Home Purchase Mortgage Calculators
Mortgage Program Calculators
FREEandCLEAR offers a wide range of mortgage rate products to meet your home financing needs. From FHA mortgages to HELOCs, we offer rate tables that enable you to easily compare interest rates and fees for leading lenders. Lowering your mortgage rate by only 0.125% can save you thousands of dollars over the life of your loan which is why shopping multiple lenders is one of the most important steps you can take when you get a mortgage. All of our mortgage rate tables enable to you to customize your search which makes it easy to compare loan terms and lenders. And none of our rate tables require personal information to use. Below we outline the mortgage products we cover -- simply click on a product to start shopping for your mortgage.
Compare mortgage rates and closing fees for leading lenders near you. Our mortgage rate tables enable you to personalize your search depending on loan amount, loan-to-value (LTV) ratio, credit score, discount points and other factors. You can also compare multiple mortgage products and loan terms to understand the difference in interest rates and monthly payments. Our lender tables make the mortgage comparison process more transparent and help you find the loan that is right for you.
You can use our refinance rate tables to review lenders in your area. Mortgage refinance rates tend to be slightly lower than the rates for home purchase loans which means you may be able to find better loan terms by comparing proposals from several lenders. There are many reasons to refinance including reducing your interest rate and monthly payment or changing your mortgage program. Review our refinance rate tables to determine how much money you can save.
The FHA mortgage program is popular because it enables you to buy a home with a down payment of only 3.5% and applies more flexible qualification guidelines. FHA mortgage rates also tend to be lower than interest rates on conventional loans, because the program is backed by the government. On the other hand, the FHA program requires that borrowers pay an upfront and ongoing FHA mortgage insurance premium which are added costs for borrowers. Use our FHA mortgage rate tables to compare FHA and conventional loans and to understand the total cost of an FHA mortgage.
The VA mortgage program enables eligible military personnel and veterans to purchase home with no down payment. The VA program also offers reduced mortgage rates because the program is insured by the government. While most borrowers are required to pay a one-time, upfront VA funding fee, there is no ongoing monthly insurance fee required by VA loans, which makes them an even more attractive financing option. Use our VA rate tables to shop VA lenders near you.
Jumbo mortgages exceed the conforming loan limit in your county. For 2018, the conforming loan limit is $453,100 for most counties although counties with higher housing costs may have higher loan limits. Jumbo mortgage rates are typically moderately higher than interest rates for conforming loans plus the borrower qualification guidelines for jumbo loans tend to vary more by lender. These factors mean that you typically see a wider variation in interest rate pricing and mortgage terms for jumbo loans which provides additional incentive to shop lenders. Use our jumbo mortgage rate tables to find the most attractive loan terms.
The mortgage rate on adjustable rate mortgages (ARMs) is typically fixed for the first three, five, seven or ten years of the loan and then subject to change annually or semi-annually over the remainder of the loan term. The initial interest rate for an ARM is usually lower than the interest rate for a fixed rate mortgage which enables you to qualify for a higher loan amount. The downside to an ARM is that your mortgage rate and monthly payment may increase over the course of the loan, which exposes borrowers to more risk. ARMs are great if you are only going to have the mortgage for a limited amount of time but you should always consider the positives and negatives when you select a mortgage program. Use our adjustable rate mortgage rate tables to compare the rates and fees for various lenders and ARM programs to see if this product is right for you.
With an interest only mortgage, you pay only interest and no principal during the initial interest only period of the loan, which is usually three, five, seven or ten years. After the interest only period, you pay both interest and principal for the remainder of the loan, plus your mortgage rate is usually subject change. The risk of an interest only mortgage is that your mortgage payment may increase significantly when you start paying principal, especially if your interest rate also increases. The advantage of an interest only mortgage is that your initial monthly payments are lower because you are not paying principal, which may may allow you to afford a higher mortgage amount. Interest only mortgages are considered the most risky loan program but may be appropriate for some borrowers. Use our interest only rate tables to compare mortgage terms for lenders in your area.
Thinking about buying a rental or investment property? Then be sure to check-out our non owner occupied rate tables to compare lenders that offer investment property loans. Non owner occupied mortgage rates are usually higher than interest rates for owner occupied loans and lenders may impose stricter qualification requirements including requiring a higher down payment or property equity if you are refinancing. Fewer lenders offer investment property loans which makes our non owner occupied lender tables more informative.
Our home equity loan and HELOC rate tables enable you to compare loan terms for multiple home equity products and lenders. Home equity loans usually offer borrowers a fixed rate while home equity lines of credit (HELOC) usually offer variable rates. Additionally, home equity loans enable you to borrow a fixed loan amount while a HELOC enables you to draw down, repay and then draw down the line of credit an unlimited number of times over the life of the loan. Home equity loans and HELOCs allow borrowers to access the equity in their homes more cost-effectively than a refinance although there may be a limit on loan size. Our home equity loan rate tables enable you to compare interest rates, fees and monthly payments for lenders near you.