The lowest headline rate isn't always the cheapest loan. We rank every lender by APR and the interest you'll actually pay — then show you the gap.
APRs are indicative and based on current rate observations. Your actual rate depends on credit score, income, down payment, and lender underwriting.
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Lowest modeled total cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Competitive modeled cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Competitive modeled cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Competitive modeled cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Competitive modeled cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Competitive modeled cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Competitive modeled cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Competitive modeled cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Competitive modeled cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Competitive modeled cost for this scenario.
You'll leave SwitchWize. Verify terms with the lender.
Sample scenario / national example — availability varies by state and borrower profile. Payments shown for a $320,000 loan at 20% down, 760+ credit. APR includes lender fees; taxes and insurance are excluded unless “Add taxes/ins.” is on. Lifetime interest assumes the loan is held to term. Your rate depends on full underwriting. How we rank & verify rates →
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Master your finances with our expert-curated guides and insights.
Choosing a mortgage lender is one of the highest-stakes financial decisions most people make — yet most borrowers accept the first or second offer they receive. On a $400,000 30-year mortgage, a difference of 0.25% in rate is worth approximately $20,000 over the life of the loan. A difference of 0.5% is worth $40,000. Shopping multiple lenders is the single highest-ROI action a homebuyer can take.
APR (Annual Percentage Rate) is the number that matters most for comparison — it folds in lender fees, points, and origination costs into a single annualized rate. A lender with a lower headline rate but high fees may have a higher APR, making them more expensive overall.
Get at least three loan estimates from different lender types: a national bank, an online lender, and a credit union. By law, each must give you a Loan Estimate within 3 business days — that document standardizes the format so you can compare apples to apples.
AI-assisted editorial · Reviewed by SwitchWize Research Desk · Rate data monitored regularly
APR includes fees and points. Two lenders quoting the same rate can have very different total costs.
Studies show getting 3+ quotes saves $1,500+ on a typical mortgage. It only takes a few hours.
Rate locks typically run 30–60 days. Lock when you're under contract to protect against rate increases while closing.
A pre-approval letter strengthens offers and gives you real rate quotes — not just estimates — before you shop.
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