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Home Loan Calculators

Mortgage or refinance

Get prequalified

Home equity

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Mortgage or refinance

Get prequalified

Home equity

Apply

Our home loan calculators can give you a good idea of what your monthly payments for a mortgage, refinance or home equity loan or line of credit might look like.

Today's mortgage rates for home purchase loans

30-year Glossary Term: fixed 5/1 Glossary Term: ARM  (variable)
Glossary Term: Rate 4.125% 2.875% for mortgage 5/1 ARM
Glossary Term: APR 4.232% 3.062%
Glossary Term: Points 0.113 0.216

Rates valid on 06/29/2015 05:00 PM ET. Chart data is for illustrative purposes only, assumes a borrower with excellent credit and is subject to change without notice. Accuracy is not guaranteed and products may not be available for your situation. Loan assumptions and disclosuresOpens in a new window. Monthly payment example 5/1 ARM interest rate and payment subject to increase after 5 years. Select the ARM interest rate for important information, including estimated payments and rate adjustments.

Sample monthly payments ($200,000 loan)

Today's refinance rates

30-year Glossary Term: fixed 5/1 Glossary Term: ARM  (variable)
Glossary Term: Rate 4.375% 3.000% for refinance 5/1 ARM
Glossary Term: APR 4.493% 3.094%
Glossary Term: Points 0.275 0.128

Rates valid on 06/29/2015 05:00 PM ET. Chart data is for illustrative purposes only, assumes a borrower with excellent credit and is subject to change without notice. Accuracy is not guaranteed and products may not be available for your situation. Loan assumptions and disclosuresOpens in a new window. Monthly payment example 5/1 ARM interest rate and payment subject to increase after 5 years. Select the ARM interest rate for important information, including estimated payments and rate adjustments.

Sample monthly payments ($200,000 loan)

What can your home equity do for you?

  • Home equity line of credit

    3.875%
    Variable APRFootnote
  • Get custom rates for home equity
    Go get rates for the selected state

Adjustable-rate mortgage (ARM)

A mortgage or home equity loan in which your interest rate and monthly payments may change periodically during the life of the loan, based on the fluctuation of an index. Lenders may charge a lower interest rate for the initial period of the loan. Most ARMs have a rate cap that limits the amount the interest rate can change, both in an adjustment period, and over the life of the loan. Also called a variable-rate mortgage.

Interest rate

Cost for the use of a loan, usually expressed as a percentage of the loan, paid over a specific period of time. The interest rate does not include fees charged for the loan. See also: annual percentage rate (APR).

Fixed-rate mortgage

A home loan with a predetermined fixed interest rate for the entire term of the loan.

Purchase price/sales price

The total amount paid by a buyer to a seller for the purchase of property.

Annual percentage rate (APR)

The annual cost of a loan to a borrower. Like an interest rate, the APR is expressed as a percentage. Unlike an interest rate, however, it includes other charges or fees (such as mortgage insurance, most closing costs, discounts points and loan origination fees) to reflect the total cost of the loan. The Federal Truth in Lending Act requires that every consumer loan agreement disclose the APR. Since all lenders must follow the same rules to ensure the accuracy of the APR, borrowers can use the APR as a good basis for comparing the costs of similar credit transactions.

Discount points

Typically, it’s an amount usually paid at closing to the lender in conjunction with a mortgage loan in order to lower or “buy down” the interest rate. One discount point equals one percentage point of the loan amount. For example, two points on a $100,000 mortgage would cost $2,000. Negative points reflect the amount that will be credited to you and reduce the amount of closing costs you will pay. Also called mortgage points or points.

How much should you put down?

If you put down at least 20% of the purchase price, you typically won't have to pay for private mortgage insurance (PMI). And when you put down more, you're more likely to qualify for lower interest rates. Putting down more money will likely save you more money over the life of the loan. Learn more about mortgage down payments.

Principal & interest only

Estimated monthly payment does not include taxes and insurance, which will result in a higher monthly payment. For borrowers with less than 20% down payment, mortgage insurance may be needed, which could increase the monthly payment and APR. Additional loan programs may be available.

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