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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 | 6.993%APR 7.036% | 0 pts$0 | $1,137/moP&I $1,137 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.094%APR 6.870% | 0 pts$0 | $1,134/moP&I $1,054 · MI $80 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.251%APR 6.314% | 0 pts$0 | $1,054/moP&I $1,054 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.100%APR 7.176% | 0 pts$0 | $1,150/moP&I $1,150 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.722% | 0 pts$0 | $1,211/moP&I $1,211 · 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 | 6.251% | 6.314% | 0 pts ($0) | $1,467/mo | $30,078 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.209% | 6.287% | 0 pts ($0) | $1,829/mo | $41,508 |
Condo 10% Down | 10% | 720 credit score | 7.326% | 7.505% | 0 pts ($0) | $1,323/mo | $46,601 |
Conventional 10% Down | 10% | 720 credit score | 6.903% | 7.071% | 0 pts ($0) | $1,268/mo | $44,146 |
Conventional 20% Down | 20% | 740 credit score | 6.993% | 7.036% | 0 pts ($0) | $1,137/mo | $35,342 |
Conventional 5% Down | 5% | 700 credit score | 7.291% | 7.787% | 0 pts ($0) | $1,392/mo | $48,975 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.443% | 7.489% | 0 pts ($0) | $1,487/mo | $51,250 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,266/mo | $42,881 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.871% | 7.254% | 0 pts ($0) | $1,362/mo | $49,246 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.100% | 7.176% | 0 pts ($0) | $1,437/mo | $49,038 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,765/mo | $42,077 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.094% | 6.870% | 0 pts ($0) | $1,272/mo | $44,771 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,296/mo | $45,361 |
FHA Streamline Refi | 0% | 640 credit score | 6.288% | 7.068% | 0 pts ($0) | $1,345/mo | $47,664 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.263% | 7.518% | 0 pts ($0) | $1,388/mo | $50,632 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,338/mo | $26,196 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.722% | 0 pts ($0) | $1,135/mo | $36,191 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,153/mo | $36,023 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,244/mo | $38,130 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.455% | 7.238% | 0 pts ($0) | $1,321/mo | $47,051 |
Second Home 10% Down | 10% | 720 credit score | 6.105% | 6.687% | 0 pts ($0) | $1,167/mo | $39,522 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,125/mo | $34,780 |
VA 0% Down | 0% | 700 credit score | 6.117% | 6.367% | 0 pts ($0) | $1,326/mo | $43,964 |
VA Cash-Out Refi | 0% | 640 credit score | 6.122% | 6.498% | 0 pts ($0) | $1,327/mo | $43,997 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.136% | 6.295% | 0 pts ($0) | $1,329/mo | $44,089 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,177/mo | $37,230 |
Frequently Asked Questions
What are today's mortgage rates in 12838, , NY across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 12838, , NY is 6.993% (with an estimated monthly payment of $1,186). Active program rates also include FHA 30-year fixed loans at 6.094% and VA 0%-down fixed loans at 6.117%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 12838, , 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 12838, , NY have fluctuated between a low of 6.885% and a high of 7.135%. 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 12838, , NY?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $213,864 in 12838, , NY, a standard 20%-down Conventional loan requires an upfront cash down payment of $42,773 but keeps your monthly payment lower at $1,186/mo (at 6.993% interest) with no monthly PMI. In comparison, an FHA loan requires only $7,485 (3.5% down) but has an estimated payment of $1,326/mo (at 6.094% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $206,379 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 12838 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 12838 is $806,501. With a typical local home value of $213,864 in , a standard 20%-down mortgage requires a loan size of $171,091. 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 12838, , NY impact estimated mortgage payments?
The median home value in 12838, , NY is estimated at $213,864. Buying a typical home here with a standard 20% down payment ($42,773) translates to an estimated starting monthly mortgage payment of $1,186 (principal and interest). Compared to the local area median household income of $65,163 ($5,430/mo), this basic housing payment represents approximately 21.8% 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.