Start mortgage application
Apply with our online application or call us at (800) 968-5844.
Request realty service
Consult our top-rated agents.
*All rates are subject to change without notice and are shown for a 30-day lock. Unless otherwise indicated, rates apply for a primary residence and assume escrow of property taxes, homeowner’s insurance, and, if required, flood insurance. Other loan programs, terms, and rates may be available.
*Refinance and Cash-out Refinance APR Assumptions: 55% loan-to-value (LTV)
*Jumbo Program APR Assumptions: Purchases: 70% loan-to-value (LTV)
*FHA Program APR Assumptions: (1) Purchases: 96.5% loan-to-value (LTV), (2) Regular refinance: origination as FHA Streamline loan
*VA Program APR Assumptions: (1) Purchases: 100% LTV, first-time VA loan applicant, (2) Regular refinance: origination as Interest Rate Reduction Loan (IRRRL), (3) Cash-out refinance: prior use of a VA-backed loan
*Home Equity Loan APR Assumptions: 70% combined loan-to-value (CLTV)
Important additional information about RatesUse our Mortgage Rates calculator to find the best rate for you and your current situation, whether you're buying or refinancing.
Loan purpose: Start by selecting which type of loan you are looking for - purchase, standard refinance, or cash-out refinance.
Loan amount: Next, to help find your ideal rate quickly, select a loan amount. We divide this into a few main categories to help narrow things down based on location.
Loan program: We offer 3 different loan programs - Conventional, Federal Housing Authority (FHA), and VA loans for veterans. Simply select which program you're interested in. Learn more about CapCenter's loan programs here.
Loan term: The loan term is how long, in years, until the loan is fully repaid. Generally, a longer-term loan works out to lower monthly payments, and a shorter-term loan means less lifetime interest. The loan term may also influence whether other loan options, like points, make sense for you.
Points: A "point" is a percentage of the loan paid up-front in exchange for a lower interest rate. Points can be beneficial if you plan to be in the home past the “break-even point.” This is the point at which the accumulated monthly savings equals the up-front fee.
We made a list of the most frequently asked questions that relate to mortgage rates and how to understand them.
The answer here depends a lot on your situation. If you are planning to hold the mortgage for just a few years, you may be interested in an adjustable-rate mortgage (ARM) with a starting interest rate lower than a fixed-rate mortgage.
An FHA loan may catch your eye with its low interest rate, but these are special circumstance loans that come with their unique costs. For instance, money spent on up-front and monthly mortgage insurance (both requirements on FHA loans) can quickly cancel out the advantages of that lower interest rate.
Regardless of the loan program, there is usually an option to purchase points. A “point” is an up-front fee paid in exchange for a lower interest rate (1 point = 1 percent of the loan amount). When people purchase points, they pay on the front end for a lower interest across the life of the loan.
The right program at the right rate is a lot to consider. Your loan consultant can help you learn about the various loan products offered by CapCenter. They are a great resource to help you find the best option.
Your interest rate is essentially the fee the bank is charging for borrowing money, expressed as a percentage, and assessed – in most cases – monthly.
APR (Annual Percentage Rate) is based on the interest rate but adjusts for the costs of the loan. This number will either be the same as the base interest rate or a little higher and serves well as a bottom-line rate for you to compare across lenders.
Before you can lock your rate, your loan consultant must determine that you are eligible for the loan. Keep in mind that being eligible for a loan is not the same as being approved for a loan.
Once your loan consultant has verified that you are eligible for the loan, you will be presented with the terms of your loan and once agreed upon, you may request to lock your rate.
CapCenter offers extended rate locks and floating rate locks. The rate lock offerings can benefit new construction home purchases but have additional terms. Details regarding rate locks and fees can be found in our purchase disclosures.
Lenders use credit score as a primary risk assessor. There are two ways in which a lender offsets the risk created by a credit score that's not considered "good" or "excellent." One approach is to make the interest rate higher and the other is to charge an up-front fee before funding the loan.
Mortgage rates can change daily, sometimes more than once a day.
CapCenter publishes rates once daily, excluding weekends and holidays. In special circumstances, we may publish a second time. All lenders are required to let you know how current their rates are and you will always see a ‘last updated’ time accompanying CapCenter’s published rates.
Subscribe to rate alerts to stay in the know.
It seems intuitive that a lower rate is a better rate. This, however, is not always the case. There are many other factors to consider, including the cost of the rate and general closing costs. For example, if you are paying points and financing them into the loan, you are adding principal and paying interest over the life of the loan. You may find that the lower interest rate does not significantly lower your monthly payment.
The most important thing is finding a mortgage that fits your situation. You should have an in-depth conversation with your loan consultant about your financial goals.
Choosing a lender after reviewing multiple competing quotes allows you confidence in your choice.
At CapCenter, we suggest that you get quotes from multiple lenders. Having multiple quotes side by side is the best way to compare offers and it allows you to ask specific questions about the differences. No lender should have an issue talking through any questions you have.
Here are some articles we think will help you understand more about mortgage and refinance rates.