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.

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.

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 ...

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