Example terms and APR
Every guide on this site uses example numbers to teach. This page shows real example terms, with the APR, so you can see the full picture behind them.
Purchase of a $450,000 single-family primary residence in Chesterfield County, Virginia; 740 credit score; 30-day rate lock; debt-to-income under 43%. Loan amounts are base loans; where an upfront FHA premium or VA funding fee is financed, it is added on top and the payment is figured on the total. Payments are principal and interest only. Terms as of November 9, 2026.
| Loan | Interest rate | APR | Payments | Loan amount | Down payment | Price |
|---|---|---|---|---|---|---|
| Conventional 30-year fixed Monthly mortgage insurance is added until it is removed. Includes 0.026% in discount points ($111). |
7.490% | 7.880% | 360 monthly payments of $2,986.22 | $427,500 base loan | 5% ($22,500) | $450,000 |
| Conventional 30-year fixed No mortgage insurance at 20% down. Includes 0.058% in discount points ($210). |
7.500% | 7.626% | 360 monthly payments of $2,517.17 | $360,000 base loan | 20% ($90,000) | $450,000 |
| FHA 30-year fixed The 1.75% upfront mortgage insurance premium is financed on top of the base loan; the 0.55% annual premium is added monthly for the life of the loan. Includes 0.181% in discount points ($802). |
6.750% | 7.597% | 360 monthly payments of $2,865.82 | $434,250 base loan plus $7,599 financed, $441,849 total |
3.5% ($15,750) | $450,000 |
| VA 30-year fixed The 2.15% first-use funding fee is financed on top of the base loan; no monthly mortgage insurance. Includes 0.176% in discount points ($809). |
6.875% | 7.203% | 360 monthly payments of $3,019.74 | $450,000 base loan plus $9,675 financed, $459,675 total |
0% ($0) | $450,000 |
| Conventional 15-year fixed No mortgage insurance at 20% down. Includes 0.010% in discount points ($36). |
7.125% | 7.313% | 180 monthly payments of $3,260.99 | $360,000 base loan | 20% ($90,000) | $450,000 |
How to read this table
The interest rate is what the loan charges on the balance. The APR adds certain loan costs to show the yearly cost of the loan, which is why it is higher. Compare APRs between two offers for the same loan amount and term, along with the rate, points and cash to close.
The payments shown are principal and interest only. Your real payment will be higher once property taxes, homeowners insurance, and any mortgage insurance or HOA dues are added.
Rates change daily and depend on your credit, your down payment, the property, the program and the lock period. Any rate on this site may change or may not be available at the time of loan commitment or lock-in. Your official Loan Estimate is the only quote that counts.