Your rate is personal — here’s how it’s set.
There’s no single “today’s rate” that’s true for everyone. Your rate depends on you, your loan, and the market that day. Here’s what moves it — and how to get a real number for your situation.
Why we don’t post one big rate
You’ve seen lenders advertise a single eye-catching rate. The catch: it usually assumes a picture-perfect borrower — top-tier credit, a large down payment, points paid up front — that may look nothing like your situation. When the fine print unwinds, the number changes.
We’d rather show you an honest, personalized quote. A licensed loan officer prices your scenario against current market conditions and walks you through the trade-offs — rate versus points, term versus payment — so the number you see is a number you can actually get.
Checking your rate starts with a soft inquiry that doesn’t affect your credit score. A full application later involves a hard credit pull, which your officer will explain first.
Seven things that move your number.
Small changes in any of these can shift your rate and your monthly payment. Your officer helps you tune them.
Credit profile
Stronger credit generally earns pricing that’s more favorable. We’ll show you where you stand and what helps.
Down payment / LTV
How much you put down changes your loan-to-value ratio — a key input to both your rate and whether mortgage insurance applies.
Loan type & term
Conventional, FHA, VA, USDA, and jumbo price differently, and a 15-year term usually carries a different rate than a 30-year.
Property & occupancy
A primary home, a second home, and an investment property are priced differently — as are condos, multi-unit, and manufactured homes.
Points & credits
You can pay “points” up front to lower your rate, or take a higher rate for lender credits toward closing costs. It’s a trade-off we’ll math out with you.
Market conditions
Mortgage rates move with the bond market — sometimes daily. The rate you’re quoted reflects the market at that moment.
Rate lock
Locking holds your rate for a set window while you close, protecting you if the market moves. Your officer helps you time it.
Rate vs. APR — read both
Your interest rate is what you pay on the loan balance. The APR (annual percentage rate) folds in certain fees and points, so it’s a fuller picture of the loan’s cost — and the number that makes two offers comparable. Always compare APR to APR, not rate to rate.
How rate and APR relate
A simplified teaching example, not an offer, quote, or current market rate.
Assumptions for this illustration: $400,000 loan amount, 80% loan-to-value (20% down), 760 credit score, owner-occupied single-family primary residence, 0 discount points, with example lender/third-party fees financed into the APR. Figures are rounded for teaching and do not reflect any specific borrower, program, or point in time.
Rates and APRs shown are examples, not an offer or commitment to lend; your actual rate depends on your specific situation and market conditions and changes daily. Contact a licensed Loanatik loan officer for a personalized quote.
Common rate questions.
Should I pay points to buy down my rate?
How long can I lock my rate?
Why did the rate I was quoted change?
Does checking my rate hurt my credit?
Get a real rate for your real situation.
Answer a few quick questions — no impact to your credit to check — and a licensed officer in your state follows up with honest numbers.