Today's Mortgage Rates— Explained Simply
Real rates from trusted sources. Your actual rate depends on your credit, down payment, and property details.
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Frequently Asked Questions
Notes for H1B & immigrant buyers
Can H1B borrowers get these rates?
Yes. Conventional, FHA, and jumbo loans are all available to H1B holders. Lenders evaluate your US income, W-2 history, credit score, and employment stability — not your visa type. Rate differences are minimal with complete documentation.
When to lock your rate
Lock as soon as your offer is accepted if rates are rising. If flat, a float-down option gives flexibility. Most locks run 30–60 days. H1B files sometimes take longer in underwriting — ask for a 45-day lock minimum.
Refinance triggers to watch
Refinancing makes sense when the new rate is at least 0.75% lower and you plan to stay 3+ more years. A refinance review 12–18 months after closing is common after green card approval or credit improvement.
NRI & ITIN buyer notes
With an ITIN instead of SSN, you are limited to specific lenders offering Non-QM loans. Down payments are typically 15–25% with slightly higher rates. See the NRI guide for specifics.
Plain English: terms that matter
APR
Annual Percentage Rate. Broader than the interest rate — it includes fees and points. Use APR to compare real total cost across lenders.
Points
Prepaid interest. 1 point = 1% of loan amount paid upfront to lower your rate. Worth it if you plan to stay 5+ years.
PMI
Private Mortgage Insurance. Required when your down payment is under 20% on a conventional loan. Typically 0.5–1% of the loan per year.
Pre-approval
A lender has reviewed your income, credit, and assets and issued a conditional loan commitment. Stronger than pre-qualification in seller negotiations.
Jumbo loan
A loan above conforming limits (~$806,500 in most MA counties for 2025). Requires higher credit score, larger reserves, and 10–20% down.
ITIN loan
A mortgage for buyers who have a US Individual Taxpayer Identification Number but no Social Security Number. Available from select portfolio lenders.
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Disclaimer: Mortgage rates are subject to change without notice. All loan programs require credit approval, income verification, and property appraisal. Rates shown are for informational purposes only and may not reflect your actual eligible rate. This is not a loan application or commitment to lend.