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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 | 6.895%APR 6.931% | 0 pts$0 | $2,142/moP&I $2,142 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.040%APR 6.810% | 0 pts$0 | $2,146/moP&I $1,994 · MI $152 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 5.988%APR 6.039% | 0 pts$0 | $1,949/moP&I $1,949 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.854%APR 6.890% | 0 pts$0 | $2,133/moP&I $2,133 · MI $0 | See details |
| Investment Property FixedConforming | 7.620%APR 7.661% | 0 pts$0 | $2,302/moP&I $2,302 · 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 | 5.988% | 6.039% | 0 pts ($0) | $2,744/mo | $54,733 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.968% | 6.020% | 0 pts ($0) | $3,426/mo | $76,113 |
Condo 10% Down | 10% | 720 credit score | 7.144% | 7.312% | 0 pts ($0) | $2,471/mo | $86,631 |
Conventional 10% Down | 10% | 720 credit score | 6.593% | 6.748% | 0 pts ($0) | $2,337/mo | $80,552 |
Conventional 20% Down | 20% | 740 credit score | 6.895% | 6.931% | 0 pts ($0) | $2,142/mo | $66,264 |
Conventional 5% Down | 5% | 700 credit score | 7.007% | 7.485% | 0 pts ($0) | $2,573/mo | $89,848 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.337% | 7.376% | 0 pts ($0) | $2,799/mo | $96,184 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,407/mo | $81,565 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.803% | 7.178% | 0 pts ($0) | $2,573/mo | $92,865 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.854% | 6.890% | 0 pts ($0) | $2,667/mo | $90,260 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $3,357/mo | $80,036 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.040% | 6.810% | 0 pts ($0) | $2,405/mo | $84,512 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,465/mo | $86,283 |
FHA Streamline Refi | 0% | 640 credit score | 6.231% | 7.004% | 0 pts ($0) | $2,543/mo | $89,954 |
House Hacking Conforming 5% | 5% | 680 credit score | 6.981% | 7.225% | 0 pts ($0) | $2,566/mo | $93,023 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,545/mo | $49,829 |
Investment Property 25% Down | 25% | 740 credit score | 7.620% | 7.661% | 0 pts ($0) | $2,158/mo | $68,794 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $2,193/mo | $68,520 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,365/mo | $72,528 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.408% | 7.184% | 0 pts ($0) | $2,501/mo | $88,932 |
Second Home 10% Down | 10% | 720 credit score | 5.943% | 6.515% | 0 pts ($0) | $2,182/mo | $73,395 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,140/mo | $66,156 |
VA 0% Down | 0% | 700 credit score | 6.033% | 6.277% | 0 pts ($0) | $2,500/mo | $82,576 |
VA Cash-Out Refi | 0% | 640 credit score | 6.045% | 6.413% | 0 pts ($0) | $2,503/mo | $82,726 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.066% | 6.218% | 0 pts ($0) | $2,509/mo | $82,988 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $2,239/mo | $70,817 |
Frequently Asked Questions
What are today's mortgage rates in 12831, , NY across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 12831, , NY is 6.895% (with an estimated monthly payment of $2,302). Active program rates also include FHA 30-year fixed loans at 6.040% and VA 0%-down fixed loans at 6.033%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 12831, , 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 12831, , NY have fluctuated between a low of 6.514% and a high of 6.973%. 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 12831, , NY?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $406,799 in 12831, , NY, a standard 20%-down Conventional loan requires an upfront cash down payment of $81,360 but keeps your monthly payment lower at $2,302/mo (at 6.895% interest) with no monthly PMI. In comparison, an FHA loan requires only $14,238 (3.5% down) but has an estimated payment of $2,584/mo (at 6.040% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $392,561 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 12831 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 12831 is $806,501. With a typical local home value of $406,799 in , a standard 20%-down mortgage requires a loan size of $325,439. 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 12831, , NY impact estimated mortgage payments?
The median home value in 12831, , NY is estimated at $406,799. Buying a typical home here with a standard 20% down payment ($81,360) translates to an estimated starting monthly mortgage payment of $2,302 (principal and interest). Compared to the local area median household income of $103,687 ($8,641/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.