Fixed-Rate Mortgage
A locked interest rate and a payment that never changes — the most popular choice for buyers who value certainty and plan to stay in their home for years.
- 620+ credit score
- Steady 2-yr income
- DTI under 45%
- Primary or second home
Adjustable-Rate Mortgage (ARM)
A lower fixed rate for an introductory period (5, 7, or 10 years), then it adjusts with the market. Best when you expect to sell or refinance before the fixed period ends.
- 640+ credit score
- Rate caps disclosed upfront
- Shorter-term ownership plans
- DTI under 45%
FHA / First-Home Loan
Government-backed financing designed to open the door for first-time and lower-down-payment buyers, with flexible credit and as little as 3.5% down.
- 580+ credit score
- First-time buyers welcome
- Gift funds allowed
- Mortgage insurance applies
Refinance
Replace your current mortgage to lower your rate, shorten your term, or access equity with a cash-out refi. We calculate your break-even point so it only makes sense if it saves you money.
- 620+ credit score
- On-time payment history
- Current appraisal
- Break-even analysis included
Jumbo Loan
Financing for loan amounts above the conforming limit, for high-value and luxury homes. Competitive rates with underwriting tailored to complex incomes and larger balances.
- 700+ credit score
- Strong cash reserves
- Self-employed friendly
- DTI under 43%
Investment Property Loan
Purpose-built financing for rental and multi-unit properties, structured around your cash-flow goals. DSCR options available that qualify on property income rather than personal income.
- 680+ credit score
- Rental income considered
- Portfolio & LLC options
- 6 months reserves
Side by side
Compare loan products at a glance
A quick look at how our most popular loans stack up. Your personalized rate may be lower once we shop the market for you.
| Loan type | Rate from (APR) | Term options | Min. down | Min. credit | Best for |
|---|---|---|---|---|---|
| Fixed-Rate | 5.74% | 10–30 yr | 5% | 620 | Long-term stability |
| Adjustable (ARM) | 5.21% | 5/6, 7/6, 10/6 | 5% | 640 | Shorter ownership |
| FHA / First-Home | 5.49% | 15, 30 yr | 3.5% | 580 | First-time buyers |
| Refinance | 5.38% | 10–30 yr | 15% equity | 620 | Lower rate / cash-out |
| Jumbo | 6.05% | 15, 30 yr | 10% | 700 | High-value homes |
| Investment | 6.62% | 15, 30 yr | 20% | 680 | Rentals & portfolios |
Illustrative example rates for this template, effective for well-qualified borrowers. APR includes estimated fees and is not an offer to lend. Equal Housing Opportunity.
Good to know
Frequently asked questions
How is a mortgage broker different from a bank?
A bank can only offer its own mortgage products. As an independent broker, LendWell compares loans across 40+ lenders to find the best fit for your situation — then handles the application and underwriting on your behalf. You get more choice and an advocate who works for you, not the lender.
What does it cost to work with LendWell?
There's no fee to you for our brokerage service. We're compensated by the lender after your loan closes, and that compensation is disclosed in your loan documents. You'll still pay standard third-party closing costs (appraisal, title, taxes), which we itemize upfront so there are no surprises.
How much do I need for a down payment?
It depends on the loan. FHA loans start at 3.5% down, conventional fixed and ARM loans at 5%, jumbo loans at 10%, and investment properties at 20%. Putting less than 20% down on a conventional loan usually means private mortgage insurance (PMI), which can drop off later as you build equity.
Will getting pre-approved hurt my credit score?
No. Our pre-approval uses a soft credit check that does not affect your score. A hard inquiry only happens later, with your permission, once you move forward with a specific loan application.
How long does it take to close?
The average LendWell loan closes in about 21 days from a complete application, though timelines vary with appraisal scheduling and how quickly documents come back. We'll give you a realistic timeline at pre-approval and keep you updated at every step.
Can I get a loan if I'm self-employed?
Yes. Self-employed and business-owner borrowers are some of our specialties. We work with lenders that understand variable income, and we offer bank-statement and DSCR loan options that qualify differently from traditional W-2 underwriting.
Not sure which loan is right for you?
Tell us about your goals and we'll match you to the loan and lender that fit best — at no cost and with no obligation.