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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.954%APR 6.992% | 0 pts$0 | $1,824/moP&I $1,824 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.955%APR 6.725% | 0 pts$0 | $1,801/moP&I $1,672 · MI $128 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.103%APR 6.158% | 0 pts$0 | $1,670/moP&I $1,670 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.970%APR 7.008% | 0 pts$0 | $1,827/moP&I $1,827 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.698% | 0 pts$0 | $1,950/moP&I $1,950 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.103% | 6.158% | 0 pts ($0) | $2,340/mo | $47,241 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.029% | 6.083% | 0 pts ($0) | $2,911/mo | $65,027 |
Condo 10% Down | 10% | 720 credit score | 7.277% | 7.450% | 0 pts ($0) | $2,120/mo | $74,564 |
Conventional 10% Down | 10% | 720 credit score | 6.778% | 6.939% | 0 pts ($0) | $2,016/mo | $69,903 |
Conventional 20% Down | 20% | 740 credit score | 6.954% | 6.992% | 0 pts ($0) | $1,824/mo | $56,573 |
Conventional 5% Down | 5% | 700 credit score | 7.088% | 7.571% | 0 pts ($0) | $2,195/mo | $76,843 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.397% | 7.438% | 0 pts ($0) | $2,383/mo | $82,030 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,037/mo | $69,034 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.832% | 7.211% | 0 pts ($0) | $2,184/mo | $78,889 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.970% | 7.008% | 0 pts ($0) | $2,284/mo | $77,596 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,841/mo | $67,740 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.955% | 6.725% | 0 pts ($0) | $2,017/mo | $70,664 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,086/mo | $73,027 |
FHA Streamline Refi | 0% | 640 credit score | 6.077% | 6.849% | 0 pts ($0) | $2,118/mo | $74,511 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.045% | 7.292% | 0 pts ($0) | $2,186/mo | $79,362 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,154/mo | $42,173 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.698% | 0 pts ($0) | $1,828/mo | $58,264 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,856/mo | $57,993 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,002/mo | $61,385 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.317% | 7.093% | 0 pts ($0) | $2,096/mo | $74,343 |
Second Home 10% Down | 10% | 720 credit score | 5.961% | 6.535% | 0 pts ($0) | $1,850/mo | $62,286 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,811/mo | $55,992 |
VA 0% Down | 0% | 700 credit score | 6.079% | 6.325% | 0 pts ($0) | $2,127/mo | $70,376 |
VA Cash-Out Refi | 0% | 640 credit score | 6.083% | 6.454% | 0 pts ($0) | $2,127/mo | $70,418 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.090% | 6.244% | 0 pts ($0) | $2,129/mo | $70,492 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,895/mo | $59,937 |
Frequently Asked Questions
What are today's mortgage rates in 06247, , CT across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 06247, , CT is 6.954% (with an estimated monthly payment of $1,797). Active program rates also include FHA 30-year fixed loans at 5.955% and VA 0%-down fixed loans at 6.079%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 06247, , CT?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in 06247, , CT have fluctuated between a low of 6.613% and a high of 7.069%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 06247, , CT?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $344,300 in 06247, , CT, a standard 20%-down Conventional loan requires an upfront cash down payment of $68,860 but keeps your monthly payment lower at $1,797/mo (at 6.954% interest) with no monthly PMI. In comparison, an FHA loan requires only $12,051 (3.5% down) but has an estimated payment of $1,987/mo (at 5.955% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $332,250 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 06247 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 06247 is $806,501. With a typical local home value of $344,300 in , a standard 20%-down mortgage requires a loan size of $275,440. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in 06247, , CT impact estimated mortgage payments?
The median home value in 06247, , CT is estimated at $344,300. Buying a typical home here with a standard 20% down payment ($68,860) translates to an estimated starting monthly mortgage payment of $1,797 (principal and interest). Compared to the local area median household income of $107,668 ($8,972/mo), this basic housing payment represents approximately 20.0% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.