Mortgage Guides

Mortgage Guides — Homebuying, Refinancing & Home Equity | State Loan Rates
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Mortgage Guides

Everything you need to know about buying a home, refinancing, and using your home equity — written in plain English, not banker jargon. Use the calculators alongside each guide to run your own numbers.

📚 3 guide clusters 📈 Free calculators for every topic 📅 Updated June 26, 2026 🏠 Current 30-yr rate: 6.49%
Current rates:
30-yr fixed 6.49% 15-yr fixed 5.84% FHA 6.13% VA 5.77% HELOC 7.25%
All state rates ›
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Buying a Home

From checking your credit score to closing day — everything first-time and repeat buyers need. Start with the full Buying a Home guide for a complete roadmap.

Start here Guide Hub

Buying a Home — Complete Guide

The full roadmap: credit, pre-approval, down payment, loan types, closing costs, and what to expect on closing day.

Credit

What Credit Score Do You Need to Buy a House?

Minimum scores by loan type, how your score affects your rate, and how to improve it fast before applying.

Down Payment

How Much Down Payment Do You Need?

3%, 10%, or 20% — the trade-offs between each option and when putting less down actually makes sense.

Qualification

How to Qualify for a Mortgage

DTI limits, income documentation, employment history, and how lenders actually evaluate your application.

Market

Is Now a Good Time to Buy a House?

2026 market analysis — rates, inventory, affordability — and a framework for making the decision for your situation.

Rate Strategy

Mortgage Points Explained

When buying down your rate makes sense, how to calculate break-even, and when to skip points entirely.

Calculator

Rent vs Buy Calculator

Find your personal break-even year with opportunity cost, appreciation, and transaction costs factored in.

Calculator

Affordability Calculator

How much house can you actually qualify for? Uses the 28/36 DTI rule with your real income and debts.

Calculator

Closing Cost Calculator

Every closing fee itemized — the number that surprises most first-time buyers.

Coming soon State Programs

First-Time Homebuyer Programs by State

$5,000–$25,000 in grants and 0% down payment assistance — by state.

Coming soon Loan Types

FHA vs Conventional vs VA — Which Is Right for You?

Full comparison of the three most popular loan types for first-time buyers.

Coming soon Process

The Mortgage Process Step by Step

Pre-approval to closing — what happens at each stage and how long it takes.

Frequently Asked Questions

What mortgage rate can I get today?
The current national average 30-year fixed mortgage rate is 6.49% APR as of June 26, 2026, per Freddie Mac PMMS. Your actual rate depends on your credit score, down payment, loan type, and which lender you choose. A 740+ credit score and 20% down will get you the best available rate. Check our state-by-state rate pages for rates in your specific state.
How much house can I afford on my salary?
The standard guideline is that your monthly housing costs (mortgage, tax, insurance) should not exceed 28% of your gross monthly income, and all debts combined should not exceed 43%. On a $100,000 salary that means roughly $2,333/month for housing, which qualifies you for approximately a $350,000–$380,000 home at current rates. Use our affordability calculator to get your exact number, or see our salary-specific guides for $100K, $150K, and other income levels.
When is it worth refinancing your mortgage?
Refinancing typically makes sense when you can reduce your rate by at least 0.5–1.0%, plan to stay in the home long enough to recoup closing costs (usually 2–4 years), and the new loan doesn't significantly extend your payoff timeline. Use our refinance break-even calculator to find the exact month your savings exceed your costs. Read our full guide on when to refinance for a complete decision framework.
What is the difference between a HELOC and a home equity loan?
A HELOC is a variable-rate line of credit — you draw what you need, when you need it, and only pay interest on what you've drawn. Current average rate: 7.25%. A home equity loan is a fixed-rate lump sum — one payment, predictable monthly cost. Current average: 7.86%. HELOCs are better for ongoing expenses; home equity loans are better for one-time large purchases. Use our HELOC vs home equity loan calculator to compare total cost for your specific scenario.
How much down payment do I need to buy a house?
The minimum depends on loan type: FHA requires 3.5% (with 580+ credit score), conventional loans start at 3%, and VA loans require $0 down for eligible veterans. Putting down 20% eliminates PMI, which saves $100–$300/month on most loans. But 10% is often the optimal balance — it reduces your loan size significantly without draining your savings. Read our full down payment guide or use the down payment planner to find how long it takes to save your target amount.