First-Time Homebuyer Mortgage Rates in ZIP Code 01936

Today's leading benchmark rate for first-time homebuyer rates in 01936, , MA is 6.797% (with an estimated monthly payment of $4,229). Calibrated directly to 01936, , MA's local housing market, Safe Rate shows up-to-the-minute interest rates and points across Conventional, FHA, VA, and Jumbo loan programs daily.

Mortgage rates for first-time homebuyer rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, rates for first-time homebuyer rates in 01936, , MA have hovered between a low of 6.330% and a high of 6.797%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.

Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $960,259 in 01936, , MA, a standard 20%-down Conventional loan requires an upfront cash down payment of $192,052 but keeps your monthly payment lower at $4,229/mo (at 6.797% interest) with no monthly PMI. In comparison, an FHA loan requires only $33,609 (3.5% down) but has an estimated payment of $4,730/mo (at 5.913% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $926,650 exceeds the local HUD FHA limit of $541,287 for a 1-unit property, meaning entry-level buyers here will likely require conventional financing or a larger down payment to comply with government limits.

The 2025 conforming conventional loan limit for a 1-unit property in 01936 is $806,501. With a typical local home value of $960,259 in , a standard 20%-down mortgage requires a loan size of $768,207. Because this is within the $806,501 conforming threshold, buyers can qualify for standard conforming conventional financing with competitive rates.

The median home value in 01936, , MA is estimated at $960,259. Buying a typical home here with a standard 20% down payment ($192,052) translates to an estimated starting monthly mortgage payment of $4,229 (principal and interest). Compared to the local area median household income of $125,547 ($10,462/mo), this basic housing payment represents approximately 40.4% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.