US Mortgage Calculator — 30-Year & 15-Year Fixed
Calculate your monthly mortgage payment using current US bank rates. Works for conventional, FHA, VA, and jumbo loans. No signup, no email capture — just math.
Current US mortgage rates (April 2026)
| Loan type | Typical APR |
|---|---|
| 30-year fixed | 6.25% – 7.25% |
| 15-year fixed | 5.50% – 6.50% |
| 5/1 ARM (intro) | 5.75% – 6.75% |
| FHA 30-year | 6.00% – 7.00% |
| VA loan | 5.75% – 6.75% |
| Jumbo 30-year | 6.50% – 7.50% |
Rates vary by credit score (top rates typically require 760+), down payment, and lender. Always get 3 quotes — even 0.25% difference saves thousands over 30 years.
Major US mortgage lenders
- Chase — competitive rates, relationship discounts if you bank with them
- Bank of America — Preferred Rewards discount up to 0.375%
- Wells Fargo — wide branch network, good for first-time buyers
- Rocket Mortgage — fully online, fastest approval (often 1–2 weeks)
- US Bank — strong in Midwest and West Coast
- Credit unions — often 0.25–0.50% below big-bank rates for members
The real cost of a 30-year mortgage
Example: $400,000 loan at 6.75% for 30 years.
- Monthly payment (P&I only): $2,594
- Total paid over 30 years: $933,782
- Total interest: $533,782 — more than the loan itself
- With PMI (if <20% down): add ~$200/mo until you hit 20% equity
- Property tax (1–2% of home value/yr): add $400–$800/mo
- Home insurance: add ~$100–$200/mo
Your true monthly housing cost is often 40–60% higher than the P&I payment. Budget accordingly.
Frequently Asked Questions
What is the current 30-year fixed mortgage rate?
As of April 2026, 30-year fixed rates range from 6.25% to 7.25% APR. Rates loosely track the 10-year Treasury yield, not the Fed funds rate directly.
Is 15-year or 30-year better?
15-year fixed has a lower rate (0.5–0.75% lower) and you pay substantially less total interest. But monthly payments are ~40–50% higher. If you can afford the higher monthly payment, 15-year wins on cost. If not, a 30-year with extra principal payments gets close.
Do I need 20% down?
No, but below 20% you'll pay PMI (0.5–1.5% of loan per year). FHA loans allow 3.5% down with MIP. VA loans (military) allow 0% down with no PMI. USDA rural loans also 0% down.
Fixed or ARM?
Fixed locks your rate for the whole term — safer. ARMs (5/1, 7/1) start lower but adjust later. ARMs make sense only if you plan to sell or refinance before the intro period ends.
What are closing costs?
2–5% of the loan amount. On $400,000, expect $8,000–$20,000. Includes origination, appraisal, title, prepaid taxes. Some lenders offer no-closing-cost at slightly higher rate.