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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 | 6.975%APR 7.014% | 0 pts$0 | $1,913/moP&I $1,913 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.961%APR 6.732% | 0 pts$0 | $1,886/moP&I $1,751 · MI $134 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.177%APR 6.233% | 0 pts$0 | $1,761/moP&I $1,761 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.113%APR 7.173% | 0 pts$0 | $1,940/moP&I $1,940 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.709% | 0 pts$0 | $2,040/moP&I $2,040 · 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 | 6.177% | 6.233% | 0 pts ($0) | $2,460/mo | $50,056 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.245% | 6.311% | 0 pts ($0) | $3,088/mo | $70,307 |
Condo 10% Down | 10% | 720 credit score | 7.302% | 7.476% | 0 pts ($0) | $2,224/mo | $78,276 |
Conventional 10% Down | 10% | 720 credit score | 6.796% | 6.957% | 0 pts ($0) | $2,113/mo | $73,329 |
Conventional 20% Down | 20% | 740 credit score | 6.975% | 7.014% | 0 pts ($0) | $1,913/mo | $59,386 |
Conventional 5% Down | 5% | 700 credit score | 7.117% | 7.601% | 0 pts ($0) | $2,304/mo | $80,715 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.422% | 7.464% | 0 pts ($0) | $2,500/mo | $86,116 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,132/mo | $72,244 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.838% | 7.217% | 0 pts ($0) | $2,287/mo | $82,621 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.113% | 7.173% | 0 pts ($0) | $2,425/mo | $82,758 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,973/mo | $70,889 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.961% | 6.732% | 0 pts ($0) | $2,112/mo | $74,014 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,183/mo | $76,423 |
FHA Streamline Refi | 0% | 640 credit score | 6.085% | 6.858% | 0 pts ($0) | $2,218/mo | $78,064 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.074% | 7.322% | 0 pts ($0) | $2,294/mo | $83,352 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,254/mo | $44,135 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.709% | 0 pts ($0) | $1,913/mo | $60,973 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,942/mo | $60,690 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,095/mo | $64,240 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.325% | 7.102% | 0 pts ($0) | $2,196/mo | $77,885 |
Second Home 10% Down | 10% | 720 credit score | 6.073% | 6.651% | 0 pts ($0) | $1,959/mo | $66,274 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,895/mo | $58,596 |
VA 0% Down | 0% | 700 credit score | 6.087% | 6.334% | 0 pts ($0) | $2,227/mo | $73,737 |
VA Cash-Out Refi | 0% | 640 credit score | 6.091% | 6.463% | 0 pts ($0) | $2,228/mo | $73,781 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.082% | 6.237% | 0 pts ($0) | $2,226/mo | $73,682 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,983/mo | $62,724 |
Frequently Asked Questions
What are today's mortgage rates in 12059, , NY across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 12059, , NY is 6.975% (with an estimated monthly payment of $1,669). Active program rates also include FHA 30-year fixed loans at 5.961% and VA 0%-down fixed loans at 6.087%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 12059, , 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 12059, , NY have fluctuated between a low of 6.863% and a high of 7.115%. 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 12059, , NY?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $360,310 in 12059, , NY, a standard 20%-down Conventional loan requires an upfront cash down payment of $72,062 but keeps your monthly payment lower at $1,669/mo (at 6.975% interest) with no monthly PMI. In comparison, an FHA loan requires only $12,611 (3.5% down) but has an estimated payment of $1,843/mo (at 5.961% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $347,699 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 12059 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 12059 is $806,501. With a typical local home value of $360,310 in , a standard 20%-down mortgage requires a loan size of $288,248. 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 12059, , NY impact estimated mortgage payments?
The median home value in 12059, , NY is estimated at $360,310. Buying a typical home here with a standard 20% down payment ($72,062) translates to an estimated starting monthly mortgage payment of $1,669 (principal and interest). Compared to the local area median household income of $111,023 ($9,252/mo), this basic housing payment represents approximately 18.0% 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.