VA loans help buyers when purchasing due to not requiring a down payment. Veterans first need to get their Certificate of Eligibility.  FHA loans are also a government loan program in low down payment options for buyers Both programs require buyers to go through lenders, but the government backs the loan to provide a guarantee for the lender.

Adjustable and Fixed Rate Mortgage

Loans are generally Adjusted Rate or Fixed Rate. Both Adjusted Rate and Fixed Rate Mortgages have advantages and disadvantages. Dependent upon the buyers sitution, would depend on which type they might prefer to choose. We suggest buyers to learn more about Fixed Rate and Adjustable Rate Mortages , moreover to educate themselves thoroughly to know the difference in addition to asking their lender about the options. Rates change daily, because of this,  some might prefer fixed rate to keep it simple, while others might find adjustable rate more inviting based on their situation.

Rate Calculator

Use the mortgage rates calculator below in order to get an idea of what your mortgage payment could be. Rates of course will be dependent on your lending institutions.

When considering the monthly payment amount, remember to also consider the monthly cost of taxes and insurance in addition to the mortgage payment.

Current Rates and Rate Comparison

Current Mortage Rates

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