Home Loans
Learn About Home Loans
Mortgages can feel complex. These guides break down the most important concepts in plain language.
How mortgage rates are set
Mortgage rates reflect a mix of bond market trends, lender margins, and your individual risk profile (credit, LTV, DTI, occupancy, and loan type). Two borrowers on the same day may receive different quotes.
The total cost of homeownership
- Principal and interest (P&I)
- Property taxes and homeowners insurance
- Mortgage insurance (PMI, FHA MIP, VA funding fee)
- HOA dues, maintenance, and utilities
- Closing costs at purchase and refinance
Common loan programs
- Conventional (Fannie/Freddie conforming or jumbo)
- FHA — lower down payment, mortgage insurance for the loan life in many cases
- VA — eligible service members; no down payment in many cases
- USDA — eligible rural areas
Where to go next
Explore home loan options tailored to your criteria
Based on your home price, location, income, credit range, down payment, and goals, Finance Choices can help you compare mortgage, refinance, home equity, FHA, VA, and other home loan options from relevant partners.
Disclosure: Finance Choices may be compensated by advertisers or partners featured on this page. This may influence placement, but it does not guarantee approval, rates, savings, or results. Submitting your information authorizes Finance Choices and its partners to match you with relevant providers. Finance Choices is not a lender, insurer, debt relief provider, credit repair company, or financial advisor.