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Mortgages · 13 guides · 3 calculators

Mortgages: rates, loan types and costs

Understand how mortgage rates are set, compare conventional, FHA, VA and USDA loans, and calculate the full monthly payment with taxes, insurance and PMI.

Figures from official sources · Checked 30 September 2026
7.03%30-year fixed mortgage rate
6.42%15-year fixed mortgage rate
$832,750Conforming loan limit (most areas)
$541,287 – $1,249,125FHA loan limit (floor – ceiling)
📈7.03%30-year fixed mortgage ra…
💵6.42%15-year fixed mortgage ra…
🏠LEARN SMARTER
🎯$832,750Conforming loan limit (mo…
✅$541,287 – $1,249,125FHA loan limit (floor – c…
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👋 Start here

Current mortgage rates: Freddie Mac weekly averageThe benchmark 30-year and 15-year fixed mortgage rates from Freddie Mac’s weekly survey, and what actually sets the rate you are offered.Types of mortgages: conventional, FHA, VA, USDA and jumboHow the main US mortgage types compare on down payment, mortgage insurance and who can get them.FHA loans in 2026: limits, down payment and mortgage insuranceThe 2026 FHA loan limits, the 3.5% minimum down payment and how FHA mortgage insurance works.

🔢 Key numbers

ItemFigureSource
30-year fixed mortgage rate7.03%Freddie Mac PMMS, week of 24 Sep 2026
15-year fixed mortgage rate6.42%Freddie Mac PMMS, week of 24 Sep 2026
Conforming loan limit (most areas)$832,750FHFA, 2026
FHA loan limit (floor – ceiling)$541,287 – $1,249,125HUD ML 2025-23, 2026
FHA upfront mortgage insurance1.75%HUD ML 2023-05
VA funding fee (first use, <5% down)2.15%VA, effective 7 Apr 2023
PMI ends automatically at78% of original valueCFPB / Homeowners Protection Act

Each figure links to the guide that explains it and lists the official source. Rates and limits change — always confirm with the source or provider.

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All mortgages guides

📄Current mortgage rates: Freddie Mac weekly averageThe benchmark 30-year and 15-year fixed mortgage rates from Freddie Mac’s weekly survey, and what actually sets the rate you are offered.📄Types of mortgages: conventional, FHA, VA, USDA and jumboHow the main US mortgage types compare on down payment, mortgage insurance and who can get them.📄FHA loans in 2026: limits, down payment and mortgage insuranceThe 2026 FHA loan limits, the 3.5% minimum down payment and how FHA mortgage insurance works.📄VA loans: benefits and the VA funding feeVA-backed loans for eligible veterans and service members: no down payment requirement, no monthly mortgage insurance, and a one-time funding fee unless you are exempt.📄USDA home loans for rural homebuyersThe USDA Section 502 Guaranteed Loan Program: 100% financing for low- and moderate-income buyers in eligible rural areas.📄Conforming vs jumbo loans: the 2026 loan limitsThe 2026 conforming loan limit is $832,750 in most of the country and up to $1,249,125 in high-cost areas. Loans above the limit are jumbo loans.📄Fixed-rate vs adjustable-rate mortgages (ARMs)A fixed rate never changes; an ARM starts with a fixed period and then adjusts. Here is how to think about the trade-off.📄Discount points and lender creditsPaying points lowers your interest rate; taking a lender credit lowers your upfront costs but raises the rate. Whether it pays off depends on how long you keep the loan.📄How much down payment do you need?Minimum down payments by loan type, and what a larger down payment does for your payment and PMI.📄Mortgage closing costs explainedWhat closing costs include, which you can shop for, and how to find them on your Loan Estimate.📄Refinancing a mortgage: when does it make sense?A lower rate is not enough — compare closing costs with monthly savings, and consider how long you will keep the loan.📄Prequalification vs preapproval vs Loan EstimateThree documents buyers mix up. What each one tells you and what it does not.📄Mortgage escrow accounts: what they are and why your payment changesEscrow spreads your property tax and insurance bills across your monthly payment. Here is how it works.

🧮 Calculators

🏠Mortgage calculatorPayment, schedule, extra payments🏠Mortgage Affordability CalculatorOpen calculator🎯Mortgage Points Break-Even CalculatorOpen calculator
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❓ Frequently asked questions

How much down payment do I need?

It depends on the loan type: conventional programs such as HomeReady allow as little as 3%, FHA as little as 3.5%, and VA and USDA loans can require no down payment for eligible borrowers. A 20% down payment on a conventional loan generally avoids PMI.

What is included in a monthly mortgage payment?

Principal and interest, plus property taxes, homeowners insurance and, if your down payment is under 20% on a conventional loan, PMI. Some borrowers also pay HOA dues. Our mortgage calculator includes all of these.

What is the difference between a fixed-rate and adjustable-rate mortgage?

A fixed rate stays the same for the whole term; an adjustable-rate mortgage (ARM) has a fixed initial period after which the rate can change, subject to caps.

How do I compare lenders?

Get Loan Estimates from several lenders on the same day for the same loan and compare the APR and the fees sections; lenders must give you the Loan Estimate within three business days of your application.

General information, not financial, tax or legal advice. See our editorial policy and disclaimer.