P&I · Taxes · Insurance · PMI · Total
| Type | Avg Rate | Best For |
|---|---|---|
| 30-yr Fixed | 6.3-7.0% | Most buyers — predictable payments |
| 15-yr Fixed | 5.5-6.2% | Faster payoff, less interest |
| 5/1 ARM | 5.8-6.5% | If selling within 5 years |
| FHA | 6.0-6.8% | Low down payment (3.5%) |
| VA | 5.5-6.5% | Veterans — no down payment |
| Strategy | Savings |
|---|---|
| Larger down payment | Eliminates PMI at 20%+ |
| Better credit score | 0.5-1% lower rate |
| 15-yr vs 30-yr | Higher monthly but saves $100K+ interest |
| Shop multiple lenders | 0.25-0.5% rate difference |
| Buy points | Pay upfront for lower rate |