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Explore interest rates

Use the examples below to explore the dollars-and-cents impact of different mortgage interest rates. Knowing your options and what to expect helps you get a mortgage that is right for you.

Compare scenarios

See the effect on your interest rate and short-term and long-term costs when you change your credit score, down payment, loan term, and loan type.

The examples assume you want to purchase a single-family house priced at $400,000 to be your primary residence. The rates quoted assume (unless specified differently) a 10% down payment, 700 credit score, conventional loan type, 30-year fixed term, -0.5 to 0.5 discount points and a 60-day rate lock.

Check current mortgage loan interest rates

Check the average rates for 30-year and 15-year mortgages at Freddie Mac , a government-sponsored corporation that supports the mortgage business. You can get an idea of the interest rates you might expect to be offered, as you shop around.

Credit score of 625

Loan offers could range from 6.125% to 8.875%

  • At the highest, you pay $156,687 in interest in the first 5 years
  • At the highest, you pay $671,156 in interest over 30 years

Credit score of 700

Loan offers could range from 5.875% to 8.125%

  • At the lowest, you pay $102,246 in interest in the first 5 years
  • At the lowest, you pay $406,633 in interest over 30 years

Your higher credit score saves you up to $264,523 over the life of the loan.

Take note:

  • Applying with a higher credit score means you generally are offered more affordable loans (that is, lower interest rates)
  • Applying with a higher credit score also means you generally have more lenders to choose from

10% down payment, $360,000 loan amount

Loan offers could range from 5.875% to 8.125%

  • At the highest, you pay $143,020 in interest in the first 5 years
  • At the highest, you pay $602,276 in interest over 30 years

25% down payment, $300,000 loan amount

Loan offers could range from 5.750% to 8.125%

  • At the lowest, you pay $83,330 in interest in the first 5 years
  • At the lowest, you pay $330,259 in interest over 30 years

Adding $60,000 to your down payment saves you up to $272,017 over the life of the loan.

Take note:

  • Making a higher down payment typically lowers your interest rate and reduces the amount of the loan
  • This means that a higher down payment saves you a lot of money in borrowing costs

30-year fixed mortgage

Loan offers could range from 5.875% to 8.125%

  • At the highest, you pay $143,020 in interest in the first 5 years
  • At the highest, you pay $602,276 in interest over 30 years

15-year fixed mortgage

Loan offers could range from 5.000% to 7.500%

  • At the lowest, you pay $79,217 in interest in the first 5 years
  • At the lowest, you pay $152,434 in interest over 15 years

Compressing your payments to 15 years saves you up to $449,842 over the life of the loan.

Take note:

  • Choosing a shorter loan term generally means you are offered a lower interest rate, because there is less risk to the lender
  • Choosing a shorter loan term means a higher monthly payment, but less of each payment goes to interest and more to building equity

Conventional loan

Loan offers could range from 5.875% to 8.125%

  • At the highest, you pay $143,020 in interest in the first 5 years
  • At the highest, you pay $602,276 in interest over 30 years

VA or FHA loan

Loan offers could range from 5.375% to 7.875%

  • At the lowest, you pay $93,256 in interest over the first 5 years
  • At the lowest, you pay $365,723 in interest over 30 years

Qualifying for a VA or FHA loan saves you up to $236,553 over the life of the loan.

Take note:

  • If your personal situation qualifies, loans from VA, USDA, or FHA can offer lower interest rates
  • For a VA loan, you generally need to be a U.S. military veteran, servicemember, or surviving spouse
  • FHA loans can be less expensive than conventional loans for borrowers with lower credit scores and a down payment of less than 10 – 15%

Negotiate with your lenders

Interest rate is important, but it’s not the only cost of a mortgage. Fees, points, mortgage insurance, and closing costs all add up. Compare Loan Estimates to get the best deal.

About our data source

The lenders in our data include a mix of large banks, regional banks, and credit unions. The interest rates used in this tool reflect data from April 1, 2025. The data was provided by Curinos , New York, NY. Curinos collects data directly from lenders and every effort is made to collect the most accurate data possible, but they cannot guarantee the data’s accuracy.

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