Mortgage Optimizer
Compare lenders, rates, and terms to find the optimal mortgage for your situation.
Purchase Price
$625,000
Loan Amount
$500,000
First National Bank
fixed30yrStandard option with no points
Rate
6.75%
APR
6.9%
Monthly
$3,243
Total Interest
$667K
Savings/mo
—
Points: 0Closing: $8,500
Quicken Loans
fixed30yrBest overall value — rate buydown pays off in 3.2 years
Rate
6.5%
APR
6.75%
Monthly
$3,160
Total Interest
$638K
Savings/mo
+$83
Points: 1Closing: $12,000 Saves $996/year
Chase Mortgage
fixed15yrStandard option with no points
Rate
6.625%
APR
6.8%
Monthly
$4,390
Total Interest
$290K
Savings/mo
—
Points: 0Closing: $7,500
Best Rate
Navy Federal
arm30yrLowest initial payment — consider if planning to sell within 7 years
Rate
6%
APR
7.25%
Monthly
$2,998
Total Interest
$579K
Savings/mo
+$245
Points: 0Closing: $6,000 Saves $2,940/year
Rocket Mortgage
fixed30yrLowest rate but high upfront cost — ideal for long-term hold
Rate
6.375%
APR
6.55%
Monthly
$3,119
Total Interest
$623K
Savings/mo
+$124
Points: 2Closing: $15,000 Saves $1,488/year