The rates displayed are for informational purposes only and are subject to change without notice. Actual rates may vary based on credit score, loan amount, and other factors. Please contact your loan officer for personalized rate options and current terms.
This is not a commitment to lend or extend credit.
Q1 - What are the mortgage rates today?
Mortgage rates can vary depending on a number of factors, including your credit score, loan type, down payment amount, and the overall market conditions. To provide you with the most accurate rate for your specific situation, I’d recommend a quick conversation to gather a bit more information about your needs and financial profile.
If you’d like a general idea of today’s rates, this page displays today's mortgage rates based on average market trends. Keep in mind that rates can change daily, sometimes even within the same day.
Q2 - How do I get the best mortgage rate?
Securing the best mortgage rate can save you thousands over the life of your loan. Here are some actionable tips to help you get started:
1. Improve Your Credit Score
Your credit score is one of the most significant factors lenders consider. To boost your creditworthiness:
- Pay down existing debts.
- Avoid taking on new credit before applying.
- Check your credit report for errors and dispute inaccuracies.
2. Lock in Your Rate
Mortgage rates can fluctuate daily. Once you find a rate you’re comfortable with, ask your lender about rate lock options to secure it while you finalize the details.
3. Choose the Right Loan Program
Different loan programs (e.g., fixed-rate, adjustable-rate, FHA, VA) come with varying interest rates. Work with your lender to evaluate the best fit for your needs.
4. Consider Mortgage Points
If you plan to stay in your home for a long time, buying mortgage points (paying an upfront fee) can lower your interest rate.
5. Work With a Trusted Mortgage Professional
Navigating the mortgage process can feel overwhelming. Our team is here to guide you every step of the way. With our expertise, you’ll get personalized advice tailored to your unique goals. Contact Us to Get Started
Q3- Which lender has the best mortgage rate?
With hundreds of mortgage companies to choose from, comparing every lender’s rates is overwhelming—and nearly impossible. While getting a great rate is important, it’s equally critical to understand that lenders advertising the lowest rates may not always operate with the highest integrity. Hidden fees, misleading terms, or poor service can turn a seemingly “low-rate deal” into a costly mistake.
That’s why it’s essential to look beyond just rates. A lender’s reputation, customer reviews, and transparency matter just as much—if not more—than their advertised numbers. Trustworthy lenders with strong ratings and positive feedback are more likely to provide clear terms, consistent communication, and a smoother overall experience.
Additionally, understanding your options is key to making an informed decision. The right mortgage program for your unique financial situation can save you far more over time than simply chasing the lowest rate. An experienced mortgage professional can help you navigate these options, uncover hidden savings opportunities, and select a program that aligns with your long-term goals.
Ultimately, your choice of lender should empower you with clarity, trust, and confidence—not just an attractive rate on paper. By focusing on the big picture, you’ll ensure a more rewarding homeownership journey.
Select The Type of Mortgage That Fits Your Needs
Buying a house is a significant financial decision, and getting a mortgage is integral to the process. In 2025, different loan programs are available, each with its own benefits and requirements. Here's an overview of the different types of mortgage loans and programs available.
Conforming Loans: These loans conform to the guidelines set by Freddie Mac and Fannie Mae, which are government-sponsored entities. In 2025, the maximum loan limit for conforming loans is $766,550 (base loan limit) for a single-family home. Some high-cost counties allow loan limits as high as $1,149,825 (high balance loan limit) for 1-unit properties. The minimum down payment requirement for a base loan limit is only 3% for first-time home buyers, and for high-balance loans, you can get a loan for as low as 5%.
FHA Loans: These loans are insured by the Federal Housing Administration and are designed for borrowers who may have a lower credit score or a smaller down payment. In 2025, the maximum loan limit for FHA loans is $498,257 (base loan limit) for a 1-unit property. Some high-cost counties allow loan limits as high as $1,149,825 for 1-unit properties. The minimum down payment requirement for an FHA loan is only 3.5% A recent reduction in FHA’s mortgage insurance premium has made this loan program cheaper for 2025 homebuyers.
VA Loans: These loans are guaranteed by the Department of Veterans Affairs and are available to eligible veterans and active-duty service members. VA loans often offer more favorable terms than conventional loans, including no down payment requirement and no private mortgage insurance (PMI) requirement. There is a funding fee (unless you are exempt) which can be added to the loan amount. These loans do not have any maximum loan limits as long as you can qualify. InstaMortgage recently closed a $3M VA loan with a 0% down payment. VA also reduced its funding fee for borrowers buying homes in 2025 putting more than a 5% down payment.
Jumbo Loans: These loans exceed the conforming loan limits set by Freddie Mac and Fannie Mae. Jumbo loans often require a higher down payment and stricter credit requirements than conforming loans. They also require significant reserves, the amount of assets you should have in your bank (or brokerage) account even after paying for the down payment and closing costs.
Now let's talk about different types of mortgage loans available for homebuyers in 2025.
30-Year Fixed-Rate Mortgage: This is the most common type of mortgage loan. The interest rate and monthly payments remain the same over the 30-year loan term, which can provide stability and predictability for homeowners. However, the interest rate for a 30-year fixed-rate mortgage is usually higher than for shorter-term loans.
15-Year Fixed-Rate Mortgage: This type of mortgage loan has a shorter loan term of 15 years, which means the borrower will pay off the loan faster and pay less interest over the life of the loan. The interest rate for a 15-year fixed-rate mortgage is usually lower than for a 30-year fixed-rate mortgage, but the monthly payments will be higher.
Adjustable-Rate Mortgage (ARM): This type of mortgage loan has an interest rate that can change over time, usually after an initial fixed-rate period. The interest rate can go up or down based on market conditions. ARMs can be a good choice for borrowers who expect to move or refinance before the interest rate adjusts.
Getting a Mortgage with a Work Visa or EAD in 2025: Most loan programs mentioned above are also available to borrowers with work visas like H1B, L1A, L1B, O, or TN visas. Borrowers with several different categories of Employment Authorization Document (EAD) are also eligible. However, you need to work with loan officers and lenders who are well-versed in such visa types to help you choose the right program that you will qualify for. At InstaMortgage, we have helped hundreds of non-permanent residents qualify for mortgage loans, some even with less than 2 years of US work and credit history.
In conclusion, many different mortgage loan programs and types are available in 2025, each with its own benefits and requirements. It's important to do your research and compare different loan options to find the one that best fits your financial situation and goals. At Instamortgage, with our competitive rates, digital-first approach, and legendary service, we can help you navigate the process and find the right loan for you.
Should I Lock My Mortgage Rates Today?
Mortgage rates can change at any time. Just as stocks are traded on Wall Street and can change in value at any time when the trading is open, mortgage rates are impacted by the yield on mortgage bonds (called Mortgage-Backed Securities, or MBS in short) that are traded on Wall Street. The price of mortgage bonds is impacted by various macro and microeconomic factors. Think geo-political tensions, employment and inflation reports, and a myriad of other news. Also, unlike the popular view, the Fed's fund rates do not directly impact mortgage rates.
This is why it's nearly impossible for someone to predict mortgage rates with any kind of confidence. Hence, it's usually risky not to lock your mortgage rates, especially if your loan is closing in the next 30 days and you have very little wiggle room. If you get a rate quote that seems fair and you qualify with those rates and fees, locking your mortgage rates is strongly recommended. Even when the projection is for mortgage rates to drop because of the market conditions today, they can change overnight, and the rates could actually end up higher.
The good news is that if the rates were to fall in the future after you have locked or closed your mortgage, your Loan Officer should be able to alert you of a refinancing opportunity.