|3-month trend||30-year fixed||15-year fixed||5/1 ARM||30-year jumbo|
What is a good rate on a mortgage?
While what qualifies as a good mortgage rate is up for interpretation, a good rate would be one that is at least equal to the average rate for the mortgage type. Ideally, a good mortgage rate should be lower than the average rate. Find out how you can snag the best mortgage rate.
What is the APR on a mortgage?
The APR, or annual percentage rate, on a mortgage reflects the interest rate, as well as other costs such as broker fees, discount points and some closing costs. The APR is expressed as a percentage. Learn more about a mortgage’s APR, and how it differs from the interest rate.
What is the best credit score to get a mortgage?
A 760 credit score or higher generally will qualify you for the best mortgage rates. However, you don’t need excellent credit to qualify for a mortgage. It’s difficult but possible to get a mortgage with a credit score under 620. Find out more about how your credit score affects your mortgage rate.