Make an equal comparison
Use the same loan balance and term for both rates. The result compares principal and interest, not APR, discount points, closing costs or mortgage insurance. Compare lender Loan Estimates before choosing an offer.
What half a percentage point changes
On $400,000 over 30 years, 6.5% costs $2,528.27 per month and 6% costs $2,398.20. The difference is $130.07 monthly. A lower rate is not automatically a better deal if it requires substantial upfront costs.
Compare condiciones equivalentes
Use el mismo saldo y plazo para ambas tasas. El resultado compara capital e intereses, no APR, puntos, gastos de cierre ni seguros. Para $400,000 por 30 años, el pago al 6.5% es $2,528.27 y al 6% es $2,398.20: una diferencia mensual de $130.07.