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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 | 6.949%APR 6.987% | 0 pts$0 | $1,847/moP&I $1,847 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 5.954%APR 6.724% | 0 pts$0 | $1,824/moP&I $1,694 · MI $130 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.093%APR 6.147% | 0 pts$0 | $1,690/moP&I $1,690 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.909%APR 6.948% | 0 pts$0 | $1,840/moP&I $1,840 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.695% | 0 pts$0 | $1,975/moP&I $1,975 · 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 | 6.093% | 6.147% | 0 pts ($0) | $2,369/mo | $47,789 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.064% | 6.119% | 0 pts ($0) | $2,956/mo | $66,246 |
Condo 10% Down | 10% | 720 credit score | 7.272% | 7.445% | 0 pts ($0) | $2,147/mo | $75,509 |
Conventional 10% Down | 10% | 720 credit score | 6.774% | 6.935% | 0 pts ($0) | $2,042/mo | $70,795 |
Conventional 20% Down | 20% | 740 credit score | 6.949% | 6.987% | 0 pts ($0) | $1,847/mo | $57,283 |
Conventional 5% Down | 5% | 700 credit score | 7.082% | 7.565% | 0 pts ($0) | $2,223/mo | $77,804 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.392% | 7.433% | 0 pts ($0) | $2,414/mo | $83,068 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,065/mo | $69,951 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.831% | 7.210% | 0 pts ($0) | $2,213/mo | $79,928 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.909% | 6.948% | 0 pts ($0) | $2,300/mo | $77,987 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,879/mo | $68,640 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.954% | 6.724% | 0 pts ($0) | $2,044/mo | $71,593 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,114/mo | $73,998 |
FHA Streamline Refi | 0% | 640 credit score | 6.075% | 6.847% | 0 pts ($0) | $2,145/mo | $75,481 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.039% | 7.286% | 0 pts ($0) | $2,214/mo | $80,358 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,183/mo | $42,734 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.695% | 0 pts ($0) | $1,852/mo | $59,039 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,880/mo | $58,764 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,029/mo | $62,202 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.316% | 7.092% | 0 pts ($0) | $2,124/mo | $75,322 |
Second Home 10% Down | 10% | 720 credit score | 5.960% | 6.534% | 0 pts ($0) | $1,874/mo | $63,105 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,835/mo | $56,737 |
VA 0% Down | 0% | 700 credit score | 6.077% | 6.323% | 0 pts ($0) | $2,154/mo | $71,290 |
VA Cash-Out Refi | 0% | 640 credit score | 6.081% | 6.452% | 0 pts ($0) | $2,155/mo | $71,333 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.088% | 6.242% | 0 pts ($0) | $2,157/mo | $71,408 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,920/mo | $60,734 |
Frequently Asked Questions
What are today's mortgage rates in Gill-Montague, MA across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Gill-Montague, MA is 6.949% (with an estimated monthly payment of $1,828). Active program rates also include FHA 30-year fixed loans at 5.954% and VA 0%-down fixed loans at 6.077%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Gill-Montague, MA?
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 Gill-Montague, MA have fluctuated between a low of 6.605% and a high of 7.059%. 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 Gill-Montague, MA?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $348,878 in Gill-Montague, MA, a standard 20%-down Conventional loan requires an upfront cash down payment of $69,776 but keeps your monthly payment lower at $1,828/mo (at 6.949% interest) with no monthly PMI. In comparison, an FHA loan requires only $12,211 (3.5% down) but has an estimated payment of $2,022/mo (at 5.954% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $336,667 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 Gill-Montague before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Gill-Montague is $806,501. With a typical local home value of $348,878 in , a standard 20%-down mortgage requires a loan size of $279,102. 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 Gill-Montague, MA impact estimated mortgage payments?
The median home value in Gill-Montague, MA is estimated at $348,878. Buying a typical home here with a standard 20% down payment ($69,776) translates to an estimated starting monthly mortgage payment of $1,828 (principal and interest). Compared to the local area median household income of $70,950 ($5,913/mo), this basic housing payment represents approximately 30.9% 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.