Illustration updated September 15, 2026
A sample rate sheet, clearly labelled as one
Every number on this page is an illustration for a demo website. It exists to show how programs relate to each other, not to quote you.
These are not quotes
The rates, APRs and payments below are sample figures published on a demonstration website. They are not an offer to lend, not a commitment and not a rate you can lock. Your actual pricing depends on credit score, loan amount, down payment, property type, occupancy, debt ratio and the day you lock. A real quote takes about fifteen minutes on the phone and costs nothing.
Purchase and refinance illustrations
Switch between the two tables. Payments shown are principal and interest only, so your real total will be higher once taxes and insurance are added.
| Program | Rate | APR | Points | P&I payment | Assumes |
|---|---|---|---|---|---|
| 30-year fixed, conventional | 6.375% | 6.492% | 0.000 | $2,246 | 20% down, 760+ score |
| 20-year fixed, conventional | 6.125% | 6.271% | 0.250 | $2,604 | 20% down, 760+ score |
| 15-year fixed, conventional | 5.625% | 5.798% | 0.000 | $2,965 | 20% down, 760+ score |
| 30-year fixed, FHA | 6.000% | 6.884% | 0.000 | $2,158 | 3.5% down, 680 score |
| 30-year fixed, VA | 5.875% | 6.143% | 0.000 | $2,129 | 0% down, 700 score |
| 30-year fixed, USDA | 6.000% | 6.354% | 0.000 | $2,158 | 0% down, 680 score |
| 30-year fixed, jumbo | 6.500% | 6.571% | 0.000 | $4,740 | 20% down, 760+ score |
| 7/6 ARM, jumbo | 5.990% | 6.812% | 0.000 | $4,489 | Fixed 7 years, then adjusts |
| Program | Rate | APR | Points | P&I payment | Assumes |
|---|---|---|---|---|---|
| 30-year fixed, rate and term | 6.500% | 6.618% | 0.000 | $2,276 | 70% loan-to-value, 760+ score |
| 20-year fixed, rate and term | 6.250% | 6.402% | 0.250 | $2,631 | 70% loan-to-value, 760+ score |
| 15-year fixed, rate and term | 5.750% | 5.931% | 0.000 | $2,990 | 70% loan-to-value, 760+ score |
| 30-year fixed, cash-out | 6.875% | 7.018% | 0.000 | $2,365 | 80% loan-to-value, 740+ score |
| 30-year fixed, FHA streamline | 6.125% | 7.004% | 0.000 | $2,189 | Existing FHA loan required |
| 30-year fixed, VA IRRRL | 5.750% | 6.011% | 0.000 | $2,102 | Existing VA loan required |
| HELOC, 10-year draw | 8.250% | 8.250% | 0.000 | Interest only | Variable, tied to prime |
What these illustrations assume
- Purchase examples assume a $450,000 single-family primary residence in Fulton County, Georgia, with the down payment shown and a 45-day lock.
- Refinance examples assume a $360,000 loan on a primary residence with the loan-to-value shown.
- Payments shown are principal and interest only. They exclude property taxes, homeowners insurance, HOA dues and mortgage insurance, which will increase your actual monthly payment.
- APR includes estimated lender fees and, where applicable, mortgage insurance. Third-party fees vary by closing attorney and county.
- Rates assume a debt-to-income ratio below 43% and no significant derogatory credit in the last 48 months.
Six things that move your number
Two of them you can change before you apply. The rest are what they are, and a good loan officer works around them.
Credit score
The largest single lever. Pricing steps at roughly 620, 660, 700, 740 and 760.
Down payment
More equity means less risk and better pricing, with breakpoints at 5%, 10% and 20%.
Property type
Single family prices best. Condos, multi-unit and manufactured homes carry adjustments.
Occupancy
A primary residence prices below a second home, which prices below an investment property.
Loan term
Shorter terms carry lower rates and higher payments. A 15-year typically prices well below a 30.
Points paid
Discount points buy the rate down. One point costs 1% of the loan amount.
Locking, floating and the float-down
You can lock once you are under contract. A lock freezes your rate for a set number of days, usually 30 to 60, and protects you if the market moves against you before closing. Longer locks cost slightly more.
Floating means you have not locked yet. It is a bet, and it is only worth making if you have time and a reason to think pricing will improve. Most of our purchase clients lock as soon as the contract is ratified.
We include a one-time float-down on purchase locks. If rates improve meaningfully between your lock and your closing, you get the better pricing rather than being stuck watching it from the wrong side.
Rate questions
They are illustrative sample figures published to show relationships between programs, not an offer or a quote. Your actual rate depends on credit, loan size, down payment, property type, occupancy and the day you lock. Call us for a real quote, which takes about fifteen minutes.
The rate determines your monthly principal and interest. The APR folds in most lender fees and expresses the total as an annualized percentage, so it is the fairer number for comparing two lenders. A low rate with high fees can carry a worse APR than a slightly higher rate with none.
Budget roughly 2% to 3% of the purchase price, covering title, attorney, appraisal, transfer tax, recording, lender fees and prepaid escrow. On a $375,000 home that is about $9,000 to $11,000 before any seller credit (sample figures).
Often yes, within program caps. Conventional allows 3% to 9% depending on down payment, FHA allows 6%, VA allows 4% in concessions plus all standard closing costs, and USDA allows 6%. We tell your agent the exact cap before the offer is written.
Magnolia Lending Group
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