4.25% 30 Year Fixed Rate
Loan Amount
Loan Type

Program Rate APR
30-Yr fixed 4.750 % 0.7 to 1
15-Yr fixed 3.750 % 0.7 to 1
5/1 ARM 3.125 % 0.7 to 1
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How To Calculate and Find The Best Mortgage Rates

Buying your first home can be a harrowing experience. With all the legal terminology, real estate laws, different types of mortgages and rates, its easy to quickly become confused and simply “give in” to whatever your builder, real estate agent, or lender present to you. The most important aspect of the house buying process is finding the best mortgage rates. When borrowing money, you’ll want to be sure you’re getting the best deal possible – as your mortgage will most likely affect your finances for the next 20 – 30 years! There are many different types of mortgages available, and you’ll need to calculate mortgage rates based on which type you choose.

However, there are steps you can take to make sure that you find the best mortgage rates possible. The first thing you’ll want to do is check your credit report. This will outline any outstanding debt, delinquent payments, or other “black marks” against your credit score. Your credit score has a significant impact on the type of mortgage rate you’ll be able to obtain, so cleaning up your credit report before you go shopping about for a mortgage is essential.

Once you have a clean credit report, it’s time to go hunting for the lender with the best rates and plans. Deciding which type of mortgage you’re in the market for is a good idea before you head off to the lenders. There are many websites available that will help you calculate mortgage rates so that you have an idea of what to expect when approaching lenders. Finding a good mortgage broker is another option, as they’ll be able to explain in detail all of your different options.

After you believe you have found the best deal available, go back to the other various lenders and see if any of them can offer a better, or “sweeten”, the deal. Remember, these institutions want your money and your business, and normally if you push them a little you’ll be able to get a really great mortgage rate. They may even knock a little off of your closing costs in order to seal the deal with you.

Just remember – when buying a house you need to be educated and informed on what the best mortgage rates available to you are. Find a good, reliable website or mortgage broker and calculate mortgage rates based on your credit report, length of loan, and amount of down payment. Then, head into the lenders armed with this information and get the best mortgage rate you can!