Comparison Tool

Compare Mortgage Lenders Side by Side

On a $300,000 loan, lender rates from 6.50% to 7.50% swing the 10-year cost by roughly $40,000, and upfront fees shift the ranking further. The cheapest lender is the one with the lowest combination of rate and fees over your planned hold, not just the lowest advertised rate. This tool ranks five lenders by total 10-year cost and shows each APR so you can see the real price including fees.

Results

Visualization

RateFig provides estimates for educational purposes only. Mortgage and loan figures depend on your credit, fees, points, and individual lender terms. This is not financial advice. Confirm every number with a qualified loan officer before making a decision.

How It Works

For each lender we compute the monthly payment at its rate, the total interest over the term, and the APR. APR solves for the rate whose present value of the payments equals the loan proceeds (principal minus upfront fees), so it captures both rate and fees in one number. We rank lenders by 10-year cost (120 payments plus fees), which is the right yardstick if you expect to refinance or move within a decade; over 30 years the lowest rate eventually dominates.

What Should You Do?

Get every quote on the same day, since rates move daily, and insist on the same loan type and points so the comparison is fair. A lender with a slightly higher rate but zero fees can beat a low-rate lender with big fees if you will not hold the loan long. Ask each lender for a written Loan Estimate and compare the APR column directly. Negotiate: tell lenders you are comparison shopping — they often sharpen their offer.

Frequently Asked Questions

Why does APR matter more than the rate?

APR folds upfront fees into the cost, so a low rate with high fees can be pricier than a slightly higher rate with low fees.

Should I always pick the lowest 10-year cost?

If you will refinance or move within 10 years, yes. If you stay 30 years, the lowest rate usually wins despite fees.

Are these five rates realistic?

They are placeholders. Enter the actual quotes you receive; the tool ranks whatever numbers you input.

What fees are included?

The optional fee inputs stand in for origination, discount points, and other lender charges paid at closing.

How many lenders should I check?

Three to five is plenty. More rarely changes the answer and adds paperwork.

Can I trust online advertised rates?

They are often teaser rates for ideal profiles. Your real rate depends on credit, loan size, and equity.