Compare Loan Rates

The amount of money being borrowed, calculated by subtracting the down payment from the purchase price (e.g. Purchase price = $300, 000; Down payment = $100, 000; Loan amount = $200, 000), and adding the upfront FHA mortgage insurance premium that is included in the total loan amount.

Total Loan Amount

The amount of money being borrowed, calculated by subtracting the down payment from the purchase price (e.g. Purchase price = $300, 000; Down payment = $100, 000; Loan amount = $200, 000), and adding the upfront VA funding fee that is included in the total loan amount.

Third Party Fees

The third party services fees are settlement charges that are not paid to the lender. These fees are paid to external service companies for things such as:

• Appraisal
• Title insurance
• Recording charges
• Transfer taxes
• Escrow
• Interest
• Homeowners insurance

These fees are estimates and can vary depending on the company. Typically lenders will recommend providers for you but you can shop around to save money. Follow up with the lender to get a full list of closing costs.

Est. Mortgage Insurance

If you put down 20% or more when you took out your current mortgage, you may not be subject to mortgage insurance if you refi through the HARP program. Ask your lender for more details about your situation.

True Cost

True Cost is our recommended way to begin comparing quotes. True Cost allows you to:

• Compare quotes by incorporating Rate, Fees, Loan Program, and Points into one number.
• View the interest and fees due over different periods of time.
• Find the least expensive loan for your expected timeframe.

True Cost may not include third-party fees such as title insurance, which may increase the cost of the loan.

The interest rate is the yearly rate charged by a lender to a borrower in order for the borrower to obtain a loan. This is usually expressed as a percentage of the total amount loaned. Note that rates may increase for adjustable rate mortgages.

Annual percentage rate (APR) is the cost of credit expressed as a yearly rate. The APR includes the interest rate, points, lender fees, and certain other financing charges the borrower is required to pay. Using APR to compare quotes is helpful because it takes into account both the interest rate and financing fees. The APR is calculated by Zillow.

Confirmed Lender

Zillow confirms through the NMLS that lenders are licensed to originate mortgage business in the state(s) they are quoting in before they are allowed to participate in the marketplace.

Accuracy Promise

Zillow's Quality Assurance (QA) team "mystery shops" lenders to ensure they are honoring their quotes. Also, users can flag quotes for Zillow's QA team to investigate and review their experiences with lenders.

Interesting facts

• Typical rates are a statistical calculation and correspond to the rate offered to at least 66% of Accepted applications. However, when one considers that only around 1 in 4 applications are actually accepted, the vast majority of borrowers won't be eligible for the typical rate they applied for.
  Most loan comparisons are currently based on...
• Mortgage calculators are used to help a current or potential real estate owner determine how much they can afford to borrow on a piece of real estate. Mortgage calculators can also be used to compare the costs, interest rates, payment schedules, or help determine the change in the length of the mortgage loan by making added principal...