How do I know which home buying option is right for me?

Home loan programs and rates change constantly. That's why we've teamed up with our friends at Quicken Loans to show you a list of options, so you can choose what fits your personal goals and lifestyle.

Current Mortgage Rates
Loan Type Rate APR
30-Year Fixed 3.99% 4.245%
15-Year Fixed 3.25% 3.671%
FHA 30-Year Fixed 3.625% 4.662%
VA 30-Year Fixed 3.625% 3.929%
VA 15-Year Fixed 3.25% 3.714%

Terms and conditions apply. Rates as of: 10:17PM (EDT) on 4/27/2017.

Current Mortgage Rates

Home Buying Offers

Mortgage Pre-Approval

  • Find out how much you can afford before you start looking
  • Get negotiating power with a stronger offer
  • Helps eliminate unpleasant surprises before closing
  • Personalized expert advice
  • The easiest way to get a home loan
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FHA Home Loan

  • Most popular for first-time homebuyers
  • Flexible qualification and credit requirements
  • Low down payment
  • Security of a government-insured loan
  • No pre-payment penalties
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Mortgage First

  • Get approved before you find a home
  • Complete the majority of the mortgage process before looking for a home - including underwriting
  • Position yourself as a strong buyer
  • Great choice for first-time and experienced home buyers alike
  • Second best thing to having cash in hand
  • Simple mortgage experience
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30-Year Fixed

  • Monthly payment that never changes
  • Ultra-low interest rate
  • Buy a home with as little as 5% down (primary home)
  • Loan amounts from $25,000 to $3,000,000
  • Payment varies based on your situation
  • No pre-payment penalties
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VA Loan

  • Exclusive benefit for active-duty military personnel, veterans and their families
  • Buy a home with no down payment
  • No monthly PMI (Private Mortgage Insurance)
  • No pre-payment penalties
  • Use your basic allowance for housing toward your monthly mortgage costs
  • Credit scores as low as 620 may qualify for VA loans
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15-Year Fixed

  • Pay less interest over the life of your loan
  • Consistent rate and payment
  • Pay off your mortgage faster
  • Top choice for the financially savvy
  • Payment varies based on your situation
  • No pre-payment penalties
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Adjustable Rate Mortgage (ARM)

  • Get the lowest mortgage rate available
  • Flexible loan options
  • Protection against sudden rate spikes
  • Payment varies based on your situation
  • No pre-payment penalties
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