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New York 30 Year Fixed Mortgage Rates

Compare New York 30 Year Fixed Conforming Mortgage rates with a loan amount of $250,000. To change the mortgage product or the loan amount, use the search box on the right. Click the lender name to view more information. Mortgage rates are updated daily.

New York 30 Year Fixed Conforming Mortgage

Lender APR Rate (%) Points Fees Monthly Payment Learn More/
Comments
Quicken Loans NMLS #3030
NMLS ID: 3030
3.726% 3.625%
1.25 $3,125 $1,140 Learn More

Data from above provided by Informa Research Services, Inc.1

TEACHERS
Updated 07/07/2016
3.05% 3.00 0.00 $0.00 $1,054.01
The Suffolk County National Bank of Riverhead
Updated 07/21/2016
3.19% 3.13 0.00 $0.00 $1,071.62
Navy Federal Credit Union
Updated 07/21/2016
3.24% 3.13 0.50 $0.00 $1,071.62
The Adirondack Trust Company
Updated 07/15/2016
3.36% 3.25 0.00 $0.00 $1,088.02
Solvay Bank
Updated 07/19/2016
3.27% 3.25 0.00 $0.00 $1,088.02
Pentagon Federal Credit Union
Updated 07/07/2016
3.38% 3.25 0.00 $0.00 $1,088.02
NASSAU EDUCATORS
Updated 07/11/2016
3.30% 3.25 0.00 $6,288.00 $1,088.02
BETHPAGE
Updated 07/07/2016
3.33% 3.25 0.00 $0.00 $1,088.02
UNITED NATIONS
Updated 07/07/2016
3.30% 3.25 0.00 $7,467.00 $1,088.02
Ballston Spa National Bank
Updated 07/21/2016
3.50% 3.34 0.00 $0.00 $1,100.40
First National Bank of Scotia
Updated 07/21/2016
3.44% 3.37 0.00 $0.00 $1,104.55
SPACE COAST
Updated 07/25/2016
3.45% 3.38 0.00 $2,374.00 $1,105.24
Chemung Canal Trust Company
Updated 07/15/2016
3.45% 3.38 0.00 $0.00 $1,105.93
Tompkins Trust Company
Updated 07/21/2016
3.40% 3.38 0.00 $1,280.00 $1,105.93
Bank of America, National Association
Updated 07/21/2016
3.53% 3.38 0.48 $0.00 $1,105.93
Capital One, National Association
Updated 06/17/2016
3.46% 3.38 0.38 $0.00 $1,105.93
Mahopac Bank
Updated 07/21/2016
3.40% 3.38 0.00 $4,224.00 $1,105.93
NBT Bank, National Association
Updated 07/18/2016
3.39% 3.38 0.00 $2,431.00 $1,105.93
Citizens & Northern Bank
Updated 07/19/2016
3.39% 3.38 0.00 $0.00 $1,105.93
Steuben Trust Company
Updated 07/13/2016
3.44% 3.38 0.00 $0.00 $1,105.93

Data provided by BestCashCow

1Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.

Rates from this table are based on loan amount of $250,000 and a variety of factors including credit score and loan to value ratios. For specific requirements please check with the lender. Rates may change at any time.

Starting Your Search for the Best Mortgage Rates

Once you have found and purchased the home of your dreams, you will need to protect your investment. You will need a good understanding of the best type of loan for you as well as prevailing mortgage rates.

Securing the best mortgage isn’t simply about finding a lender who offers you the best rate. Taking out a mortgage can be a time-consuming, confusing, and even emotional process. The best mortgage lenders will guide you through the complex process with ease and treat you with respect. This makes finding the best rates from top mortgage lenders a little bit tougher than finding, say, the Best Credit Card for earning travel rewards, the Highest Yielding Online Savings Account Account or the Highest Yielding CD.

In addition to searching for the best rate, you will want to improve your credit score, identify the maximum down payment you can make and determine how long you will be in your house or apartment. Based on these factors, the following are the types of mortgage products you may wish to consider.

Fixed-rate mortgages

While fixed-rate mortgages are by far the most common type of home loan. It’s also the easiest to understand. While the proportion of your loan that is amortized will increase each month (versus interest on the balance), you still pay the same amount every month. Your interest rate is locked in when you close on the loan, so you aren’t vulnerable to sudden increases in interest rates.

Fixed-rate mortgages ordinarily require a 20% down payment (or that you pay for mortgage insurance) and are most often offered for 10-, 15- or 30-year terms, with the latter being the most popular choice. Longer terms generally mean lower payments, but they also mean it will take longer to build equity in your home. You will also pay more interest over the life of the loan.

The BestCashCow mortgage calculator is a great way to examine the amortization schedule that you will have for different fixed rate mortgage lengths and balances (hyperlink- https://www.bestcashcow.com/mortgage-calculator).

Adjustable-rate mortgages (ARMs)

Typically, ARMS offer lower initial interest rates, and sometimes lower initial payments than fixed rate mortgages, making it easier for a wider range of people to qualify for better homes. The interest rate remains constant for a certain period of time, most commonly 7 or 10 years although shorter and longer terms are often available. Generally, the shorter the period, the better the rate — then rises and falls periodically according to a financial index.

ARMs offer a fantastic opportunity for homeowners to get rates lower than would be available in a fixed rate product, and are ideal for those who are not planning to be in the home for more than the term for which rates are fixed, or those who will be able to pay off the mortgage should rates rise. If you don’t fit that criteria, you run that risk of your ARM beginning to adjust when interest rates are climbing in which case your payments could be adjusted upwards quite sharply. While most products have terms limited them to more than a 2% annual increase (or decrease), given that interest rates on fixed products are currently so low, you may find yourself several years out regretting that you did not lock into a fixed rate product.

Interest-only mortgages (IOs)

Interest-only mortgages are technically a type of ARM on which only the interest is charged each month, but the outstanding loan amount does not begin to amortize until after the interest-only period (usually 5 years). These mortgages are compelling because they allow home buyers to pay only interest for a certain period at the beginning of the loan, keeping payments as low as possible. They can be a good choice for someone who expects a significant increase in income down the pike, but they are the worst choice for those seeking to build equity in their homes. They can also lead people to mistakenly buy more expensive homes than they can afford. Once the interest-only payment period is up, your payment can jump significantly when you begin to pay the principal of the loan, plus you can experience a rate increase.

FHA and VA loans

FHA and VA loans are government-backed mortgages. FHA loans require much smaller down payments than their conventional counterparts and can often be good option for those with a steady, healthy income without enough savings for a huge down payment (often as little as 2.5% down). The drawback of FHA loans is that you will likely be responsible for mortgage insurance each month in order to help the lender blunt some of the risk. VA loans are also available to those with a military affiliation and offer with low (or even no) down-payment options, minus the mortgage insurance required on FHA loans. However, the VA typically charges a one-time funding fee that varies according to down payment amount.

  • Ty Pennington

    June 04, 2016

    This is a great table, and I found all of the rates that I needed to make a wise decision. Just much easier to use than guaranteed rate.

  • Lisa Bagenstose

    July 24, 2014

    good

  • Erica Lowry

    October 09, 2013

    Hello, I would like to see if I can get pre qualified for a 2nd home in Saint Augustine, Florida however I am looking for a foreclosure home. How will that work? Please contact me back at Elowry53@gmail.com thanks

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