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ClearValue Lending

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Mortgages

Purchase mortgages, refinance, HELOC, jumbo, FHA, VA — the loan products underneath the largest single financial decision most households make.

Compare Mortgages

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What to know before you compare

Mortgages are heavily regulated and the rate spread between top-quartile and median lenders is typically 25-75 bps — meaningful money on a $400K loan over 30 years. The 2026 market splits between large banks (Chase, Wells Fargo, Bank of America), nonbank mortgage specialists (Rocket Mortgage, Better, loanDepot), credit unions (often the strongest combination of rate + service for members), and the FHA/VA-direct specialists.

Pre-approval (not just pre-qualification) and shopping at least 3-4 lenders within a 14-day window (which counts as a single credit inquiry for scoring purposes) are the two disciplines that capture most of the available rate improvement.

◆ ClearValue editorial analysis

Where mortgage rates actually stand right now

Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed-rate mortgage at 6.76% as of September 10, 2026 — up from 6.71% the prior week and above the 6.35% recorded the same week a year earlier. The 15-year fixed-rate mortgage averaged 6.09% over the same week, up from 6.04%, and also higher than the 5.50% seen a year prior. Rates move weekly, so treat any single figure as a snapshot, not a locked-in number — but the year-over-year direction (both terms up 40+ bps) is a real trend, not noise.

Primary sources: Freddie Mac — Primary Mortgage Market Survey (PMMS), week of September 10, 2026

Analysis by the ClearValue Editorial Team, applying our published scoring methodology.

This analysis combines cited public data (Federal Reserve, FDIC, FTC, CFPB, SBA/USDA, NAIC, ICI, BLS) with ClearValue's own cost math and category comparison — it is not proprietary ClearValue portfolio data. Rates, APYs, fees, and program terms move; figures carry an as-of date and you should verify current numbers at the linked primary sources and with the provider before deciding. Educational information, not financial, legal, or tax advice.

Frequently asked questions

What credit score do you need to buy a house?+

Requirements vary by loan program. Conventional loans generally start around 620, FHA loans can go lower — often 580 with a 3.5% down payment, or 500 with 10% down — and VA and USDA loans have no fixed minimum but lenders set overlays, frequently around 620. Higher scores unlock better rates and lower mortgage insurance costs. Lenders also weigh income, debt-to-income ratio, and down payment alongside the score.

What is the difference between pre-qualification and pre-approval?+

Pre-qualification is an informal estimate based on self-reported information, useful for a rough budget. Pre-approval is a more rigorous step where the lender verifies income, assets, and credit and issues a conditional commitment for a specific amount. Sellers and agents take pre-approval far more seriously, and in competitive markets it is often expected with an offer. Pre-approval involves a hard credit inquiry; pre-qualification usually does not.

How much should you put down on a house?+

There is no universal answer. Conventional loans can allow as little as 3% down, FHA loans 3.5%, and VA and USDA loans 0% for eligible borrowers, while 20% down avoids private mortgage insurance on conventional loans. A larger down payment lowers the loan amount, monthly payment, and total interest, but tying up too much cash can leave you without reserves. The right figure balances payment, PMI, and liquidity.

What is the difference between a fixed-rate and adjustable-rate mortgage?+

A fixed-rate mortgage keeps the same interest rate and principal-and-interest payment for the entire term, offering predictability. An adjustable-rate mortgage (ARM) starts with a lower fixed rate for an initial period — often five, seven, or ten years — then adjusts periodically based on an index, so payments can rise or fall. Fixed rates suit long-term holders; ARMs can favor those who expect to move or refinance before the rate adjusts.

What is private mortgage insurance (PMI)?+

Private mortgage insurance protects the lender, not the borrower, when a conventional loan has less than 20% down. It is added to the monthly payment and typically can be removed once the loan balance reaches about 80% of the original home value, and automatically terminates around 78% under federal rules. FHA loans carry a separate mortgage insurance premium with different removal rules. PMI raises the cost of a low-down-payment loan.

How many mortgage lenders should you compare?+

Comparing at least three to four lenders is a widely recommended discipline, because rate and fee spreads on the same borrower can be meaningful over a 30-year loan. Multiple mortgage inquiries made within a focused shopping window — commonly 14 to 45 days depending on the scoring model — are generally treated as a single inquiry, so rate-shopping does not heavily penalize your credit.

https://clearvaluelending.com/mortgages

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