Mortgage Rates in Colonie, New York — March 2026
Updated March 2026 | Based on Colonie market data and regional lending conditions
Colonie is a growing city in New York with a population of 81,591. The current 30-year fixed mortgage rate in Colonie is 6.67%, which is 0.02% above the national average. With a median home price of $404,000 and a 20% down payment of $80,800, homebuyers can expect a monthly principal and interest payment of approximately $2,079.
Current Mortgage Rates in Colonie, NY
Below are the current average mortgage rates available in the Colonie 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 | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.92% | 5.89% | +0.03% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Colonie Housing Market Overview
The Colonie housing market reflects moderate demand with prices near the national average. The median household income in Colonie is $66,700, and the cost of living index is 134.6 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $114,043 to comfortably afford the median-priced home in Colonie, which exceeds the current median household income.
Monthly Payment Breakdown for Colonie
Based on the median home price of $404,000 with 20% down ($80,800), here is what you can expect to pay monthly in Colonie:
15-Year vs. 30-Year Mortgage in Colonie
Choosing a 15-year mortgage in Colonie at 5.92% instead of a 30-year at 6.67% would save you $260,100 in total interest over the life of the loan. However, your monthly payment would be $2,713 instead of $2,079 — an increase of $634 per month.
Calculate Your Colonie 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 Colonie
What are the current mortgage rates in Colonie, NY?
As of March 2026, the average 30-year fixed mortgage rate in Colonie, New York is 6.67%, while the 15-year fixed rate is 5.92%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Colonie?
Based on the median home price of $404,000 with 20% down, the estimated monthly mortgage payment in Colonie is $2,079 for principal and interest. Including property taxes of $582/month, the total monthly housing cost is approximately $2,661.
What income do I need to buy a home in Colonie?
Using the 28% rule, you would need an annual income of approximately $114,043 to afford the median-priced home in Colonie at $404,000. The median household income in Colonie is $66,700. This means most households would need to either earn above the median or consider homes below $404,000.
Is Colonie a good place to buy a home in 2026?
Colonie has a higher cost of living than average with a cost of living index of 134.6 (national average = 100). The property tax rate in New York is 1.73%, which is above the national average. Colonie has a population of 81,591 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 Colonie, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.