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Mortgage rates
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Fixed Rate Mortgage Comparison
Obtaining a mortgage involves shopping around for interest rates and terms. Lenders can vary the interest rates and points making the actual real cost of a loan difficult to determine. This application, Fixed Rate Comparison, helps by calculating a comparable payment for each loan for similar terms. All points and origination fees are added to the amount of the loan and, using the same term, a comparable payment is calculated. You can then determine which payment is the lowest and therefore the best. Secondly, you can determine whether it is better to pay additional points to receive a lower interest rate (buy down) or assume a higher interest rate with little or no points.
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