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SRK CAPITAL RateFinderâ„¢
Precision mortgage pricing powered by real-time interest rates
A small difference in your mortgage interest rate can save you thousands on your monthly mortgage payment. Don't settle for generic quotes - your actual rate depends on your unique profile: credit score, debt to income ratio, and which types of loans you qualify for. Whether the Federal Reserve raises or lowers rates, we'll find you the best fixed rate or adjustable option from the many types of loans SRK CAPITAL offers.
See exactly how rates, APRs, and annual percentage rates affect your wallet. Discover if buying discount points makes sense for you, or if you should rate lock today before rates change. Unlike other lenders who require email or personal details, we show you everything - your actual rate, total costs, and monthly payment - without the hassle. Get your personalized quote now and see why you should choose SRK CAPITAL.
Loan Details
Loan Structure
Property Details
Loan-to-Value (LTV)
80.00%
Down Payment
$100,000
Down Payment %
20.0%
Have Questions?
Our mortgage experts are here to help you find the perfect loan
What Are Mortgage Interest Rates?
Understanding how rates work can save you thousands over the life of your loan
A mortgage interest rate is the cost of borrowing money to buy a home, expressed as a percentage of your loan amount. When you take out a mortgage, you agree to pay back the principal (the amount you borrowed) plus interest over a set period, typically 15 or 30 years.
Interest Rate
The base cost of borrowing money, shown as a percentage. This determines how much you pay in interest each month on your remaining loan balance.
APR (Annual Percentage Rate)
Includes the interest rate plus other costs like origination fees, discount points, and mortgage insurance. APR gives you a complete picture of total borrowing costs.
How Rates Affect Your Payment
Example: $400,000 loan with a 30-year term
| Interest Rate | Monthly P&I | Total Interest Paid |
|---|---|---|
| 6.00% | $2,398 | $463,353 |
| 6.50% | $2,528 | $510,137 |
| 7.00% | $2,661 | $558,036 |
Important Rate Information
Rates shown are for illustrative purposes only. Your actual rate depends on credit score, down payment, loan amount, and other factors. Use our calculator above to see personalized rates based on your specific situation.
Understanding Different Rate Types
Choose the right mortgage type based on your financial goals and how long you plan to stay in your home
Fixed-Rate Mortgages
Your interest rate stays the same for the entire loan term. This means predictable monthly payments and protection from rate increases.
- Predictable monthly payments
- Protected from rate increases
- Best for long-term homeowners
- Available in 10, 15, 20, 25, 30-year terms
Adjustable-Rate Mortgages (ARMs)
Your rate is fixed for an initial period (usually 5, 7, or 10 years), then adjusts periodically based on market conditions.
- Lower initial rates than fixed
- Good if you plan to move/refinance
- Rate caps limit how much it can change
- Popular options: 5/1, 7/1, 10/1 ARMs
Government-Backed Rates
FHA, VA, and USDA loans are insured by the government, often offering competitive rates with lower down payments.
- FHA: Low down payment (3.5%)
- VA: No down payment for veterans
- USDA: No down payment for rural areas
- Often lower credit score requirements
Jumbo Loan Rates
For loan amounts exceeding conforming limits ($766,550 in most areas for 2024). Rates are typically slightly higher.
- For high-value properties
- Rates 0.25-0.5% higher typically
- Higher credit score requirements
- Larger down payments often required
Rate Type Disclosure
Each loan type has different qualification requirements and rate structures. ARM rates are subject to adjustment after the initial fixed period based on market index plus margin. Government-backed loans require mortgage insurance premiums. Consult with a loan officer to determine which option best fits your situation.
Factors That Affect Your Rate
Your mortgage rate isn't just determined by the market—your personal financial situation plays a major role
1Credit Score
Your credit score is one of the biggest factors. Borrowers with scores above 740 typically get the best rates. Scores between 680-739 are considered good, while scores below 680 may result in higher rates or require government-backed loans like FHA.
2Down Payment / Loan-to-Value (LTV)
A larger down payment means lower risk for lenders, which often translates to better rates. Putting down 20% or more also helps you avoid private mortgage insurance (PMI), saving you money each month.
3Loan Term
Shorter loan terms (like 15 years) typically have lower rates than longer terms (30 years). While monthly payments are higher with shorter terms, you'll pay significantly less interest over the life of the loan.
4Property Type & Occupancy
Primary residences typically get the best rates. Investment properties and second homes usually have higher rates due to increased risk. Condos and multi-family properties may also have rate adjustments.
5Debt-to-Income Ratio (DTI)
Your DTI compares your monthly debt payments to your gross income. Most lenders prefer DTI below 43%, and lower ratios may qualify you for better rates. This includes your future mortgage payment.
6Points & Lender Credits
You can adjust your interest rate by paying discount points upfront or taking lender credits for a higher rate but lower closing costs.
Discount Points (Cost Money)
Pay upfront to lower your rate. Each point costs 1% of your loan amount and typically reduces your rate by ~0.25%. Best if you plan to keep the loan long-term to recoup the cost.
Lender Credits (Get Money Back)
Accept a higher rate in exchange for credits toward closing costs. Shown as negative points in your rate quote. Best if you want to minimize upfront costs or plan to refinance soon.
Points and Fees Disclosure
Discount points are optional and represent prepaid interest. Each point equals 1% of the loan amount. Lender credits appear as negative points and reduce closing costs but result in a higher interest rate. The tradeoff between points/credits and rate is disclosed in accordance with Regulation Z. Your loan officer can help you determine the best option based on your financial goals.
Frequently Asked Questions
Get answers to the most common questions about mortgage rates
A good mortgage rate depends on your credit score, down payment, and loan type. Generally, rates within 0.25-0.5% of the national average are considered competitive. Use our rate calculator above to see personalized rates based on your specific situation - no email or phone required.
Mortgage rates change daily, sometimes multiple times per day. Rates are influenced by the Federal Reserve, bond markets, economic indicators, and inflation data. Our rates are updated daily to reflect current market conditions.
The interest rate is the base cost of borrowing money. The APR (Annual Percentage Rate) includes the interest rate plus other loan costs like origination fees, points, and mortgage insurance. APR gives you a more accurate picture of your total borrowing cost.
Fixed rates offer predictability and protection from rate increases, making them ideal if you plan to stay in your home long-term. Adjustable rates (ARMs) start lower but can change after the initial period - these work well if you plan to move or refinance within 5-10 years.
To get the lowest rate: 1) Improve your credit score (740+ gets the best rates), 2) Make a larger down payment (20%+ avoids PMI), 3) Choose a shorter loan term (15-year vs 30-year), 4) Compare multiple lenders, and 5) Consider paying points to buy down your rate.
Not at SRK CAPITAL! Unlike most mortgage websites, we show you real, personalized rates without requiring your email, phone number, or any personal information. Our AI-powered rate calculator gives you instant results with full transparency.
Minimum credit scores vary by loan type: Conventional loans typically require 620+, FHA loans accept 580+ (or 500+ with 10% down), VA loans have no minimum but lenders often want 620+, and Jumbo loans usually require 700+. Higher scores always qualify you for better rates.
For every 1% increase in your interest rate, your monthly payment increases by roughly 10-12%. On a $400,000 loan, the difference between 6% and 7% is about $263/month, or $94,680 over 30 years.
Additional Questions?
Have a question not answered here? Use our AI assistant or contact a licensed loan officer for personalized guidance. All information provided is for educational purposes and does not constitute financial advice. NMLS# 2043372.
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