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US Rate Comparison Tool

Compare two mortgage rates side-by-side to see the real difference in monthly payments, 5-year cost, and total interest over your amortization.

Loan Details

$
$100,000$3,000,000
$
$32,500$650,000
yrs
5 yrs30 yrs

Compare Rates

Enter two rates to compare, e.g. a fixed rate vs a variable rate.

%
0.5%15%
%
0.5%15%
Rate B is 0.90% lower, saving $265/month and $79,427 in total interest.

Cost Comparison

Rate A
Rate B

Summary

Monthly Payment

Rate A

$3,007

Rate BBest

$2,742

5-Year Interest

Rate A

$120,203

Rate BBest

$97,377

Total Interest

Rate A

$381,991

Rate BBest

$302,564

US Mortgage Rate Comparison — Frequently Asked Questions

What is the difference between fixed-rate and adjustable-rate mortgages (ARM)?
A fixed-rate mortgage locks in your interest rate for the entire loan term, providing predictable monthly payments. An adjustable-rate mortgage (ARM) has a fixed rate for an initial period — typically 5, 7, or 10 years — then adjusts periodically based on market rates. ARMs often start with lower rates but carry the risk of future increases.
What is the difference between a 15-year and 30-year fixed mortgage?
A 15-year mortgage typically has a lower interest rate than a 30-year mortgage but requires significantly higher monthly payments. However, you build equity twice as fast and pay substantially less total interest. A 30-year mortgage offers lower monthly payments, making homeownership more accessible, but you pay more interest over the life of the loan.
How do FHA, VA, and conventional loan rates compare?
FHA loans typically offer slightly lower rates than conventional loans but require mortgage insurance premiums (MIP) for the life of the loan if your down payment is under 10%. VA loans often have the lowest rates and require no mortgage insurance but charge a funding fee. Conventional loans may have higher rates but offer more flexibility with PMI removal.
What factors determine the mortgage rate I qualify for?
Your mortgage rate depends on your credit score (higher scores get better rates), loan-to-value ratio (more equity equals lower risk), loan type and term, property type, occupancy status (owner-occupied vs investment), debt-to-income ratio, and current market conditions including Federal Reserve policy and bond yields.
Is it better to choose a higher rate with lower closing costs?
This depends on how long you plan to stay in the home. If you plan to stay for many years, paying discount points for a lower rate saves more over time. If you plan to sell or refinance within a few years, a higher rate with lower closing costs may be more economical. Our comparison tool helps you evaluate different rate scenarios.