By contrast, a 30-year fixed-rate mortgage will accrue more interest because it takes longer to chip away at the principal.

Secondly, you also might consider getting an adjustable rate mortgage (ARM). ARMs have a 30-year term with lower interest rates for the first few years. Then, your interest rate will change every six months based on the market.

ARMs may be a better option if you’ll stay in your home for a short time since rates can potentially be unfavorable in the long run. On the other hand, fixed-rate loans offer certainty and predictability.

We looked through the market and identified 10 lenders with the lowest interest rates for a 30-year fixed-rate mortgage. These figures are expressed in annual percentage rates (APRs).

Our analysis is based on the national median price of $293,349, according to the latest data from Zillow. Note, however, that our computations are for single-family homes with a 20% down payment. Your rate may also change depending on the property price, your credit score, and your location.