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Sep
20
2025

Current HELOC Rates in Houston, TX Today

By | mortgage | Comments Off on Current HELOC Rates in Houston, TX Today

HOUSTON HELOC RATES TODAY

Current HELOC rates in

Houston, TX.



Disclaimer: The prime rate directly influences the rates on HELOCs and home equity loans.


View your rate

Turn your home equity into cash. Call us for a complimentary consultation or get prequalified online.

Compare HELOC rates in Houston.

Key Points

•   A home equity line of credit, which lenders and borrowers often refer to as a HELOC, is a revolving line of credit secured by the holder’s home equity.

•   HELOC interest rates are tied to the prime rate, as well as the individual borrower’s financial profile and property details.

•   You can use a HELOC to effectively manage large and ongoing expenses, such as a home remodel, education tuition costs, or paying off higher-interest debt.

•   HELOCs almost always come with variable interest rates, and that means your monthly payment may fluctuate as the term progresses.

•   It’s important that you carefully consider your financial situation before taking out a HELOC, since if you default it can lead to foreclosure on your home.

Introduction to HELOC Rates

This guide to HELOC interest rates in Houston, Texas, is packed with information that can help you make informed decisions about how to draw equity from your home. Whether you are considering pulling equity for a full home renovation or long-awaited improvements, or for another significant expense, this comprehensive overview can help you understand factors that influence HELOC interest rates and the benefits and risks of opening a HELOC with a Houston lender. Read on for the knowledge you need to understand current market conditions, and to know what you need to do to qualify for a great rate.

What’s a HELOC?

Before you begin making any borrowing decisions, it will be helpful to understand what a home equity line of credit is and how you can use it to your advantage. A HELOC is a line of credit you can borrow against, in whatever amounts you need, up to a certain limit set by your lender. That limit is based on your level of home equity, among other things. Your home serves as the collateral, which means you’ll need to repay what you borrow or you could face foreclosure.

Your home equity level is easy enough to calculate — it’s the difference between your home’s value and the current balance on your home loan. To find it, simply subtract your current mortgage balance from the estimated value of your home, then divide the answer by that home value figure. The number you’ll arrive at will be your percentage of accrued home equity.

To qualify for a HELOC, you’ll typically need at least 15% equity. You can usually borrow up to 90% of the equity you’ve accrued in your home. HELOC interest rates are often lower than the rates you’ll find on unsecured loans, as you look for options on how to get equity out of your home, making them a popular choice. But before you make the leap, you’ll want all the facts.

A HELOC has two main periods:

The Draw Period

During a HELOC’s initial draw period, generally lasting for 10 years, a borrower can access funds in increments, as they are needed. During this time, you’ll need to pay interest, but only on what you borrow. Most lenders won’t require you to pay down the principal — though you’ll be able to do so, if you want to pay off and draw on the credit line again. A HELOC interest-only calculator is a useful tool to help you figure out how much interest you’d pay during the draw period.

The Repayment Period

After the HELOC draw period ends, the repayment period — usually lasting 10 to 20 years — begins. As a HELOC borrower, your monthly payments will increase during this phase because you’ll begin to repay the principal along with interest. HELOC interest rates are usually variable, so the amount you pay each month may go up or down if rates fluctuate. And they often do. A HELOC monthly payment calculator can compute what your payment might be at any interest rate.

The Origin of HELOC Interest Rates

Lenders determine interest rates for HELOCs and different types of home equity loans using the prime rate as a baseline. This figure tends to move up or down depending on the Federal Reserve’s latest economic maneuvers. Lenders tack on their own margins to arrive at the rates they offer, which is why advertised numbers can vary.

Differences among lenders’ offerings are only one reason to seek out multiple rate quotes if you plan to apply for a HELOC. Your own financial overview, including your credit score, debt level, and the equity you have in your home, plays a role in the interest rate lenders will offer you, too. A high credit score and solid home equity can definitely work in your favor.

How Interest Rates Impact HELOC Affordability

You will need to put in time and energy looking for top HELOC interest rates, but the rate you agree to makes a difference. Even a small rate advantage can mean you’ll pay a lot less interest over the lifetime of the HELOC. If you use $50,000 from a HELOC during the 10-year draw period, for example, the difference in monthly interest based on an 8.50% versus a 9.50% interest rate would be $42 per month. Monthly payments would be $354 or $396, respectively.

Think that isn’t a big difference? Keep doing the math. Once you start paying off both the principal and interest on the same $50,000 credit line during a 20-year repayment period, your monthly payments would be $620 at the lower interest rate and $647 at the higher one. Over the whole repayment term, the higher interest rate would end up costing you an extra $3,000. Since HELOCs have variable interest rates, the real-world numbers will differ.

Check out this chart comparing HELOCs at different credit line amounts, terms, and rates:

Repayment Amount Term Interest Rate Monthly Payment Total Interest Paid
$100,000 20 years 8.00% $836 $100,746
7.00% $775 $86,072
10 years 8.00% $1,213 $45,593
7.00% $1,161 $39,330
$50,000 20 years 8.00% $418 $50,373
7.00% $388 $43,036
10 years 8.00% $607 $22,797
7.00% $581 $19,665
$25,000 20 years 8.00% $209 $25,186
7.00% $194 $21,518
10 years 8.00% $303 $11,398
7.00% $290 $9,833

HELOC Interest Rate Trends

While it isn’t the only possible indicator for HELOC rates, the prime interest rate can be a helpful gauge. Since 2018, the prime rate has bounced up and down — it hit a low of 3.25% in 2020 and a high of 8.50% in 2023. Being aware of this history when you shop can give you a useful perspective on the current rates you may see in Houston.

Date U.S. Rate
9/19/2024 8.00%
7/27/2023 8.50%
5/4/2023 8.25%
3/23/2023 8.00%
2/2/2023 7.75%
12/15/2022 7.50%
11/3/2022 7.00%
9/22/2022 6.25%
7/28/2022 5.50%
6/16/2022 4.75%
5/5/2022 4.00%
3/17/2022 3.50%
3/16/2020 3.25%
3/4/2020 4.25%
10/31/2019 4.75%
9/19/2019 5.00%
8/1/2019 5.25%
12/20/2018 5.5%
9/27/2018 5.25%

Source: U.S. Federal Reserve


Adjustable vs Fixed Interest Rates

Adjustable interest rates are the usual for HELOCs, though it can vary by lender. These adjustable rates tend to start lower than the fixed kind, but in time they can go up or down due to impact from the market. If you choose to move forward with a HELOC, examine offers from multiple lenders for the specifics; you want to know how often rates may change and if the lender will cap them at a certain point. This option might be a good one for you if you can handle financial ebb and flow.

Helpful Tools & Calculators

When you apply for a HELOC, you can look at online tools to help you estimate how much cash you’ll need to make your monthly payments, and what you might pay in interest. Using these will help you understand how a HELOC and its rate could sway your budget, so you can plan.

Run the numbers on your HELOC.

Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.

How to Qualify for a Competitive HELOC Rate

Your credit score, DTI ratio, and home equity level are critical if you want to land a top rate on a HELOC. Lenders look for a potential borrower to have at least 15% equity in their home — and more is better. Here are some ways to ensure your finances are in good shape before you work on the application.

Improve Your Credit Score

A credit score of 700 or higher is considered top-notch — and will be the key to unlocking the best HELOC rates. Good news is, you can nudge your number higher by paying bills on time and slowly but surely chipping away at any balances you’re carrying on credit cards. Read your credit report closely for inaccuracies and dispute any errors, so your score will truly reflect your financial responsibility.

Calculate Your Debt-to-Income (DTI) Ratio

Figuring out your DTI ratio is easy. Just add up the total debts you’re responsible for paying, and divide the sum by your gross monthly income. Most HELOC lenders are looking for borrowers with DTIs under 50%. To be eligible for an enviable HELOC interest rate in Houston, you’ll want to get yours down even further, below 36%. Paying off debt (or increasing earnings) will always enhance your financial profile.

Application Process for a HELOC in Houston

Initiating an application for a HELOC in Houston is straightforward, especially if you prequalify online first, which will also let you view the rate you might qualify for. If you move forward with the full application, you’ll need to gather the necessary paperwork and submit it with your forms via the web. Here’s a step-by-step:

Step 1: Run the Numbers

Before you get started, check your credit score and calculate your debt-to-income ratio. You should also assess your home equity, since you’ll need at least 15% if you’re going to qualify. To figure out your level of equity, subtract your current mortgage balance from your home’s estimated value, then divide the answer by that same home value to get a percentage. Need to keep building your equity? Paying your mortgage on time every month is a great way to do it.

Step 2: Compare Lenders

Research lenders to find out which ones are offering the top HELOC interest rates in Houston. Look at their advertised rates as well as qualification criteria, credit line minimums and maximums, fees, and the durations of their draw and repayment periods. Lenders can have unique terms and conditions. Read the fine print.

Step 3: Submit Your Application

You’ll need to gather your documents, including recent pay stubs, W-2 forms, and tax returns. If you’re self-employed, your potential lender may ask for a profit-and-loss statement, as well as two years’ worth of tax returns. You’ll want to have a copy of your homeowners insurance policy available, too. Once you’ve got everything together, and have double-checked all information for accuracy, you’re ready to apply. You can most likely do it online, over the phone, or in person.

Step 4: Get an Appraisal

Before issuing a HELOC, a lender will require an objective professional analysis of your home’s value. Once you’ve identified the most appealing offer for you, you’ll have to pay around $300 to $600 for an appraisal of your property. This important part of the HELOC application process will also confirm the amount of equity you have in your home.

Step 5: Prepare for Closing

Before you’ll be able to access your funds, you’ll need to pay the required fees and sign your HELOC agreement. Take the time to look over all of your documents carefully. Don’t be afraid to ask all your questions and make sure you thoroughly understand the terms of your HELOC. Some lenders will be able to have your funds ready within a few days of closing, while others may take a little longer to provide access to your new line of credit.

Closing Costs and Fees

HELOCs may come with lower closing costs than you’d pay for a home mortgage loan or a cash-out refi. Usually, the appraisal fee is the borrower’s most significant expense. Other costs you might encounter may be for a necessary title search, and application, origination, and administrative fees. Some lenders charge an annual maintenance fee of up to $250. Keep in mind: If a lender offers to reduce or waive closing costs, it could be in exchange for a higher interest rate.

Recommended: HELOC vs. Home Equity Loan

Tax Benefits and Considerations

Right now, homeowners can deduct the HELOC interest they pay if they use the funds borrowed to make significant improvements to their home. Be aware that this policy may change. Consult a tax advisor about your specific circumstances and remember to itemize your costs.

Alternatives to HELOCs

You can find other ways besides a HELOC to get equity out of your home. Examples include a home equity loan and a cash-out refinance, as well as a personal loan. It’s worth considering every option before committing to a HELOC.

Home Equity Loan

What is a home equity loan? It’s a choice that offers you a one-time lump-sum loan instead of a line of credit. It will likely carry a fixed interest rate and a maximum of 85% of your accrued home equity. (A home equity loan calculator can help you figure out how much you might be able to borrow.) Lenders will look for a 680 or higher credit score to qualify you. If you prefer a more predictable fixed interest rate and set payment schedule, this could be the best fit for you. Another common difference between HELOCs and home equity loans is that a home equity loan gives you the money all at once — and you must immediately begin repaying principal plus interest.

Cash-Out Refinance

A cash-out mortgage refinance lets you refinance for more than you owe on your mortgage right now and take the difference as a cash lump sum. This option is one to consider if the costs of the new mortgage look better than those on your current one.

Things to consider with a cash-out refinance vs. a home equity line of credit: A refinance will require you to have a credit score of 620 or higher and a DTI ratio under 43%. A refi is slightly easier to get and also lets you choose a fixed or variable interest rate for your new home loan. It also leaves you with one monthly payment, rather than two.

Personal Loan

This is an unsecured loan, and you’ll probably repay it in regular, fixed installments over two to seven years. A key benefit of this loan type is that if you encounter a financial issue and are unable to make payments, your home is not at risk of foreclosure. Most lenders look for a credit score of 610 or higher for this type of loan. They’re relatively quick to secure, but interest rates are often higher compared to home equity loans or HELOCs.


The Takeaway

If you are exploring the possibility of applying for a HELOC in Houston, weigh both the likely benefits and the potential risks you’ll be taking on. A HELOC offers financial flexibility by allowing you to borrow only the money you require, and when you need it. It can come with a more appealing interest rate than another option — that makes a HELOC a good borrowing choice if you want to use it to help you manage large, ongoing expenses. But a HELOC also comes with the risk of losing your home should you default. You should realistically assess your financial situation before you take out a line of credit. You’ll also want to look at multiple lenders’ rates, and know that you’ll likely need a credit score of 640 or higher to qualify.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

Unlock your home’s value with a home equity line of credit from SoFi, brokered through Spring EQ.

View your rate


FAQ

Is a HELOC a wise move at this point?

If you feel comfortable signing up for a loan with a variable interest rate, a HELOC could be a good move — especially if a prime rate drop is forecast. It’s a reliable way to find the flexibility to access funds in whatever increments you need to fund large, longer-term expenses. But if fixed payments and their stability better suit you, a better choice may be a home equity loan.

What would the monthly payments on a $100,000 HELOC be?

Payments on any HELOC will depend on the interest rate, the repayment terms, and how much of the credit line you use upfront. For a $100,000 line of credit, a big factor will be whether you need to borrow the full $100,000. If you do, and your rate is 8.00%, you might pay around $667 per month in interest during the draw period. During the repayment phase, when you’d start paying down the principal, too, your payment would rise above $1,200 per month. Since HELOCs have variable interest rates, your payments may end up being higher or lower than these examples.

Do you need an appraisal to get a HELOC?

Yes, you will need to get a home appraisal if you want to be eligible for a home equity line of credit. It’s advisable to wait for instructions on this from your lender, though, so you can make sure the appraisal meets their terms. The appraiser’s report will help the lender determine your home’s current market value, and in turn the amount you’ll be approved to borrow.

Will a HELOC impact your credit score?

Yes, it will, temporarily. Opening a HELOC involves a hard inquiry on your credit report, which can cause a slight, temporary credit score drop. That said, if you manage a HELOC responsibly, it will also positively impact your credit score in the long run. (Just remember, missing payments will harm your creditworthiness.)

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*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.


¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.


†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.


Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.


SOHL-Q225-393

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Sep
20
2025

Current HELOC Rates in Miami,FL Today

By | mortgage | Comments Off on Current HELOC Rates in Miami,FL Today

MIAMI HELOC RATES TODAY

Current HELOC rates in

Miami, FL.



Disclaimer: The prime rate directly influences the rates on HELOCs and home equity loans.


View your rate

Turn your home equity into cash. Call us for a complimentary consultation or get prequalified online.

Compare HELOC rates in Miami.

Key Points

•   A home equity line of credit (HELOC) is a revolving line of credit secured by your home equity.

•   The rates for a HELOC are tied to the prime rate and to an individual borrower’s creditworthiness.

•   HELOCs are useful for managing large ongoing expenses, like a home remodel, or for paying off higher-interest debt.

•   HELOCs have variable rates, which means monthly payments can fluctuate.

•   Defaulting on a HELOC can lead to foreclosure.

Introduction to HELOC Rates

Welcome to your comprehensive guide to home equity line of credit (HELOC) interest rates in Miami, Florida. Whether you’re considering borrowing funds for a home renovation or another significant expense, you can use this information to help you make a well-informed financial decision. The guide covers the factors that impact HELOC rates, the pros and cons of these financial tools, and how to shop around and compare offers.

What Is a HELOC?

A HELOC is a revolving credit line secured by your home equity (the value of your home, less the amount you owe on your home loan). Most lenders will require you to have at least 15% equity in your home to qualify for a HELOC. You can typically borrow up to 90% of that equity.

Foreclosure is the main risk if you default. You should know that HELOCs have variable interest rates and two main phases: the draw period and the repayment period.

The Draw Period

Borrowers have an initial draw period, often 10 years, during which time they can borrow in increments up to a specified credit ceiling. The draw period means you only make interest payments on what you have borrowed. A HELOC interest-only calculator can show you what these payments might look like.

The Repayment Period

The repayment period on the other hand can last up to 20 years. During this phase, you won’t be able to borrow any more, and you’ll begin to pay back the principal plus interest, so monthly payments may increase. Check out a HELOC monthly payment calculator, which can help you see how much your payments during this period might look like.

Recommended: Different Types of Home Equity Lending

Where Do HELOC Interest Rates Originate?

Lenders set their HELOC rates to the prime rate, which is linked to Federal Reserve policies. Each lender then tacks on a margin, leading to the spectrum of rates you’ll encounter. They also take into account your individual financial profile, including your credit score, debt-to-income (DTI) ratio, income, and the equity in your home. A stellar credit score and a healthy DTI ratio can tip the scales in your favor for a more attractive HELOC rate. By being in the know about these factors, you’re better equipped to anticipate rate shifts and make savvy choices about when to pursue a HELOC.

How Interest Rates Impact HELOC Affordability

Even a seemingly small difference in your HELOC rate can make a noticeable impact on your overall costs. For example, if you used $50,000 from a HELOC during your 10-year draw period, the difference in the monthly interest payment based on an 8.50% versus a 9.50% rate is $42 per month (monthly payments would be $354 and $396, respectively). That might not seem like a big deal, but over time, those interest costs add up — to more than $7,000 over a 20-year repayment period.

Repayment Amount Term Interest Rate Monthly Payment Total Interest Paid
$100,000 20 years 8.00% $836 $100,746
7.00% $775 $86,072
10 years 8.00% $1,213 $45,593
7.00% $1,161 $39,330
$50,000 20 years 8.00% $418 $50,373
7.00% $388 $43,036
10 years 8.00% $607 $22,797
7.00% $581 $19,665
$25,000 20 years 8.00% $209 $25,186
7.00% $194 $21,518
10 years 8.00% $303 $11,398
7.00% $290 $9,833

Variable vs. Fixed Interest Rates

HELOCs, on the other hand, typically come with variable interest rates, meaning they can change based on the market. These rates often start lower than fixed rates, which can make your initial payments more manageable. But because they can change, your monthly payments will fluctuate over time. When deciding between the two, think about whether you’d rather have lower initial rates or more predictability.

HELOC Interest Rate Trends

Keeping an eye on the prime rate can provide valuable insight, although it’s not a perfect science on where rates are headed. Over the past several years, the prime rate has been as low as 3.25% in 2020 and as high as 8.50% in 2023. This historical perspective can help you brace for potential changes in HELOC rates in Miami.

Date U.S. Rate
9/19/2024 8.00%
7/27/2023 8.50%
5/4/2023 8.25%
3/23/2023 8.00%
2/2/2023 7.75%
12/15/2022 7.50%
11/3/2022 7.00%
9/22/2022 6.25%
7/28/2022 5.50%
6/16/2022 4.75%
5/5/2022 4.00%
3/17/2022 3.50%
3/16/2020 3.25%
3/4/2020 4.25%
10/31/2019 4.75%
9/19/2019 5.00%
8/1/2019 5.25%
12/20/2018 5.5%
9/27/2018 5.25%

Source: U.S. Federal Reserve


Helpful Tools & Calculators

Before you apply for a HELOC, use our online tools to help you estimate your monthly payments and interest costs. A HELOC payment calculator and HELOC interest-only calculator can help you understand how much you might expect to pay for a HELOC. A home equity loan calculator can help you compare loan options to make the right decision for your needs.

Run the numbers on your HELOC.

Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.

How to Qualify for a Competitive HELOC Rate

To land a competitive HELOC rate, you’ll want to keep your credit score in tip-tip shape, ideally 680 or higher, and ensure your DTI ratio doesn’t exceed 43%. Lenders will also glance at your home’s equity, seeking at least 15% equity in the property. Meeting these standards will set you up for more favorable terms and rates, transforming your HELOC into a savvy financial move.

Improve Your Credit Score

Keeping your credit score at 700 or above is key to unlocking those better interest rates for your HELOC. The good news is, you have the power to improve your credit score. By paying your bills on time and chipping away at those credit card balances, you’re on the right track. Don’t forget to give your credit report a once-over to catch and correct any errors, because every point counts.

Calculate Your Debt-to-Income Ratio (DTI)

Your DTI ratio is a simple calculation: your total monthly debt payments divided by your gross monthly income. Most HELOC lenders typically favor a DTI below 36%, and the lower, the better. To boost your chances of landing a competitive interest rate, work on reducing your debt or increasing your income, or, better yet, do both.

Application Process for a HELOC in Miami

If you’re considering a home equity line of credit, the application process for a HELOC in Miami can be made much simpler by prequalifying online. This will allow you to see potential HELOC rates and get a better idea of the terms and conditions you may qualify for before you apply. Prequalifying typically involves providing some basic financial information and won’t affect your credit score.

Step 1: Run the Numbers

Before you dive into a HELOC application, it’s essential to size up your financial landscape. First, check your credit scores and calculate your DTI ratio to ensure you’re in the running. Then, assess your home equity, which is the difference between your home’s current market value and your outstanding mortgage balance. The more payments you’ve made, the more equity you’ve built. And guess what? More equity could mean better interest rates and higher borrowing limits for you.

Step 2: Compare Lenders

When you’re on the hunt for a HELOC in Miami, it’s all about finding competitive rates. Check interest rates, the minimum and maximum loan amounts, fees, and the terms of the draw and repayment periods. Each lender has specific requirements, so take the time to review everything beforehand.

Step 3: Submit Your Application

Gather all the necessary paperwork, including your ID, proof of income, and property details. For income, pull up recent pay stubs, W-2s, and tax returns. If you’re self-employed, a profit-and-loss statement and the last two years of tax returns might be needed. Property details usually mean just a homeowners insurance declaration page. Then you can submit your application online, over the phone, or in person at a local branch.

Step 4: Get an Appraisal

An appraisal is a professional, unbiased evaluation of your home’s worth in the current market. The cost typically falls between $300 and $600. If the appraised value of your home is higher than what you owe on your mortgage, you’re one step closer to securing a HELOC. This is an important step in determining how much equity you can leverage.

Step 5: Prepare for Closing

Before you can access your HELOC funds, you’ll need to sign all of the required loan documents and pay any associated fees. Most lenders will make your funds available within three business days of your HELOC closing. Make sure you understand the terms and conditions of your loan agreement and be prepared to pay any closing costs, which may include appraisal fees, title search fees, and loan origination fees. Taking the time to review these details can help you avoid any surprises.

Recommended: HELOC vs. Home Equity Loan

Closing Costs and Fees

The good news is that HELOC closing costs are typically less than those for a home purchase or full refinance. The appraisal fee, which can range from $300 to $600, is often the most significant cost. Other potential fees include a title search fee, application fee, loan origination fee, and administrative fees. Some lenders may also charge an annual maintenance fee, which can be up to $250, and transaction fees for each withdrawal. Many lenders offer to reduce or waive closing costs, but this may result in a higher interest rate.

Tax Benefits and Considerations

Homeowners have the option to deduct HELOC interest on a federal tax return, but only if the borrowed funds are specifically used for significantly improving a primary residence. To navigate the specific and potentially complex tax implications, and to confirm individual eligibility for deductions related to HELOCs, consult with a qualified tax advisor. Understanding these potential benefits can be helpful, empowering you to make a more informed financial decision.

Alternatives to HELOCs

There are other financing options besides HELOCs, such as home equity loans, cash-out refinancing, and personal loans, and each has its own advantages and disadvantages.

Home Equity Loan

A home equity loan offers a lump sum with a fixed interest rate. You can typically borrow up to 85% of your home’s equity. Lenders usually look for a credit score of 680 or higher, with many preferring 700 and above. If you need a specific amount of money and prefer predictable monthly payments, this might be the right choice for you.

Cash-Out Refinance

A cash-out refinance is another avenue to consider to tap into your home’s equity, by refinancing your mortgage for more than the amount currently owed and receiving the difference in cash. This type of refinance could be the perfect solution for those in need of a significant sum. Typically, a 620 credit score and a DTI ratio below 43% are required, and you can choose between fixed or variable rates.

Personal Loan

A personal loan is a versatile, typically unsecured loan that you repay in regular, fixed installments over a period of two to seven years. The key benefit here is that your home is not at risk. If times get tough, your home is safe from foreclosure. Most lenders look for a credit score of at least 610 or higher when considering a personal loan application. While they are relatively quick to secure, keep in mind that the interest rates might be higher compared to HELOCs or home equity loans.


The Takeaway

As you consider the possibility of a HELOC, keep in mind the benefits and potential pitfalls. A line of credit offers flexibility in your borrowing, and HELOC interest rates are usually better than those for personal loans. But fluctuating interest rates and the risk of foreclosure are not to be taken lightly. Be sure to shop around and compare offers from different lenders to locate competitive terms and conditions.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

Unlock your home’s value with a home equity line of credit from SoFi, brokered through Spring EQ.

View your rate


FAQ

What could prevent you from getting a home equity loan?

There are a few things that might prevent you from securing a home equity loan, such as a less-than-ideal credit score (under 680), a high DTI ratio (over 50%), or not enough equity built up in your home (less than 15%). Other factors, like a history of late payments, significant existing debt, or a recent foreclosure, could also be red flags.

Is a HELOC a good idea right now for you?

Whether a HELOC is a good move now depends on your financial situation and the current HELOC rates in Miami. If you need a flexible line of credit for significant expenses and can manage the variable interest rates, a HELOC might be beneficial. However, consider the risks, such as the possibility of losing your home if payments are not made. Be sure to compare offers and terms from multiple lenders.

Do you need an appraisal for a HELOC?

Yes, you usually need an appraisal for a HELOC to determine your home’s current market value. The appraisal process ensures that the lender understands the value of the collateral, which is your home. While appraisals can add to the initial costs, they are necessary to secure a HELOC, and they show that the loan amount is appropriate for your property’s value.

Will a HELOC impact your credit score?

Opening a HELOC may cause a slight dip in your credit score. But if you use your HELOC wisely, making payments on time and not maxing it out, you could see an improvement in your score. Keep in mind that missing payments or maxing out your HELOC could have the opposite effect.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.


¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.


†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.


Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.


SOHL-Q225-387

Browse other Florida home guides.

Browse HELOC rates by state guides.

More HELOC resources.

Turn your home equity into cash. Call us for a complimentary consultation or get prequalified online.

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Sep
18
2025

SoFi Unlimited 2% Credit Card Terms & Conditions

By | Uncategorized | Comments Off on SoFi Unlimited 2% Credit Card Terms & Conditions

SoFi Unlimited 2% Credit Card Terms & Conditions

SOFI CREDIT CARD TERMS OF OFFER INTEREST RATES AND INTEREST CHARGES

Annual Percentage Rate (APR) for Purchases

The standard variable APR for purchases is 29.24%, based on your creditworthiness. Your APR will vary with the market based on the Prime Rate.

Annual Percentage Rate (APR) for Balance Transfers

29.24%, based on your creditworthiness. Your APR will vary with the market based on the Prime Rate. SoFi is currently accepting Balance Transfers from recipients of promotional offers only. We will inform you when this feature is widely available.

Annual Percentage Rate (APR) for Cash Advances

30.74%. This APR will vary with the market based on the Prime Rate.

How to Avoid Paying Interest on Purchases

Your due date is at least 25 days after the close of each billing cycle. We will not charge you interest on purchases made during the most recent billing cycle if you pay your entire balance (adjusted for any financing plan, if applicable) in full on or before the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date.

Minimum Interest Charge

If you are charged interest, the charge will be no less than $1.00.

For Credit Card Tips from the Consumer Financial Protection Bureau

To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at https://www.consumerfinance.gov/learnmore

FEES
Annual Fee None
Transaction Fees

  • Balance Transfer Fee
  • Cash Advance Fee

  • The greater of $10 or 5% of the Balance Transfer
  • The greater of $10 or 5% of the Cash Advance
Penalty Fees

  • Late Payment Fee
  • Returned Payment Fee

  • Up to $41
  • None

How We Will Calculate Your Balance

We use the “daily balance” method, including new transactions, to calculate the daily balance on which we will charge interest.

Loss of Introductory APR

We may revoke any promotional APR if you fail to make a payment of at least the minimum payment due within 60 days of the due date. Your new APR will be the Standard Purchase APR.

Variable Rates

Your Daily Periodic Rate(s) and corresponding Annual Percentage Rate(s) will change if the Prime Rate changes. If the Daily Periodic Rate(s) and corresponding Annual Percentage Rate(s) increase, your interest charges will increase, and your minimum payment will be greater. Complete details regarding how the variable rate is determined are set forth in the Cardholder Agreement.

Payment Allocation

We decide how to apply your payment, up to the minimum payment, to the balances on your account. We may apply the minimum payment first to interest charges, then to the balances with the lowest APR, and then to the balances with higher APRs.

If you pay more than the Minimum Payment, we’ll apply the amount over the Minimum Payment, first to the Balance with the highest APR, then to the Balance with the next highest APR, and so on, except as otherwise required by applicable law.

SoFi Unlimited 2% Credit Card Terms & Conditions

The SoFi Unlimited 2% Credit Card is issued by SoFi Bank, N.A. (“SoFi”, “we”, “us”, or “our”). By submitting this application, you request that we establish a card account (“SoFi Credit Card Account”) for you and any authorized users you have designated. You agree that all information provided in this application is verifiable and accurate. The SoFi Credit Card Account will be governed by the terms of the cardholder agreement (“Cardholder Agreement”), which will be provided when the SoFi Credit Card Account is issued.

Your eligibility for a SoFi Credit Card Account or a subsequently offered product or service is subject to the final determination by SoFi Bank, N.A., as issuer. Please allow thirty (30) days from the date of submission to process your application.

You must be at least 18 years of age (or of legal age in your state of residence). The card offer referenced in this communication is only available to individuals who reside in the United States. This communication is not and should not be construed as an offer to individuals outside of the United States.

Identity Verification

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW CARD ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens a SoFi Credit Card Account. This means that we will ask for your name, address, date of birth, and other information that will allow us to identify you when you open a SoFi Credit Card Account. We may also ask to see your driver’s license or other identifying documents and obtain identification information about you or any authorized user you add to your SoFi Credit Card Account.

Credit Reports

Upon completion of your Credit Card application and submission, you authorize us to request a copy of your credit report from one or more consumer agencies. Upon receiving your completed application, we will conduct a soft credit pull, which will not impact your credit score. You hereby authorize us to conduct a soft credit pull upon receipt of your application. You understand that after evaluating your completed application and soft pull credit report, we may determine not to offer credit to you. If we approve your application, we will conduct a hard credit pull, which might impact your credit score. You hereby authorize us to conduct a hard credit pull following the approval of your application.

You authorize us to request credit reports and other information about you from consumer reporting agencies and other sources for such purposes as: (a) determining whether to issue you a SoFi Credit Card Account, (b) administering, reviewing, and renewing the SoFi Card Account, (c) credit line increases or decreases, (d) collection and other servicing of the SoFi Credit Card Account, (e) offering other products, (f) services, and (g) for any other uses permitted by law. We may report negative information about your SoFi Credit Card Account payment history, like delinquencies, to consumer reporting agencies.

Cardholder Agreement

If you are approved for a SoFi Credit Card Account, you’ll receive the Cardholder Agreement. By activating your SoFi Credit Card Account, using the SoFi Unlimited 2% Credit Card or making any payment to your Account, you are agreeing to be bound by the terms of the Cardholder Agreement. We have the right to make changes to the terms of your SoFi Credit Card Account (including rates and fees) in accordance with the Cardholder Agreement.

In New York, this Agreement begins on the first date that you sign a sales slip or memorandum evidencing the purchase of goods or services.

Credit Eligibility

To receive a SoFi Credit Card Account, you must meet certain applicable criteria bearing on creditworthiness. Your revolving credit limit may be determined based on the following:

  • Your annual salary and wages
  • Any other annual income
  • A review of your debt, including the debt listed on your credit report.
  • A review of your credit history and other factors deemed relevant by the issuer

We’ll inform you of your revolving credit limit when you’re approved for your SoFi Credit Card Account. Some credit limits may be as low as $500.

About Adding An Authorized User

Before adding an authorized user to your SoFi Credit Card Account you should know that:

  • You’re responsible for all charges made to your SoFi Credit Card Account by the authorized user
  • Authorized users have access to your SoFi Credit Card Account information
  • Before adding an authorized user, you must first let them know that we may report SoFi Credit Card Account performance to the credit reporting agencies in the authorized user’s name
  • A review of your credit history and other factors deemed relevant by the issuer

If we ask for information about the authorized user, you must obtain their permission to share their information with us and for us to share it as allowed by applicable law.

Additional Information

Any benefit, reward, service, or feature offered in connection with your Card Account may change or be discontinued at any time for any reason except as otherwise expressly indicated. SoFi Bank isn’t responsible for products and services offered by other companies.

SoFi Unlimited 2% Credit Card Rewards Program

With the SoFi Unlimited 2% Credit Card, you can earn rewards points for purchases made using your card, and you can redeem those points for statement credits, rewards offered through the SoFi Member Rewards Program, or other rewards offered from time to time. More details onSoFi Unlimited 2% Credit Card Rewards can be found here.

SoFi Member Rewards Program

As a SoFi Member, you can earn points by using features across SoFi products that are designed to help you Get Your Money Right. When you elect to redeem Rewards Points toward active SoFi accounts, including but not limited to your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Automated Invest account, SoFi Credit Card account, SoFi Personal Loan, Private Student Loan, Student Loan Refinance, or toward SoFi Travel purchases, your Rewards Points will redeem at a rate of 1 cent per every point.

Mastercard World Benefits

You are also eligible for more rewards through the Mastercard World Elite Benefits program when shopping with eligible merchants. More details on the Mastercard World Elite Benefits program can be found here.

Fraud, Misuse, Abuse, or Suspicious Activity

If we see evidence of fraud, misuse, abuse, or suspicious activity, we’ll investigate and, if we determine that fraud, misuse or abuse has occurred, we may take action against you. This action may include, without limitation and without prior notice:

  • Taking away the rewards points you earned because of fraud, misuse, or abuse
  • Suspending or closing your SoFi Credit Card Account
  • Taking legal action to recover our monetary losses, including litigation costs and damages

Some examples of fraud, misuse, abuse and suspicious activity include:

  • Using your SoFi Credit Card Account in an abusive manner for the primary purpose of acquiring rewards points
  • Using your SoFi Credit Card Account other than primarily for personal, consumer, or household purposes

SoFi Bank reserves the right to take action, including but not limited to those actions enumerated above, based on your activity across any SoFi product, as well as external information received from SoFi third-party vendors, external bureaus, or industry referrals.

Special Notices

California Residents:
If married, you may apply for a separate account.

Delaware Residents:
Service charges not in excess of those permitted by law will be charged on the outstanding balances from month to month.

Ohio Residents:
The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio civil rights commission administers compliance with this law.

Wisconsin Residents:
If you are applying for individual credit or joint credit with someone other than your spouse, and your spouse also lives in Wisconsin, combine your financial information with your spouse’s financial information. No provision of any marital property agreement, unilateral statement under Section 766.59 of the Wisconsin statutes or court order under section 766.70 adversely affects the interest of the lender, unless the lender, prior to the time credit is granted, is furnished a copy of the agreement, statement of decree or has actual knowledge of the adverse provision when the obligation to the lender is incurred. If married, you understand that your lender must inform your spouse if a credit account is opened for you.

Additional documents

As a reminder, the SoFi Unlimited 2% Credit Card is a completely digital product. All written communications related to the card will be online or in electronic format. The following is a link to the SoFi Esign terms and conditions that you must agree to in connection with your application for the SoFi Unlimited 2% Credit Card.

Read more
Sep
17
2025

Current 15-Year Fixed Mortgage Rate Today

By | 1_Web_ML, mortgage | Comments Off on Current 15-Year Fixed Mortgage Rate Today



15-Year Fixed Mortgage Rate

Check out our
current 15-year
fixed mortgage rate.

A 15-year fixed mortgage is a
conventional loan with an interest
rate that doesn’t fluctuate for the
life of the loan.

Check out SoFi’s 15-year fixed mortgage rate today.


View your rate


Checking won’t affect your credit score.

{/* current rate */}

Current 15-year
fixed
mortgage rate.

Take a look at today’s 15-year fixed mortgage rate.


View your rate


Checking won’t affect your credit score.†

5 10-YEAR Payment Example: The payment for a 10-year term, loan amount $362000.00, Rate 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LTV 80% is $3884.00 for full Principal and Interest Payments with $5364.84 due at closing. The Annual Percentage Rate is 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st_of_discount_points":"5187.46","offer_15_years_total_fee_amount":"5792.20","offer_15_years_property_value":"452500.00","offer_15_years_loan_amount":"362000.00","offer_15_years_upfront_mortgage_insurance":"0.00","offer_10_years_principal_and_interest":"3884.00","offer_10_years_rate":"5.250","offer_10_years_apr":"5.778","offer_10_years_discount_points":"1.482","offer_10_years_cost_of_discount_points":"5364.84","offer_10_years_total_fee_amount":"5792.20","offer_10_years_property_value":"452500.00","offer_10_years_loan_amount":"362000.00","offer_10_years_upfront_mortgage_insurance":"0.00","offer_26_years_principal_and_interest":"2321.95","offer_26_years_rate":"6.125","offer_26_years_apr":"6.356","offer_26_years_discount_points":"1.297","offer_26_years_cost_of_discount_points":"4695.14","offer_26_years_total_fee_amount":"5792.20","offer_26_years_property_value":"452500.00","offer_26_years_loan_amount":"362000.00","offer_26_years_upfront_mortgage_insurance":"0.00","offer_27_years_principal_and_interest":"2287.16","offer_27_years_rate":"6.125","offer_27_years_apr":"6.350","offer_27_years_discount_points":"1.297","offer_27_years_cost_of_discount_points":"4695.14","offer_27_years_total_fee_amount":"5792.20","offer_27_years_property_value":"452500.00","offer_27_years_loan_amount":"362000.00","offer_27_years_upfront_mortgage_insurance":"0.00","offer_28_years_principal_and_interest":"2255.37","offer_28_years_rate":"6.125","offer_28_years_apr":"6.344","offer_28_years_discount_points":"1.297","offer_28_years_cost_of_discount_points":"4695.14","offer_28_years_total_fee_amount":"5792.20","offer_28_years_property_value":"452500.00","offer_28_years_loan_amount":"362000.00","offer_28_years_upfront_mortgage_insurance":"0.00","offer_29_years_principal_and_interest":"2226.26","offer_29_years_rate":"6.125","offer_29_years_apr":"6.339","offer_29_years_discount_points":"1.297","offer_29_years_cost_of_discount_points":"4695.14","offer_29_years_total_fee_amount":"5792.20","offer_29_years_property_value":"452500.00","offer_29_years_loan_amount":"362000.00","offer_29_years_upfront_mortgage_insurance":"0.00","offer_5/6_arm_principal_and_interest":"2084.00","offer_5/6_arm_rate":"5.625","offer_5/6_arm_apr":"6.521","offer_5/6_arm_discount_points":"1.559","offer_5/6_arm_cost_of_discount_points":"5643.58","offer_5/6_arm_total_fee_amount":"5792.20","offer_5/6_arm_property_value":"452500.00","offer_5/6_arm_loan_amount":"362000.00","offer_5/6_arm_upfront_mortgage_insurance":"0.00","offer_7/6_arm_principal_and_interest":"2113.00","offer_7/6_arm_rate":"5.750","offer_7/6_arm_apr":"6.455","offer_7/6_arm_discount_points":"1.561","offer_7/6_arm_cost_of_discount_points":"5650.82","offer_7/6_arm_total_fee_amount":"5792.20","offer_7/6_arm_property_value":"452500.00","offer_7/6_arm_loan_amount":"362000.00","offer_7/6_arm_upfront_mortgage_insurance":"0.00","offer_10/6_arm_principal_and_interest":"2141.00","offer_10/6_arm_rate":"5.875","offer_10/6_arm_apr":"6.388","offer_10/6_arm_discount_points":"1.468","offer_10/6_arm_cost_of_discount_points":"5314.16","offer_10/6_arm_total_fee_amount":"5792.20","offer_10/6_arm_property_value":"452500.00","offer_10/6_arm_loan_amount":"362000.00","offer_10/6_arm_upfront_mortgage_insurance":"0.00","as_of_date":"2025-12-12"}.offer_10_years_apr}%`}%. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

6 15-YEAR Payment Example: The payment for a 15-year term, loan amount $362000.00, Rate {`${{"offer_30_year_fixed_fha_principal_and_interest":"2063.00","offer_30_year_fixed_fha_rate":"5.375","offer_30_year_fixed_fha_apr":"6.108","offer_30_year_fixed_fha_discount_points":"1.479","offer_30_year_fixed_fha_cost_of_discount_points":"5353.98","offer_30_year_fixed_fha_total_fee_amount":"5792.20","offer_30_year_fixed_fha_property_value":"452500.00","offer_30_year_fixed_fha_loan_amount":"362000.00","offer_30_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_20_year_fixed_fha_principal_and_interest":"2508.00","offer_20_year_fixed_fha_rate":"5.375","offer_20_year_fixed_fha_apr":"6.345","offer_20_year_fixed_fha_discount_points":"1.734","offer_20_year_fixed_fha_cost_of_discount_points":"6277.08","offer_20_year_fixed_fha_total_fee_amount":"5792.20","offer_20_year_fixed_fha_property_value":"452500.00","offer_20_year_fixed_fha_loan_amount":"362000.00","offer_20_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_15_year_fixed_fha_principal_and_interest":"2913.00","offer_15_year_fixed_fha_rate":"5.000","offer_15_year_fixed_fha_apr":"5.771","offer_15_year_fixed_fha_discount_points":"1.437","offer_15_year_fixed_fha_cost_of_discount_points":"5201.94","offer_15_year_fixed_fha_total_fee_amount":"5792.20","offer_15_year_fixed_fha_property_value":"452500.00","offer_15_year_fixed_fha_loan_amount":"362000.00","offer_15_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_10_year_fixed_fha_principal_and_interest":"3907.00","offer_10_year_fixed_fha_rate":"5.000","offer_10_year_fixed_fha_apr":"6.048","offer_10_year_fixed_fha_discount_points":"1.437","offer_10_year_fixed_fha_cost_of_discount_points":"5201.94","offer_10_year_fixed_fha_total_fee_amount":"5792.20","offer_10_year_fixed_fha_property_value":"452500.00","offer_10_year_fixed_fha_loan_amount":"362000.00","offer_10_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_30_year_fixed_va_principal_and_interest":"2052.00","offer_30_year_fixed_va_rate":"5.375","offer_30_year_fixed_va_apr":"5.648","offer_30_year_fixed_va_discount_points":"1.267","offer_30_year_fixed_va_cost_of_discount_points":"4586.54","offer_30_year_fixed_va_total_fee_amount":"4297.20","offer_30_year_fixed_va_property_value":"452500.00","offer_30_year_fixed_va_loan_amount":"362000.00","offer_30_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_20_year_fixed_va_principal_and_interest":"2495.00","offer_20_year_fixed_va_rate":"5.375","offer_20_year_fixed_va_apr":"5.754","offer_20_year_fixed_va_discount_points":"1.362","offer_20_year_fixed_va_cost_of_discount_points":"4930.44","offer_20_year_fixed_va_total_fee_amount":"4297.20","offer_20_year_fixed_va_property_value":"452500.00","offer_20_year_fixed_va_loan_amount":"362000.00","offer_20_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_15_year_fixed_va_principal_and_interest":"2875.00","offer_15_year_fixed_va_rate":"4.875","offer_15_year_fixed_va_apr":"5.381","offer_15_year_fixed_va_discount_points":"1.575","offer_15_year_fixed_va_cost_of_discount_points":"5701.50","offer_15_year_fixed_va_total_fee_amount":"4297.20","offer_15_year_fixed_va_property_value":"452500.00","offer_15_year_fixed_va_loan_amount":"362000.00","offer_15_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_10_year_fixed_va_principal_and_interest":"3865.00","offer_10_year_fixed_va_rate":"4.875","offer_10_year_fixed_va_apr":"5.599","offer_10_year_fixed_va_discount_points":"1.575","offer_10_year_fixed_va_cost_of_discount_points":"5701.50","offer_10_year_fixed_va_total_fee_amount":"4297.20","offer_10_year_fixed_va_property_value":"452500.00","offer_10_year_fixed_va_loan_amount":"362000.00","offer_10_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_30_years_principal_and_interest":"2200.00","offer_30_years_rate":"6.125","offer_30_years_apr":"6.335","offer_30_years_discount_points":"1.297","offer_30_years_cost_of_discount_points":"4695.14","offer_30_years_total_fee_amount":"5792.20","offer_30_years_property_value":"452500.00","offer_30_years_loan_amount":"362000.00","offer_30_years_upfront_mortgage_insurance":"0.00","offer_25_years_principal_and_interest":"2360.00","offer_25_years_rate":"6.125","offer_25_years_apr":"6.368","offer_25_years_discount_points":"1.355","offer_25_years_cost_of_discount_points":"4905.10","offer_25_years_total_fee_amount":"5792.20","offer_25_years_property_value":"452500.00","offer_25_years_loan_amount":"362000.00","offer_25_years_upfront_mortgage_insurance":"0.00","offer_20_years_principal_and_interest":"2591.00","offer_20_years_rate":"5.990","offer_20_years_apr":"6.276","offer_20_years_discount_points":"1.368","offer_20_years_cost_of_discount_points":"4952.16","offer_20_years_total_fee_amount":"5792.20","offer_20_years_property_value":"452500.00","offer_20_years_loan_amount":"362000.00","offer_20_years_upfront_mortgage_insurance":"0.00","offer_15_years_principal_and_interest":"2910.00","offer_15_years_rate":"5.250","offer_15_years_apr":"5.612","offer_15_years_discount_points":"1.433","offer_15_years_cost_of_discount_points":"5187.46","offer_15_years_total_fee_amount":"5792.20","offer_15_years_property_value":"452500.00","offer_15_years_loan_amount":"362000.00","offer_15_years_upfront_mortgage_insurance":"0.00","offer_10_years_principal_and_interest":"3884.00","offer_10_years_rate":"5.250","offer_10_years_apr":"5.778","offer_10_years_discount_points":"1.482","offer_10_years_cost_of_discount_points":"5364.84","offer_10_years_total_fee_amount":"5792.20","offer_10_years_property_value":"452500.00","offer_10_years_loan_amount":"362000.00","offer_10_years_upfront_mortgage_insurance":"0.00","offer_26_years_principal_and_interest":"2321.95","offer_26_years_rate":"6.125","offer_26_years_apr":"6.356","offer_26_years_discount_points":"1.297","offer_26_years_cost_of_discount_points":"4695.14","offer_26_years_total_fee_amount":"5792.20","offer_26_years_property_value":"452500.00","offer_26_years_loan_amount":"362000.00","offer_26_years_upfront_mortgage_insurance":"0.00","offer_27_years_principal_and_interest":"2287.16","offer_27_years_rate":"6.125","offer_27_years_apr":"6.350","offer_27_years_discount_points":"1.297","offer_27_years_cost_of_discount_points":"4695.14","offer_27_years_total_fee_amount":"5792.20","offer_27_years_property_value":"452500.00","offer_27_years_loan_amount":"362000.00","offer_27_years_upfront_mortgage_insurance":"0.00","offer_28_years_principal_and_interest":"2255.37","offer_28_years_rate":"6.125","offer_28_years_apr":"6.344","offer_28_years_discount_points":"1.297","offer_28_years_cost_of_discount_points":"4695.14","offer_28_years_total_fee_amount":"5792.20","offer_28_years_property_value":"452500.00","offer_28_years_loan_amount":"362000.00","offer_28_years_upfront_mortgage_insurance":"0.00","offer_29_years_principal_and_interest":"2226.26","offer_29_years_rate":"6.125","offer_29_years_apr":"6.339","offer_29_years_discount_points":"1.297","offer_29_years_cost_of_discount_points":"4695.14","offer_29_years_total_fee_amount":"5792.20","offer_29_years_property_value":"452500.00","offer_29_years_loan_amount":"362000.00","offer_29_years_upfront_mortgage_insurance":"0.00","offer_5/6_arm_principal_and_interest":"2084.00","offer_5/6_arm_rate":"5.625","offer_5/6_arm_apr":"6.521","offer_5/6_arm_discount_points":"1.559","offer_5/6_arm_cost_of_discount_points":"5643.58","offer_5/6_arm_total_fee_amount":"5792.20","offer_5/6_arm_property_value":"452500.00","offer_5/6_arm_loan_amount":"362000.00","offer_5/6_arm_upfront_mortgage_insurance":"0.00","offer_7/6_arm_principal_and_interest":"2113.00","offer_7/6_arm_rate":"5.750","offer_7/6_arm_apr":"6.455","offer_7/6_arm_discount_points":"1.561","offer_7/6_arm_cost_of_discount_points":"5650.82","offer_7/6_arm_total_fee_amount":"5792.20","offer_7/6_arm_property_value":"452500.00","offer_7/6_arm_loan_amount":"362000.00","offer_7/6_arm_upfront_mortgage_insurance":"0.00","offer_10/6_arm_principal_and_interest":"2141.00","offer_10/6_arm_rate":"5.875","offer_10/6_arm_apr":"6.388","offer_10/6_arm_discount_points":"1.468","offer_10/6_arm_cost_of_discount_points":"5314.16","offer_10/6_arm_total_fee_amount":"5792.20","offer_10/6_arm_property_value":"452500.00","offer_10/6_arm_loan_amount":"362000.00","offer_10/6_arm_upfront_mortgage_insurance":"0.00","as_of_date":"2025-12-12"}.offer_15_years_rate}%`}, LTV 80% is $2910.00 for full Principal and Interest Payments with $5187.46 due at closing. The Annual Percentage Rate is 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st_of_discount_points":"5187.46","offer_15_years_total_fee_amount":"5792.20","offer_15_years_property_value":"452500.00","offer_15_years_loan_amount":"362000.00","offer_15_years_upfront_mortgage_insurance":"0.00","offer_10_years_principal_and_interest":"3884.00","offer_10_years_rate":"5.250","offer_10_years_apr":"5.778","offer_10_years_discount_points":"1.482","offer_10_years_cost_of_discount_points":"5364.84","offer_10_years_total_fee_amount":"5792.20","offer_10_years_property_value":"452500.00","offer_10_years_loan_amount":"362000.00","offer_10_years_upfront_mortgage_insurance":"0.00","offer_26_years_principal_and_interest":"2321.95","offer_26_years_rate":"6.125","offer_26_years_apr":"6.356","offer_26_years_discount_points":"1.297","offer_26_years_cost_of_discount_points":"4695.14","offer_26_years_total_fee_amount":"5792.20","offer_26_years_property_value":"452500.00","offer_26_years_loan_amount":"362000.00","offer_26_years_upfront_mortgage_insurance":"0.00","offer_27_years_principal_and_interest":"2287.16","offer_27_years_rate":"6.125","offer_27_years_apr":"6.350","offer_27_years_discount_points":"1.297","offer_27_years_cost_of_discount_points":"4695.14","offer_27_years_total_fee_amount":"5792.20","offer_27_years_property_value":"452500.00","offer_27_years_loan_amount":"362000.00","offer_27_years_upfront_mortgage_insurance":"0.00","offer_28_years_principal_and_interest":"2255.37","offer_28_years_rate":"6.125","offer_28_years_apr":"6.344","offer_28_years_discount_points":"1.297","offer_28_years_cost_of_discount_points":"4695.14","offer_28_years_total_fee_amount":"5792.20","offer_28_years_property_value":"452500.00","offer_28_years_loan_amount":"362000.00","offer_28_years_upfront_mortgage_insurance":"0.00","offer_29_years_principal_and_interest":"2226.26","offer_29_years_rate":"6.125","offer_29_years_apr":"6.339","offer_29_years_discount_points":"1.297","offer_29_years_cost_of_discount_points":"4695.14","offer_29_years_total_fee_amount":"5792.20","offer_29_years_property_value":"452500.00","offer_29_years_loan_amount":"362000.00","offer_29_years_upfront_mortgage_insurance":"0.00","offer_5/6_arm_principal_and_interest":"2084.00","offer_5/6_arm_rate":"5.625","offer_5/6_arm_apr":"6.521","offer_5/6_arm_discount_points":"1.559","offer_5/6_arm_cost_of_discount_points":"5643.58","offer_5/6_arm_total_fee_amount":"5792.20","offer_5/6_arm_property_value":"452500.00","offer_5/6_arm_loan_amount":"362000.00","offer_5/6_arm_upfront_mortgage_insurance":"0.00","offer_7/6_arm_principal_and_interest":"2113.00","offer_7/6_arm_rate":"5.750","offer_7/6_arm_apr":"6.455","offer_7/6_arm_discount_points":"1.561","offer_7/6_arm_cost_of_discount_points":"5650.82","offer_7/6_arm_total_fee_amount":"5792.20","offer_7/6_arm_property_value":"452500.00","offer_7/6_arm_loan_amount":"362000.00","offer_7/6_arm_upfront_mortgage_insurance":"0.00","offer_10/6_arm_principal_and_interest":"2141.00","offer_10/6_arm_rate":"5.875","offer_10/6_arm_apr":"6.388","offer_10/6_arm_discount_points":"1.468","offer_10/6_arm_cost_of_discount_points":"5314.16","offer_10/6_arm_total_fee_amount":"5792.20","offer_10/6_arm_property_value":"452500.00","offer_10/6_arm_loan_amount":"362000.00","offer_10/6_arm_upfront_mortgage_insurance":"0.00","as_of_date":"2025-12-12"}.offer_20_years_apr}%`}. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

7 20-YEAR Payment Example: The payment for a 20-year term, loan amount $362000.00, Rate {`${{"offer_30_year_fixed_fha_principal_and_interest":"2063.00","offer_30_year_fixed_fha_rate":"5.375","offer_30_year_fixed_fha_apr":"6.108","offer_30_year_fixed_fha_discount_points":"1.479","offer_30_year_fixed_fha_cost_of_discount_points":"5353.98","offer_30_year_fixed_fha_total_fee_amount":"5792.20","offer_30_year_fixed_fha_property_value":"452500.00","offer_30_year_fixed_fha_loan_amount":"362000.00","offer_30_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_20_year_fixed_fha_principal_and_interest":"2508.00","offer_20_year_fixed_fha_rate":"5.375","offer_20_year_fixed_fha_apr":"6.345","offer_20_year_fixed_fha_discount_points":"1.734","offer_20_year_fixed_fha_cost_of_discount_points":"6277.08","offer_20_year_fixed_fha_total_fee_amount":"5792.20","offer_20_year_fixed_fha_property_value":"452500.00","offer_20_year_fixed_fha_loan_amount":"362000.00","offer_20_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_15_year_fixed_fha_principal_and_interest":"2913.00","offer_15_year_fixed_fha_rate":"5.000","offer_15_year_fixed_fha_apr":"5.771","offer_15_year_fixed_fha_discount_points":"1.437","offer_15_year_fixed_fha_cost_of_discount_points":"5201.94","offer_15_year_fixed_fha_total_fee_amount":"5792.20","offer_15_year_fixed_fha_property_value":"452500.00","offer_15_year_fixed_fha_loan_amount":"362000.00","offer_15_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_10_year_fixed_fha_principal_and_interest":"3907.00","offer_10_year_fixed_fha_rate":"5.000","offer_10_year_fixed_fha_apr":"6.048","offer_10_year_fixed_fha_discount_points":"1.437","offer_10_year_fixed_fha_cost_of_discount_points":"5201.94","offer_10_year_fixed_fha_total_fee_amount":"5792.20","offer_10_year_fixed_fha_property_value":"452500.00","offer_10_year_fixed_fha_loan_amount":"362000.00","offer_10_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_30_year_fixed_va_principal_and_interest":"2052.00","offer_30_year_fixed_va_rate":"5.375","offer_30_year_fixed_va_apr":"5.648","offer_30_year_fixed_va_discount_points":"1.267","offer_30_year_fixed_va_cost_of_discount_points":"4586.54","offer_30_year_fixed_va_total_fee_amount":"4297.20","offer_30_year_fixed_va_property_value":"452500.00","offer_30_year_fixed_va_loan_amount":"362000.00","offer_30_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_20_year_fixed_va_principal_and_interest":"2495.00","offer_20_year_fixed_va_rate":"5.375","offer_20_year_fixed_va_apr":"5.754","offer_20_year_fixed_va_discount_points":"1.362","offer_20_year_fixed_va_cost_of_discount_points":"4930.44","offer_20_year_fixed_va_total_fee_amount":"4297.20","offer_20_year_fixed_va_property_value":"452500.00","offer_20_year_fixed_va_loan_amount":"362000.00","offer_20_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_15_year_fixed_va_principal_and_interest":"2875.00","offer_15_year_fixed_va_rate":"4.875","offer_15_year_fixed_va_apr":"5.381","offer_15_year_fixed_va_discount_points":"1.575","offer_15_year_fixed_va_cost_of_discount_points":"5701.50","offer_15_year_fixed_va_total_fee_amount":"4297.20","offer_15_year_fixed_va_property_value":"452500.00","offer_15_year_fixed_va_loan_amount":"362000.00","offer_15_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_10_year_fixed_va_principal_and_interest":"3865.00","offer_10_year_fixed_va_rate":"4.875","offer_10_year_fixed_va_apr":"5.599","offer_10_year_fixed_va_discount_points":"1.575","offer_10_year_fixed_va_cost_of_discount_points":"5701.50","offer_10_year_fixed_va_total_fee_amount":"4297.20","offer_10_year_fixed_va_property_value":"452500.00","offer_10_year_fixed_va_loan_amount":"362000.00","offer_10_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_30_years_principal_and_interest":"2200.00","offer_30_years_rate":"6.125","offer_30_years_apr":"6.335","offer_30_years_discount_points":"1.297","offer_30_years_cost_of_discount_points":"4695.14","offer_30_years_total_fee_amount":"5792.20","offer_30_years_property_value":"452500.00","offer_30_years_loan_amount":"362000.00","offer_30_years_upfront_mortgage_insurance":"0.00","offer_25_years_principal_and_interest":"2360.00","offer_25_years_rate":"6.125","offer_25_years_apr":"6.368","offer_25_years_discount_points":"1.355","offer_25_years_cost_of_discount_points":"4905.10","offer_25_years_total_fee_amount":"5792.20","offer_25_years_property_value":"452500.00","offer_25_years_loan_amount":"362000.00","offer_25_years_upfront_mortgage_insurance":"0.00","offer_20_years_principal_and_interest":"2591.00","offer_20_years_rate":"5.990","offer_20_years_apr":"6.276","offer_20_years_discount_points":"1.368","offer_20_years_cost_of_discount_points":"4952.16","offer_20_years_total_fee_amount":"5792.20","offer_20_years_property_value":"452500.00","offer_20_years_loan_amount":"362000.00","offer_20_years_upfront_mortgage_insurance":"0.00","offer_15_years_principal_and_interest":"2910.00","offer_15_years_rate":"5.250","offer_15_years_apr":"5.612","offer_15_years_discount_points":"1.433","offer_15_years_cost_of_discount_points":"5187.46","offer_15_years_total_fee_amount":"5792.20","offer_15_years_property_value":"452500.00","offer_15_years_loan_amount":"362000.00","offer_15_years_upfront_mortgage_insurance":"0.00","offer_10_years_principal_and_interest":"3884.00","offer_10_years_rate":"5.250","offer_10_years_apr":"5.778","offer_10_years_discount_points":"1.482","offer_10_years_cost_of_discount_points":"5364.84","offer_10_years_total_fee_amount":"5792.20","offer_10_years_property_value":"452500.00","offer_10_years_loan_amount":"362000.00","offer_10_years_upfront_mortgage_insurance":"0.00","offer_26_years_principal_and_interest":"2321.95","offer_26_years_rate":"6.125","offer_26_years_apr":"6.356","offer_26_years_discount_points":"1.297","offer_26_years_cost_of_discount_points":"4695.14","offer_26_years_total_fee_amount":"5792.20","offer_26_years_property_value":"452500.00","offer_26_years_loan_amount":"362000.00","offer_26_years_upfront_mortgage_insurance":"0.00","offer_27_years_principal_and_interest":"2287.16","offer_27_years_rate":"6.125","offer_27_years_apr":"6.350","offer_27_years_discount_points":"1.297","offer_27_years_cost_of_discount_points":"4695.14","offer_27_years_total_fee_amount":"5792.20","offer_27_years_property_value":"452500.00","offer_27_years_loan_amount":"362000.00","offer_27_years_upfront_mortgage_insurance":"0.00","offer_28_years_principal_and_interest":"2255.37","offer_28_years_rate":"6.125","offer_28_years_apr":"6.344","offer_28_years_discount_points":"1.297","offer_28_years_cost_of_discount_points":"4695.14","offer_28_years_total_fee_amount":"5792.20","offer_28_years_property_value":"452500.00","offer_28_years_loan_amount":"362000.00","offer_28_years_upfront_mortgage_insurance":"0.00","offer_29_years_principal_and_interest":"2226.26","offer_29_years_rate":"6.125","offer_29_years_apr":"6.339","offer_29_years_discount_points":"1.297","offer_29_years_cost_of_discount_points":"4695.14","offer_29_years_total_fee_amount":"5792.20","offer_29_years_property_value":"452500.00","offer_29_years_loan_amount":"362000.00","offer_29_years_upfront_mortgage_insurance":"0.00","offer_5/6_arm_principal_and_interest":"2084.00","offer_5/6_arm_rate":"5.625","offer_5/6_arm_apr":"6.521","offer_5/6_arm_discount_points":"1.559","offer_5/6_arm_cost_of_discount_points":"5643.58","offer_5/6_arm_total_fee_amount":"5792.20","offer_5/6_arm_property_value":"452500.00","offer_5/6_arm_loan_amount":"362000.00","offer_5/6_arm_upfront_mortgage_insurance":"0.00","offer_7/6_arm_principal_and_interest":"2113.00","offer_7/6_arm_rate":"5.750","offer_7/6_arm_apr":"6.455","offer_7/6_arm_discount_points":"1.561","offer_7/6_arm_cost_of_discount_points":"5650.82","offer_7/6_arm_total_fee_amount":"5792.20","offer_7/6_arm_property_value":"452500.00","offer_7/6_arm_loan_amount":"362000.00","offer_7/6_arm_upfront_mortgage_insurance":"0.00","offer_10/6_arm_principal_and_interest":"2141.00","offer_10/6_arm_rate":"5.875","offer_10/6_arm_apr":"6.388","offer_10/6_arm_discount_points":"1.468","offer_10/6_arm_cost_of_discount_points":"5314.16","offer_10/6_arm_total_fee_amount":"5792.20","offer_10/6_arm_property_value":"452500.00","offer_10/6_arm_loan_amount":"362000.00","offer_10/6_arm_upfront_mortgage_insurance":"0.00","as_of_date":"2025-12-12"}.offer_20_years_rate}%`}, LTV 80% is $2591.00 for full Principal and Interest Payments with $4952.16 due at closing. The Annual Percentage Rate is 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st_of_discount_points":"5187.46","offer_15_years_total_fee_amount":"5792.20","offer_15_years_property_value":"452500.00","offer_15_years_loan_amount":"362000.00","offer_15_years_upfront_mortgage_insurance":"0.00","offer_10_years_principal_and_interest":"3884.00","offer_10_years_rate":"5.250","offer_10_years_apr":"5.778","offer_10_years_discount_points":"1.482","offer_10_years_cost_of_discount_points":"5364.84","offer_10_years_total_fee_amount":"5792.20","offer_10_years_property_value":"452500.00","offer_10_years_loan_amount":"362000.00","offer_10_years_upfront_mortgage_insurance":"0.00","offer_26_years_principal_and_interest":"2321.95","offer_26_years_rate":"6.125","offer_26_years_apr":"6.356","offer_26_years_discount_points":"1.297","offer_26_years_cost_of_discount_points":"4695.14","offer_26_years_total_fee_amount":"5792.20","offer_26_years_property_value":"452500.00","offer_26_years_loan_amount":"362000.00","offer_26_years_upfront_mortgage_insurance":"0.00","offer_27_years_principal_and_interest":"2287.16","offer_27_years_rate":"6.125","offer_27_years_apr":"6.350","offer_27_years_discount_points":"1.297","offer_27_years_cost_of_discount_points":"4695.14","offer_27_years_total_fee_amount":"5792.20","offer_27_years_property_value":"452500.00","offer_27_years_loan_amount":"362000.00","offer_27_years_upfront_mortgage_insurance":"0.00","offer_28_years_principal_and_interest":"2255.37","offer_28_years_rate":"6.125","offer_28_years_apr":"6.344","offer_28_years_discount_points":"1.297","offer_28_years_cost_of_discount_points":"4695.14","offer_28_years_total_fee_amount":"5792.20","offer_28_years_property_value":"452500.00","offer_28_years_loan_amount":"362000.00","offer_28_years_upfront_mortgage_insurance":"0.00","offer_29_years_principal_and_interest":"2226.26","offer_29_years_rate":"6.125","offer_29_years_apr":"6.339","offer_29_years_discount_points":"1.297","offer_29_years_cost_of_discount_points":"4695.14","offer_29_years_total_fee_amount":"5792.20","offer_29_years_property_value":"452500.00","offer_29_years_loan_amount":"362000.00","offer_29_years_upfront_mortgage_insurance":"0.00","offer_5/6_arm_principal_and_interest":"2084.00","offer_5/6_arm_rate":"5.625","offer_5/6_arm_apr":"6.521","offer_5/6_arm_discount_points":"1.559","offer_5/6_arm_cost_of_discount_points":"5643.58","offer_5/6_arm_total_fee_amount":"5792.20","offer_5/6_arm_property_value":"452500.00","offer_5/6_arm_loan_amount":"362000.00","offer_5/6_arm_upfront_mortgage_insurance":"0.00","offer_7/6_arm_principal_and_interest":"2113.00","offer_7/6_arm_rate":"5.750","offer_7/6_arm_apr":"6.455","offer_7/6_arm_discount_points":"1.561","offer_7/6_arm_cost_of_discount_points":"5650.82","offer_7/6_arm_total_fee_amount":"5792.20","offer_7/6_arm_property_value":"452500.00","offer_7/6_arm_loan_amount":"362000.00","offer_7/6_arm_upfront_mortgage_insurance":"0.00","offer_10/6_arm_principal_and_interest":"2141.00","offer_10/6_arm_rate":"5.875","offer_10/6_arm_apr":"6.388","offer_10/6_arm_discount_points":"1.468","offer_10/6_arm_cost_of_discount_points":"5314.16","offer_10/6_arm_total_fee_amount":"5792.20","offer_10/6_arm_property_value":"452500.00","offer_10/6_arm_loan_amount":"362000.00","offer_10/6_arm_upfront_mortgage_insurance":"0.00","as_of_date":"2025-12-12"}.offer_20_years_apr}%`}. No prepayment penalty. Payment shown does not include taxes and insurance. The actual payment amount will be greater. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

8 30-YEAR Payment Example: The payment for a 30-year term, loan amount $362000.00, Rate {`${{"offer_30_year_fixed_fha_principal_and_interest":"2063.00","offer_30_year_fixed_fha_rate":"5.375","offer_30_year_fixed_fha_apr":"6.108","offer_30_year_fixed_fha_discount_points":"1.479","offer_30_year_fixed_fha_cost_of_discount_points":"5353.98","offer_30_year_fixed_fha_total_fee_amount":"5792.20","offer_30_year_fixed_fha_property_value":"452500.00","offer_30_year_fixed_fha_loan_amount":"362000.00","offer_30_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_20_year_fixed_fha_principal_and_interest":"2508.00","offer_20_year_fixed_fha_rate":"5.375","offer_20_year_fixed_fha_apr":"6.345","offer_20_year_fixed_fha_discount_points":"1.734","offer_20_year_fixed_fha_cost_of_discount_points":"6277.08","offer_20_year_fixed_fha_total_fee_amount":"5792.20","offer_20_year_fixed_fha_property_value":"452500.00","offer_20_year_fixed_fha_loan_amount":"362000.00","offer_20_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_15_year_fixed_fha_principal_and_interest":"2913.00","offer_15_year_fixed_fha_rate":"5.000","offer_15_year_fixed_fha_apr":"5.771","offer_15_year_fixed_fha_discount_points":"1.437","offer_15_year_fixed_fha_cost_of_discount_points":"5201.94","offer_15_year_fixed_fha_total_fee_amount":"5792.20","offer_15_year_fixed_fha_property_value":"452500.00","offer_15_year_fixed_fha_loan_amount":"362000.00","offer_15_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_10_year_fixed_fha_principal_and_interest":"3907.00","offer_10_year_fixed_fha_rate":"5.000","offer_10_year_fixed_fha_apr":"6.048","offer_10_year_fixed_fha_discount_points":"1.437","offer_10_year_fixed_fha_cost_of_discount_points":"5201.94","offer_10_year_fixed_fha_total_fee_amount":"5792.20","offer_10_year_fixed_fha_property_value":"452500.00","offer_10_year_fixed_fha_loan_amount":"362000.00","offer_10_year_fixed_fha_upfront_mortgage_insurance":"6335.00","offer_30_year_fixed_va_principal_and_interest":"2052.00","offer_30_year_fixed_va_rate":"5.375","offer_30_year_fixed_va_apr":"5.648","offer_30_year_fixed_va_discount_points":"1.267","offer_30_year_fixed_va_cost_of_discount_points":"4586.54","offer_30_year_fixed_va_total_fee_amount":"4297.20","offer_30_year_fixed_va_property_value":"452500.00","offer_30_year_fixed_va_loan_amount":"362000.00","offer_30_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_20_year_fixed_va_principal_and_interest":"2495.00","offer_20_year_fixed_va_rate":"5.375","offer_20_year_fixed_va_apr":"5.754","offer_20_year_fixed_va_discount_points":"1.362","offer_20_year_fixed_va_cost_of_discount_points":"4930.44","offer_20_year_fixed_va_total_fee_amount":"4297.20","offer_20_year_fixed_va_property_value":"452500.00","offer_20_year_fixed_va_loan_amount":"362000.00","offer_20_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_15_year_fixed_va_principal_and_interest":"2875.00","offer_15_year_fixed_va_rate":"4.875","offer_15_year_fixed_va_apr":"5.381","offer_15_year_fixed_va_discount_points":"1.575","offer_15_year_fixed_va_cost_of_discount_points":"5701.50","offer_15_year_fixed_va_total_fee_amount":"4297.20","offer_15_year_fixed_va_property_value":"452500.00","offer_15_year_fixed_va_loan_amount":"362000.00","offer_15_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_10_year_fixed_va_principal_and_interest":"3865.00","offer_10_year_fixed_va_rate":"4.875","offer_10_year_fixed_va_apr":"5.599","offer_10_year_fixed_va_discount_points":"1.575","offer_10_year_fixed_va_cost_of_discount_points":"5701.50","offer_10_year_fixed_va_total_fee_amount":"4297.20","offer_10_year_fixed_va_property_value":"452500.00","offer_10_year_fixed_va_loan_amount":"362000.00","offer_10_year_fixed_va_upfront_mortgage_insurance":"4525.00","offer_30_years_principal_and_interest":"2200.00","offer_30_years_rate":"6.125","offer_30_years_apr":"6.335","offer_30_years_discount_points":"1.297","offer_30_years_cost_of_discount_points":"4695.14","offer_30_years_total_fee_amount":"5792.20","offer_30_years_property_value":"452500.00","offer_30_years_loan_amount":"362000.00","offer_30_years_upfront_mortgage_insurance":"0.00","offer_25_years_principal_and_interest":"2360.00","offer_25_years_rate":"6.125","offer_25_years_apr":"6.368","offer_25_years_discount_points":"1.355","offer_25_years_cost_of_discount_points":"4905.10","offer_25_years_total_fee_amount":"5792.20","offer_25_years_property_value":"452500.00","offer_25_years_loan_amount":"362000.00","offer_25_years_upfront_mortgage_insurance":"0.00","offer_20_years_principal_and_interest":"2591.00","offer_20_years_rate":"5.990","offer_20_years_apr":"6.276","offer_20_years_discount_points":"1.368","offer_20_years_cost_of_discount_points":"4952.16","offer_20_years_total_fee_amount":"5792.20","offer_20_years_property_value":"452500.00","offer_20_years_loan_amount":"362000.00","offer_20_years_upfront_mortgage_insurance":"0.00","offer_15_years_principal_and_interest":"2910.00","offer_15_years_rate":"5.250","offer_15_years_apr":"5.612","offer_15_years_discount_points":"1.433","offer_15_years_cost_of_discount_points":"5187.46","offer_15_years_total_fee_amount":"5792.20","offer_15_years_property_value":"452500.00","offer_15_years_loan_amount":"362000.00","offer_15_years_upfront_mortgage_insurance":"0.00","offer_10_years_principal_and_interest":"3884.00","offer_10_years_rate":"5.250","offer_10_years_apr":"5.778","offer_10_years_discount_points":"1.482","offer_10_years_cost_of_discount_points":"5364.84","offer_10_years_total_fee_amount":"5792.20","offer_10_years_property_value":"452500.00","offer_10_years_loan_amount":"362000.00","offer_10_years_upfront_mortgage_insurance":"0.00","offer_26_years_principal_and_interest":"2321.95","offer_26_years_rate":"6.125","offer_26_years_apr":"6.356","offer_26_years_discount_points":"1.297","offer_26_years_cost_of_discount_points":"4695.14","offer_26_years_total_fee_amount":"5792.20","offer_26_years_property_value":"452500.00","offer_26_years_loan_amount":"362000.00","offer_26_years_upfront_mortgage_insurance":"0.00","offer_27_years_principal_and_interest":"2287.16","offer_27_years_rate":"6.125","offer_27_years_apr":"6.350","offer_27_years_discount_points":"1.297","offer_27_years_cost_of_discount_points":"4695.14","offer_27_years_total_fee_amount":"5792.20","offer_27_years_property_value":"452500.00","offer_27_years_loan_amount":"362000.00","offer_27_years_upfront_mortgage_insurance":"0.00","offer_28_years_principal_and_interest":"2255.37","offer_28_years_rate":"6.125","offer_28_years_apr":"6.344","offer_28_years_discount_points":"1.297","offer_28_years_cost_of_discount_points":"4695.14","offer_28_years_total_fee_amount":"5792.20","offer_28_years_property_value":"452500.00","offer_28_years_loan_amount":"362000.00","offer_28_years_upfront_mortgage_insurance":"0.00","offer_29_years_principal_and_interest":"2226.26","offer_29_years_rate":"6.125","offer_29_years_apr":"6.339","offer_29_years_discount_points":"1.297","offer_29_years_cost_of_discount_points":"4695.14","offer_29_years_total_fee_amount":"5792.20","offer_29_years_property_value":"452500.00","offer_29_years_loan_amount":"362000.00","offer_29_years_upfront_mortgage_insurance":"0.00","offer_5/6_arm_principal_and_interest":"2084.00","offer_5/6_arm_rate":"5.625","offer_5/6_arm_apr":"6.521","offer_5/6_arm_discount_points":"1.559","offer_5/6_arm_cost_of_discount_points":"5643.58","offer_5/6_arm_total_fee_amount":"5792.20","offer_5/6_arm_property_value":"452500.00","offer_5/6_arm_loan_amount":"362000.00","offer_5/6_arm_upfront_mortgage_insurance":"0.00","offer_7/6_arm_principal_and_interest":"2113.00","offer_7/6_arm_rate":"5.750","offer_7/6_arm_apr":"6.455","offer_7/6_arm_discount_points":"1.561","offer_7/6_arm_cost_of_discount_points":"5650.82","offer_7/6_arm_total_fee_amount":"5792.20","offer_7/6_arm_property_value":"452500.00","offer_7/6_arm_loan_amount":"362000.00","offer_7/6_arm_upfront_mortgage_insurance":"0.00","offer_10/6_arm_principal_and_interest":"2141.00","offer_10/6_arm_rate":"5.875","offer_10/6_arm_apr":"6.388","offer_10/6_arm_discount_points":"1.468","offer_10/6_arm_cost_of_discount_points":"5314.16","offer_10/6_arm_total_fee_amount":"5792.20","offer_10/6_arm_property_value":"452500.00","offer_10/6_arm_loan_amount":"362000.00","offer_10/6_arm_upfront_mortgage_insurance":"0.00","as_of_date":"2025-12-12"}.offer_30_years_rate}%`}, LTV 80% is $2200.00 for full Principal and Interest Payments with $4695.14 due at closing. The Annual Percentage Rate is 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This is a short-term loan with higher monthly payments and less total interest. Ideal for those who can afford higher payments.


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20-Year

With stable payments and moderate total interest paid, this loan is great for those who want a shorter term without a high payment.


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30-Year

SoFi’s longest term, featuring low monthly payments but more total interest paid. Great for those who want a lower monthly payment.


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FAQs



Can you get a fixed-rate mortgage for 15 years?


Yes, you can get a fixed-rate mortgage for 15 years. This type of loan offers a consistent interest rate and payment for the entire 15-year term. It’s an attractive option for those who want to pay off their mortgage sooner and save money on interest.



What are the benefits of choosing a 15-year fixed mortgage?


The main benefits of a 15-year fixed mortgage are a lower interest rate and a faster payoff period. You will save a substantial amount of money on interest over the life of the loan and build equity in your home much more quickly.




How do 15-year fixed mortgage rates compare to 30-year rates?


Fifteen-year fixed mortgage rates are typically lower than 30-year rates. This is because the lender takes on less risk with a shorter loan term. While the monthly payments are higher, the lower interest rate and quicker payoff lead to significant savings on total interest paid.




Is a 15-year fixed mortgage a good option for first-time homebuyers?


A 15-year fixed mortgage may not be the best choice for all first-time homebuyers due to the higher monthly payments. However, it can be a great option for those with stable, high incomes and a solid financial position who are comfortable with the larger payment and want to pay off their home quickly.



How do I qualify for a 15-year fixed mortgage rate?


To qualify for a 15-year fixed mortgage, you generally need a strong credit score, a low debt-to-income ratio, and a stable income that can support the higher monthly payments. Lenders want to ensure you have the financial capacity to comfortably make the larger payments for the shorter loan term.




Can I make extra payments to pay off a 15-year mortgage sooner?


Yes, you can make extra payments to pay off a 15-year mortgage even sooner. Any additional payments you make toward the principal balance will reduce the amount of interest you pay over time and shorten the life of your loan. Some common strategies include making biweekly payments or rounding up your monthly payment.




Can I refinance to a 15-year mortgage?


Yes, you can refinance to a 15-year mortgage. Many homeowners with a 30-year loan choose to refinance to a 15-year term to pay off their home sooner, save money on interest, and build equity more quickly. This option is most suitable if you can comfortably handle the higher monthly payments.


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Sep
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2025

Business Loan Calculator

By | Uncategorized | Comments Off on Business Loan Calculator


Business Loan Calculator

By Lauren Ward | Updated September 15, 2025

Navigating the world of business loans can be complex, but our business loan calculator simplifies the process. Use this tool to estimate your monthly payments, total interest, and overall loan cost, helping you make informed financial decisions for your business.



How to Use Our Business Loan Calculator

Using a business loan calculator is straightforward. Follow this guide to get the most accurate results.

Step One: Choose a Loan Amount

Select a loan amount between $5,000 and $100,000. Simply drag the slider to your chosen amount.

Step Two: Input Your Annual Interest Rate

To understand the cost of your loan, you’ll need to enter in a business loan interest rate. Your own rate will vary depending on your business and personal credit scores, as well as other factors.

Step Three: Choose a Loan Term

The loan term is the length of time you’ll make payments. Terms range between one and 10 years. This is one of the best uses of a small business loan calculator because it can quickly show you how much your payments will change with different term lengths. You can also see how much you’ll pay or save in interest with different terms.

Step Four: Enter Origination Fee

The origination fee is a one-time fee charged by the lender. The amount you’ll pay will depend on various factors, such as your loan amount and credit risk. It typically ranges from 1% to 5% of the loan.


Grow Your Business the Right Way

Explore small business funding options in one place with no impact to your credit score.†


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Understanding the Calculator Results

Once you’ve entered in the above information, the business loan payment calculator will give you four pieces of information:

•  Estimated monthly payment

•  Total interest paid

•  Origination fee amount

•  Total repayment amount

Keep in mind that your origination fee will most likely get subtracted from your total amount borrowed. If you have an exact amount needed, you may need to borrow more than you originally planned.

The total repayment amount is calculated by adding the origination fee, total interest, and the loan amount. You can tweak your loan term to change your estimated monthly payment amount. A shorter loan term will require a higher monthly payment, but you’ll save in interest over the life of the loan.

Tips for Adjusting Loan Parameters

There are a few things to keep in mind when adjusting your loan characteristics in the calculator.

First, remember to play around with different loan terms. This feature affects both your monthly payment and total interest paid. To determine which loan term you should choose, look at your expected monthly revenue. Your monthly payment should be lower than your revenue with some cushion factored in.

Once you understand your monthly payment with a business loan, you may want to compare it with other types of financing, such as a line of credit.

Types of Business Loans

A business loan calculator can help you estimate the cost of an installment loan spread out over a set period of time. These can be structured in different ways, and you can also explore other types of business loans to grow your company.

There are four common types of business financing to consider.

Small Business Loans

Small business loans are installment loans and can be found through banks, credit unions, and online lenders. Once approved, the business receives a one-time lump sum of money. Like a personal loan, the business loan’s principal is repaid over time, usually in equal installments.

A small business loan can be secured with collateral or unsecured. There’s also flexibility with interest rates; while usually fixed, you may also find variable options. In order to qualify, you typically need to meet revenue, credit score, and time in business requirements.

Benefits:

•  Easy to budget with fixed installment payments

•  Funds can be used with minimal restrictions

•  Larger loan amounts and longer repayment terms

Equipment Financing

Equipment financing is used to pay for specific equipment purchases. It’s secured by the asset you’re buying and you could finance up to 100% of the purchase price. Often, you can also roll in soft costs, such as taxes or delivery fees.

Benefits:

•  Many business expenses qualify as equipment, not just heavy machinery

•  Rates are often favorable because the loan is secured by your purchase

•  Business capital reserves remain intact

Business Lines of Credit

A business line of credit gives you ongoing access to financing instead of a single lump sum. You can repay the outstanding balance to replenish your credit line and borrow again at a later date.

Benefits:

•  Ongoing access to capital for emergencies or growth opportunities

•  Streamline uneven cash flow

•  Only pay interest on your unpaid balance

Microloans

Microloans are small installment loans that can help startups and fledgling businesses get access to credit. The eligibility standards for microloans are usually less stringent than other loan options and can get you working capital sooner.

Most private lenders and SBA lenders usually offer microloans of up to $50,000, while the average SBA microloan is $13,000. The repayment period is usually shorter, allowing you to get out of debt faster.

Benefits:

•  Lower revenue and time in business requirements

•  Available through either the SBA or private lenders

•  Funds can be used for flexible purposes

Which Loan Type Is Right for You?

Before you apply for a business loan, look at the eligibility requirements and the financing structure to find the right fit. Equipment financing, for example, can come with favorable terms, but you’ll actually have less flexibility in how you use the funds than with the other types of loans.

A microloan is best suited for newer companies with limited startup capital. A business line of credit, on the other hand, could be beneficial for seasonal businesses with uneven cash flow throughout the year.

Just as with any type of financing, compare multiple lenders to look at loan terms, interest rates, and fees that could impact the final cost.

Alternative Ways to Finance Your Business

Looking for access to capital that’s not through a traditional business loan? Consider crowdfunding or grants.

Business crowdfunding lets you take your business to the public and raise funds with contributions. Oftentimes, you may pledge product or equity in exchange for upfront cash.

Business grants are competitive, but come with the major benefit that you’re not required to pay back the funds. Search for grants that you’re eligible for, whether by industry or owner demographic.

Apply for a Small Business Loan

Using a business loan calculator is a straightforward yet powerful way to gain clarity and confidence in your business financial planning. By inputting details such as the loan amount, interest rate, and repayment term, you can quickly see an estimate of your monthly payments and total interest costs.

If you’re seeking financing for your business, SoFi is here to support you. On SoFi’s marketplace, you can shop and compare financing options for your business in minutes.


With one simple search, see if you qualify and explore quotes for your business.


See funding options

FAQ

What are typical interest rates for business loans?

Business loan interest rates vary based on factors like your business, loan amount, broader rates, and collateral. The type of lender also affects your rate. SBA interest, for instance, ranges from 11% to 16%, while an online term loan can go anywhere from 6% to 75%.

How does my credit score affect my ability to get a business loan?

Your personal and business credit scores significantly impact your ability to get a business loan. A higher score improves your chances of approval and can secure better interest rates and terms, while a lower score may limit your options or result in higher costs.

What documents do I typically need to apply for a business loan?

Most business loan applications require a fair amount of documentation, including:

•  Bank statements

•  Tax returns

•  Legal documents

•  Personal identification

•  Business plan

•  Revenue statements

•  Accounts receivable and payable

What’s the main difference between a term loan and a line of credit?

A term loan provides the business with a one-time lump sum of cash. The principal and interest are usually repaid in fixed installments over time. A line of credit, on the other hand, provides access to a credit line. Funds can be withdrawn at any time during the draw period. Interest is only charged on the balance.

How can I improve my chances of getting approved for a business loan?

To improve your chances of getting approved for a business loan, enhance your credit score, provide a solid business plan, demonstrate strong financial health, and show a clear need for the funds. Additionally, consider building relationships with lenders and having all required documentation ready.

SoFi's marketplace is owned and operated by SoFi Lending Corp.


Advertising Disclosures: The preliminary options presented on this site are from lenders and providers that pay SoFi compensation for marketing their products and services. This affects whether a product or service is presented on this site. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider. See SoFi Lending Corp. licensing information below.



This content is provided for informational and educational purposes only and should not be construed as financial advice.


Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.



SOSMB-Q325-013

SoFi receives compensation in the event you obtain a loan, financial product, or service through SoFi’s marketplace. This webpage is owned and operated by SoFi Lending Corp., licensed by the Department of Financial Protection and Innovation under the California Financing Law, license number 6054612; NMLS number 1121636. ((www.nmlsconsumeraccess.org)). This page is NOT operated by SoFi Bank. Loans, financial products, and services may not be available in all states. All loan terms, including interest rate, and Annual Percentage Rate (APR), and monthly payments shown through SoFi’s marketplace are from providers and are estimates based upon the limited information you provided and are for informational purposes only. All rates, fees, and terms are presented without guarantee and are subject to change pursuant to each provider’s discretion. Estimated APR includes all applicable fees as required under the Truth in Lending Act. The actual loan terms you receive, including APR, will depend on the provider you select, their underwriting criteria, and your personal financial factors. The loan terms and rates presented are provided by the providers and not by SoFi Lending Corp. Please review each provider’s Terms and Conditions for additional details.

*Small Business Loans: Reference to “same day funding” or “funding within 24 hours” describes a general capability of many lenders you can reach through SoFi’s marketplace. Funding or funding timing is not guaranteed. Your experience with any lender will vary based on requirements of the lender and the loan you apply for. To determine the timing of funds availability, you must inquire directly with any lender. In addition, your access to any funds from a loan may be dependent on your bank’s ability to clear a transfer and make funds available.

†Credit score impact: To check the options, terms, and/or rates you may qualify for, SoFi and/or its network providers will conduct a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the provider(s) you choose will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit. Rates may not be available from all providers.

©2025 SoFi Lending Corp. All rights reserved.

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Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 696891. (www.nmlsconsumeraccess.org)

✝︎ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

INVESTMENTS: NOT FDIC INSURED • HAVE NO GUARANTEE • MAY LOSE VALUE. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The SoFi Wealth platform is operated and maintained by SoFi Wealth LLC, an SEC Registered Investment Advisor. Brokerage services are provided to clients of SoFi Wealth LLC by SoFi Securities LLC, an affiliated broker-dealer registered with the Securities and Exchange Commission and a member of FINRA /SIPC . Clearing and custody of all securities are provided by APEX Clearing Corporation. For more information, please see SoFi Wealth LLC’s Form ADV Part 2 by clicking here for SoFi's Wealth Form ADV Part 2 A&B or by visiting www.adviserinfo.sec.gov .
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