MortgageCompass Editorial Team 
Last reviewed: October 2026 · By the MortgageCompass Editorial Team · How we research The best mortgage lender for a first-time buyer in the US is one that offers every low down payment program you might qualify for, works with your state’s down payment assistance and explains each step clearly. The loan program usually matters
Last reviewed: October 2026 · Updated after each RBA decision · By the MortgageCompass Editorial Team · How we research Right now, fixed and variable home loans in Australia cost almost the same. On October 2, 2026, Canstar’s average owner-occupier variable rate was 6.63%, against 6.56% for a two-year fix and 6.61% for three years.
Last reviewed: October 2026 · By the MortgageCompass Editorial Team · How we research A mortgage is a loan to buy a home, where the home itself is the security. You borrow most of the price from a lender, pay the rest as a deposit or down payment, and repay the loan with interest in
Last reviewed: October 2026 · By the MortgageCompass Editorial Team · How we research A fixed-rate mortgage keeps the same rate for the whole loan. An adjustable-rate mortgage (ARM) starts with a fixed rate for a few years, usually five, seven or ten, then adjusts with the market. In the week ending October 9, 2026,
Last reviewed: October 2026 · By the MortgageCompass Editorial Team · How we research A 15-year mortgage costs more each month but saves a huge amount of interest and builds equity much faster. A 30-year mortgage has a lower payment and more flexibility, at the price of far more interest over time. With Freddie Mac’s
Last reviewed: October 2026 · By the MortgageCompass Editorial Team · How we research You can buy a house in the US with a credit score as low as 500 using an FHA loan with 10% down, or 580 with 3.5% down. Most lenders want about 620 for conventional and VA loans, and USDA loans