Mortgage Resources
From choosing a loan to comparing offers, find expert guidance and tools for every step of your homebuying journey.
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LendingTree’s guide to mortgage loans
Buying a home is a big financial decision, and the right mortgage can make your homebuying goals more attainable. Explore loan options and find practical tools and expert guidance to help you prepare for your purchase — all in one place.
Here are quick links to the resources on this page:
Explore loan types
Learn about conventional and government-backed mortgage programs to find out which may fit your homebuying goals.
Mortgage rates and market insights
Follow current mortgage rate trends and understand the factors that can affect your rate.
Tools and calculators
Estimate your mortgage payment, compare renting versus buying and plan for your next move.
Expert guides and advice
Learn about how to shop for a mortgage and navigate the different stages of the homebuying process.
Lender reviews and our top picks
Research mortgage lenders and explore borrower requirements.
Mortgage loan types
Compare options
Jumbo vs. conventional loans
Explore the differences between high-balance conventional loans and jumbo loans.
Home Possible® vs. HomeReady®
Compare two low-down-payment conventional loan programs. Both only require 3% down, but one offers more credit score flexibility.
Rent vs. buy: Which saves you money?
Explore the factors that go into a decision about renting versus buying a home.
Mortgage rates
are averaging:
7.45%
are averaging:
6.23%
Mortgage market insights
- Home affordability is fairly low, as home prices and interest rates remain elevated.
- Nationwide, the vast majority of metro areas are currently buyer’s markets.
- Comparison shopping can save buyers more than $62,500, according to a LendingTree analysis.
Explore this month’s mortgage rate predictions.
Mortgage Rate Trends
Rate trend chart
Rate summary
| Loan Type | Avg. APR | 3 Month Diff. |
|---|---|---|
| 30 Year Fixed | 7.67% | 0.95% |
| 15 Year Fixed | 6.74% | 0.64% |
| 5/1 ARM | 7.12% | 0.34% |
LendingTree mortgage calculators
LendingTree expert guides
LendingTree mortgage studies and reports
A statistical bird’s eye view of the U.S. mortgage market.
LendingTree top mortgage lender picks
Mortgage lenders reviewed by LendingTree
Ready to compare?
How to get banks to compete for your business with LendingTree
Shopping for a home loan shouldn’t mean filling out tons of applications. With one form, compare rates from our network of vetted mortgage lenders — when banks compete, you win.
1. Tell us what you need
Take two minutes to tell us about yourself, your home and when you need the loan.
2. Shop your offers
If you qualify, we’ll send you offers from up to five lenders from the nation’s largest lender network.
3. Buy your home
You’ll choose the lender that fits your budget and needs and send in a formal application. They’ll loan you the money for your home if you’re approved.
Frequently asked questions
The mortgage type that’s best for you comes with payments that fit your budget, a manageable down payment and a competitive interest rate. Comparing loan types and offers from multiple lenders can help you find the right fit and put you in the driver’s seat, as you get to review your options and choose the best offer for you.
How much you can afford is a very personal decision. Don’t assume that, if a lender has approved you for a certain dollar amount, it means you can afford that amount. A loan that you can comfortably afford may land you anywhere between a 15% and 50% debt-to-income (DTI) ratio, and most lenders set their maximums around 50%.
The minimum down payment you’ll need for a conventional or FHA loan is 3% to 10%, but in some cases you may qualify for a zero-down VA or USDA loan.
Lenders can set their own credit score floor, so minimums vary by lender. However, for conventional loans, you typically need a 620 score.
For FHA loans, you can get by with a score as low as 500 if you can make a 10% down payment. Otherwise, you’ll need at least a 580.
VA and USDA loans don’t come with set minimums, but 620 to 640 is a common cutoff and it’s unusual to find a lender that will go below 500.
To get preapproved for a mortgage, you’ll have to submit financial information — documents such as pay stubs, W-2s, bank statements and a credit report — to a lender. You can do this online and you can be preapproved in just a few minutes, hours or days, depending on the lender.
You can request quotes or fill out applications with individual lenders. It’s important that you request all your quotes on the same day, as interest rates change quickly. That way, it’s an apples-to-apples comparison. LendingTree makes it easy to do this, as you can fill out your information once and send it off to multiple lenders.