The lowdown on down payment grants The down payment assistance can potentially cover all of your down payment and closing costs. No first time home buyer requirement for most programs. The assistance money received is a silent second that has no interest, no payment and is forgiven monthly over the first three years of home ownership.Current Rates Interest – Mortgage Rates Amarillo TX – Fast Fact: The current interest rate for a 30-year mortgage is around 4%, according to Bank of America; in 1981, according to The Street, the 30-year fixed mortgage rate was 18.5%. Mortgage rates today, February 6, 2019, plus lock recommendations Home remodeling: How to finance your project If you need a longer window to pay off your project.When the S&P 500 set its record last fall, dueling import taxes by the United States and China threatened global growth, higher mortgage rates were hurting home sales and the initial october jobs. Stocks close lower, post worst month in 3 years despite oil turnaround. and allow for a gradual increase in rates.