Mortgage Rates in Babylon, New York — March 2026
Updated March 2026 | Based on Babylon market data and regional lending conditions
Babylon is a mid-sized city in New York with a population of 213,234. The current 30-year fixed mortgage rate in Babylon is 6.77%, which is 0.12% above the national average. With a median home price of $474,000 and a 20% down payment of $94,800, homebuyers can expect a monthly principal and interest payment of approximately $2,465.
Current Mortgage Rates in Babylon, NY
Below are the current average mortgage rates available in the Babylon area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.77% | 6.65% | +0.12% |
| 15-Year Fixed | 6.01% | 5.89% | +0.12% |
| 5/1 ARM | 6.26% | 6.15% | +0.11% |
| FHA | 6.51% | 6.25% | +0.26% |
| VA | 6.26% | 6.05% | +0.21% |
| Jumbo | 7.02% | 6.85% | +0.17% |
Babylon Housing Market Overview
The Babylon housing market reflects moderate demand with prices near the national average. The median household income in Babylon is $71,400, and the cost of living index is 152.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $135,771 to comfortably afford the median-priced home in Babylon, which exceeds the current median household income.
Monthly Payment Breakdown for Babylon
Based on the median home price of $474,000 with 20% down ($94,800), here is what you can expect to pay monthly in Babylon:
15-Year vs. 30-Year Mortgage in Babylon
Choosing a 15-year mortgage in Babylon at 6.01% instead of a 30-year at 6.77% would save you $311,040 in total interest over the life of the loan. However, your monthly payment would be $3,202 instead of $2,465 — an increase of $737 per month.
Calculate Your Babylon Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Babylon
What are the current mortgage rates in Babylon, NY?
As of March 2026, the average 30-year fixed mortgage rate in Babylon, New York is 6.77%, while the 15-year fixed rate is 6.01%. FHA loans average 6.51% and VA loans 6.26%. These rates are 0.12% above the national average of 6.65%.
How much is a monthly mortgage payment in Babylon?
Based on the median home price of $474,000 with 20% down, the estimated monthly mortgage payment in Babylon is $2,465 for principal and interest. Including property taxes of $703/month, the total monthly housing cost is approximately $3,168.
What income do I need to buy a home in Babylon?
Using the 28% rule, you would need an annual income of approximately $135,771 to afford the median-priced home in Babylon at $474,000. The median household income in Babylon is $71,400. This means most households would need to either earn above the median or consider homes below $474,000.
Is Babylon a good place to buy a home in 2026?
Babylon has a higher cost of living than average with a cost of living index of 152.3 (national average = 100). The property tax rate in New York is 1.78%, which is above the national average. Babylon has a population of 213,234 and offers a balanced lifestyle.
Mortgage Rates in Other New York Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Babylon, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.