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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 | 6.892%APR 6.928% | 0 pts$0 | $2,702/moP&I $2,702 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.035%APR 6.805% | 0 pts$0 | $2,706/moP&I $2,514 · MI $191 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.983%APR 6.034% | 0 pts$0 | $2,457/moP&I $2,457 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.855%APR 6.891% | 0 pts$0 | $2,692/moP&I $2,692 · MI $0 | See details |
| Investment Property FixedConforming | 7.615%APR 7.656% | 0 pts$0 | $2,903/moP&I $2,903 · 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 | 5.983% | 6.034% | 0 pts ($0) | $3,461/mo | $68,994 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.970% | 6.022% | 0 pts ($0) | $4,323/mo | $96,057 |
Condo 10% Down | 10% | 720 credit score | 7.135% | 7.303% | 0 pts ($0) | $3,115/mo | $109,172 |
Conventional 10% Down | 10% | 720 credit score | 6.589% | 6.744% | 0 pts ($0) | $2,947/mo | $101,573 |
Conventional 20% Down | 20% | 740 credit score | 6.892% | 6.928% | 0 pts ($0) | $2,702/mo | $83,564 |
Conventional 5% Down | 5% | 700 credit score | 7.003% | 7.481% | 0 pts ($0) | $3,245/mo | $113,297 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.334% | 7.373% | 0 pts ($0) | $3,530/mo | $121,304 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $3,037/mo | $102,906 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.800% | 7.175% | 0 pts ($0) | $3,246/mo | $117,117 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.855% | 6.891% | 0 pts ($0) | $3,365/mo | $113,891 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $4,235/mo | $100,977 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.035% | 6.805% | 0 pts ($0) | $3,033/mo | $106,548 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,109/mo | $108,859 |
FHA Streamline Refi | 0% | 640 credit score | 6.221% | 6.994% | 0 pts ($0) | $3,206/mo | $113,332 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.979% | 7.223% | 0 pts ($0) | $3,237/mo | $117,332 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $3,211/mo | $62,866 |
Investment Property 25% Down | 25% | 740 credit score | 7.615% | 7.656% | 0 pts ($0) | $2,722/mo | $86,736 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $2,766/mo | $86,448 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,984/mo | $91,505 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.404% | 7.180% | 0 pts ($0) | $3,153/mo | $112,140 |
Second Home 10% Down | 10% | 720 credit score | 5.942% | 6.514% | 0 pts ($0) | $2,752/mo | $92,584 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,700/mo | $83,465 |
VA 0% Down | 0% | 700 credit score | 6.028% | 6.272% | 0 pts ($0) | $3,153/mo | $104,103 |
VA Cash-Out Refi | 0% | 640 credit score | 6.040% | 6.408% | 0 pts ($0) | $3,157/mo | $104,292 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.064% | 6.216% | 0 pts ($0) | $3,165/mo | $104,670 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,824/mo | $89,346 |
Frequently Asked Questions
What are today's mortgage rates in 12029, , NY across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 12029, , NY is 6.892% (with an estimated monthly payment of $2,333). Active program rates also include FHA 30-year fixed loans at 6.035% and VA 0%-down fixed loans at 6.028%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 12029, , NY?
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 12029, , NY have fluctuated between a low of 6.509% and a high of 6.970%. 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 12029, , NY?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $513,235 in 12029, , NY, a standard 20%-down Conventional loan requires an upfront cash down payment of $102,647 but keeps your monthly payment lower at $2,333/mo (at 6.892% interest) with no monthly PMI. In comparison, an FHA loan requires only $17,963 (3.5% down) but has an estimated payment of $2,619/mo (at 6.035% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $495,272 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 12029 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 12029 is $806,501. With a typical local home value of $513,235 in , a standard 20%-down mortgage requires a loan size of $410,588. 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 12029, , NY impact estimated mortgage payments?
The median home value in 12029, , NY is estimated at $513,235. Buying a typical home here with a standard 20% down payment ($102,647) translates to an estimated starting monthly mortgage payment of $2,333 (principal and interest). Compared to the local area median household income of $105,214 ($8,768/mo), this basic housing payment represents approximately 26.6% 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.