Everything to know before you apply
Mortgages in United States are home-secured loans from lenders licensed here and supervised by OCC, FDIC and the CFPB. Product names differ by country — fixed, variable, tracker, further advance — so we compare the rate type, the binding period, fees and early-exit rules that this market actually uses.
Rate type and how long it is bound
A fixed period keeps the payment still until it ends. A variable or reference-linked rate can move. The cheaper starting rate is not always the cheaper loan over the years you will keep it. Fixed or variable sets out the trade-off. Sketch a monthly figure in the mortgage calculator before you ask for a written offer.
Costs besides the rate
- Arrangement, valuation and legal fees.
- Insurance the lender requires.
- Early-repayment or break costs if you move or refinance inside the binding period.
Add those before you pick a headline APR. A small rate gap is often smaller than one fee.
How much you can borrow
Lenders look at income, existing debt, the property and local loan-to-value limits. The calculator is a sketch, not a decision in principle. Browsing here does not check your credit file.
See also unsecured personal loans if you need a smaller amount without using the home as security, who lends in this market, and match for purchase or remortgage.