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* The advertised rates also assume the borrower fully documents income, assets and liabilities, escrows for taxes and insurance, and there is no subordinate financing.

Rates on the move

Did you know that in 1981 mortgage rates hit a high of 18.45 percent? Or that the average since 1971 is 7.77 percent?

In times of fluctuating rates, AmeriSave is always here to help you find the best rate available to maximize your savings. Select a date to compare rates.

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Rates displayed are based on historical data from Freddie Mac. Listed rates are provided for general informational purposes about historical rate trends, and do not reflect historical rates of AmeriSave or rates that may be available at this time. See terms and conditions applicable to current rates. For current rates, click here.

Lock & Shop

Put a hold on rates with Lock & Shop. Once you’re preapproved for a loan, start shopping with the confidence that your rate is locked in for up to 90 days.

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Compare current
interest rates

Loan Type
Rate
APR

Lower monthly payments with a steady interest rate
Fixed-rate loans

A shorter term lets you pay off your loan sooner and pay less in total interest
Fixed-rate loans

An even shorter term allowing you to pay less in total interest.
Fixed-rate loans
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* The advertised rates also assume the borrower fully documents income, assets and liabilities, escrows for taxes and insurance, and there is no subordinate financing.

How rates affect
your mortgage

Enter your desired monthly payment to see how the home price you can afford changes at various rates.

5.50%

1.0%

10.0%

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*Ideal Monthly Payment" is just an estimate and does include all monthly costs, such as taxes and insurance. This material is provided for general and educational purposes only; it is not intended to provide legal, tax, or investment advice.

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Cash-out refi loans

Even in times of higher interest rates, mortgage rates are generally lower than credit card rates. Paying off higher interest debt with a cash-out refinance loan can save you thousands.

Learn more

You deserve options

Your mortgage should fit your needs and help you save the most you can. That's why we offer a variety of loan options.

Mortgage Loans FAQ

AmeriSave offers conventional and government-backed mortgage loans with various terms (e.g., 15 or 30 years) and interest rates.

Fixed-rate loans feature an interest rate that stays the same for the full term of the loan (for example, 15 or 30 years). An adjustable-rate mortgage or ARM, is a loan with an initial rate that is fixed for a specific term (for example, five to seven years), and then adjusts annually based on current interest rates. ARM loans typically have an initial interest rate that is lower than a 30-year fixed-rate loan, making it more desirable when rates are high.

Why would you want a loan that takes 30 years to pay off when you could get a 15-year loan and own your house 15 years sooner?

A 30-year loan spreads out your home mortgage over a longer period (typically with lower fixed interest rates), so you pay less each month, and potentially allows you to afford a more expensive home.

A 15-year loan will typically result in a higher monthly payment for the same loan amount but will cost you less in total mortgage interest because you pay the loan off sooner.

A conventional loan is any loan that is not guaranteed or insured by the federal government and is under a certain total loan amount. Conventional loans larger than $647,200 (2022 limits) are considered jumbo loans. Conventional loans also come with minimum requirements on credit scores and down payments.
Learn more about conventional mortgage loans

FHA loans are backed and insured by the Federal Housing Authority (FHA) and designed to help borrowers with lower credit scores or those wanting to make a lower down payment. Our dedicated experts can help you understand if you qualify for an FHA loan.
Learn more about FHA mortgage loans

The US Department of Veterans Affairs guarantees VA loans, which are available to military veterans and service members. Because VA loans are backed by the government, they offer more affordable terms with less stringent requirements, including lower credit scores and little to no down payment.
Learn more about VA loans

What’s in a rate?

Some FAQs about interest rates

Mortgage Rates FAQ

It’s important that you find a loan that fits your goals and budget. We start by asking questions, such as whether you want to refinance or purchase a home.

For buyers, we ask about the home price, your location, your income, whether you already own a home, and other details that inform how big a loan you need, whether you qualify for any federal programs, and what you can afford.

For those who wish to refinance, we ask about how much equity is in the home, how much is owed, what your goals are (cash out, home improvement funding, lower monthly payment, etc.) and then determine the best loan for you.

Once you’ve answered those questions, we look for a loan (and a rate) that is the best fit for you—not someone else.

Borrowers with good credit scores typically have more options and are offered lower mortgage interest rates because lenders see them as a lower risk to not paying back the loan. Borrowers with poor credit scores are seen as a higher risk to the lender, which may offer higher rates as a result.

But an imperfect credit score (typically one under 620) is not a deal-breaker, particularly if you qualify for one of the government backed loans (FHA, VA, USDA, etc.), which have more lenient income and credit requirements. Lenders may also counter the risk of a borrower with a low credit score by offering a higher interest rate.
Learn more about credit scores and mortgage rates

APR is the annual percentage rate, which includes the interest rate plus loan fees and expenses. The interest rate is the percentage you pay to borrow money from a lender for the term of the loan.

Once you have been preapproved by a lender, you may be able to lock in your rate—particularly important at times when mortgage interest rates are on the rise. AmeriSave’s Lock & Shop program lets you lock in your rate for up to 90 days, giving you time to shop for a home without worrying about rising rates. It also comes with a Certified Approval Letter, which gives both the buyer and seller the confidence of knowing financing is already available.

Searching online for a low mortgage rate can return plenty of useful information about mortgage loans, the lending process, time to close, and which lenders consistently offer the lowest rates. Other criteria to consider include user reviews, recommendations from friends and family, and your own interaction with a lender.

If you chat online or call a lender, are they listening and responding with helpful information? Are they friendly or do they sound rushed? Customer service is important as you move through the application process. Homebuying and refinancing a loan can be tedious and take several weeks; you want a partner you can count on from now until closing day. At AmeriSave, we combine technology and a human touch to give our customers the best of both worlds: low rates and excellent service.

Read more about choosing lenders in Tips When Comparing Mortgage Lenders and Choosing a Refinance Lender That’s Right for You.

Want to keep track of rates?

Stay on top of interest rates with text alerts from MyAmeriSave. We’ll notify you of any significant rate fluctuations so you don’t miss a beat.

By clicking submit, you're enrolling in My AmeriSave which sends personalized offers via calls/texts from 990099 and our other numbers (auto selection/dialing used). You can opt out of receiving these messages at any time. Carrier fees may apply. Visit our Privacy Policy to learn about our commitment to your privacy and our personal information handling practices. To opt out of future marketing and advertising at any time, follow the opt out instructions listed in the Privacy Policy.

Tools for success

Try our calculators to estimate a payment, what size loan you can afford, and more.

Mortgage Payment Calculator

Calculate a monthly payment on any home price.

Refinance Calculator

Need cash or want to restructure your loan? Use this calculator to explore your options.

Loan Comparison Calculator

Get a side-by-side comparison of your loan options.

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from the experts

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Learn the ins and outs of mortgage rates (whether you’re buying or refinancing) so you can better compare loan rates, offers and make smarter financial decisions.

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Obtaining a preapproval is one of the first steps you should take in your house hunting process. It gives you leverage as a buyer and a borrower.

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How Your Credit Affects Your Mortgage Rates

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Learn how your credit score impacts your ability to buy or refinance a home and the rates you’re offered. We break it all down for you in plain language.

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