For example, on a $300,000 mortgage, a 15-year loan at 5.49% would have higher monthly payments than a 30-year loan at 6.13%, but you'd pay far less in interest overall and build equity much faster.

The difference between an 8% mortgage and a 3% mortgage on the same 30-year $400,000 loan is nearly $1,000 a month. That said, you should manage your expectations.

Housing is the biggest expense most Americans face each month, often taking up a third of their budget. If your mortgage is too large a piece of the pie, there are numerous ways to lower housing ...

10 Tips to Lower Your Mortgage Payment. Whether looking to purchase now or adjust your current mortgage payment, you have options. Take a look at these helpful tips to lower your mortgage payments. 1.

The lender may even allow you to buy four mortgage points to lower the rate from 7% to 6%, although you'd have to shell out $16,000 to get there. ...

Mortgage rates are averaging 6.13% currently, but there are ways to get a rate below 6% this fall. Here's how.