Current as low as Mortgage and Home Equity Rates
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FreeRateUpdate publishes the as low as mortgage and home equity rates and APRs we can verify from the lenders and brokers in our network. Individual terms vary; the details and assumptions behind each figure are available below.
| Purpose | Product | Term | As low as rate | APR* |
|---|---|---|---|---|
| Purchase | Fixed mortgage | 30 years | 5.997% | 6.087% |
| Purchase | Fixed mortgage | 15 years | 5.373% | 5.673% |
| Refinance | Fixed mortgage | 30 years | 5.996% | 6.096% |
| Refinance | Fixed mortgage | 15 years | 5.372% | 5.689% |
| Refinance | Fixed mortgage | 10 years | 5.372% | 5.677% |
| Cash-out refinance | Fixed mortgage | 30 years | 5.996% | 6.132% |
| Cash-out refinance | Fixed mortgage | 10 years | 5.750% | 5.750% |
| Home equity | HELOC | Revolving | 6.050% | 6.050% |
| Home equity | Home equity loan | Fixed term | No publishable rate available today | — |
PARTICIPATING LENDERS
Compare NY Mortgage Refinance Offers
Lower Your Interest Rate in New York
If eligible, you can lower your interest rate. This could lead to lower payments and less money paid towards interest.
By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
Why should I lower my rate? |
Save money |
 |
Lower Payments |
Shorten Your Loan Term in New York
Shorten your loan term when refinancing from a 30-year term to a 15-year term. You may also lower your rate.
Why should I shorten my term? |
Become mortgage-free quickly |
 |
Pay less interest |
Leverage Your Home's Equity in New York
Take cash out of your home to apply to improvements, renovations, or other necessary expenses.
Why should I cash out? |
Renovations |
 |
Pay for other debts or emergencies |
New York Mortgage Rates
New York housing ranges from New York City apartments to suburban, small-town, and rural properties. Property type, occupancy, loan amount, and county can all affect which mortgage programs and pricing apply.
Common New York Loan Types:
- New York conventional mortgages: Conventional mortgages are made by private lenders without FHA insurance or a VA guaranty. Loan availability, qualifications, down payment, mortgage insurance, rates, and fees depend on the lender, borrower, property, and program.
- New York FHA loans: FHA-insured mortgages are made by FHA-approved lenders and are not limited to first-time buyers. Eligibility and down payment depend on the borrower and property; loan limits and mortgage insurance vary by location and loan details.
- New York VA loans: VA-backed mortgages are made by private lenders for eligible borrowers who meet VA and lender requirements. Some qualified purchase borrowers may use no down payment, while entitlement, appraisal, occupancy, funding-fee rules and exemptions, and lender requirements still apply.
Program information: FHA (HUD) and VA.gov.
How to Compare New York Mortgage Rates
Mortgage pricing available in New York varies by loan type, lender, borrower profile, property, points, and market timing. Loan amount and county can affect whether a New York loan uses conforming, high-balance, or jumbo pricing; compare within the same category.