Mortgage Rates in Franklin, New Hampshire — March 2026
Updated March 2026 | Based on Franklin market data and regional lending conditions
Franklin is a growing city in New Hampshire with a population of 8,741. The current 30-year fixed mortgage rate in Franklin is 6.72%, which is 0.07% above the national average. With a median home price of $316,000 and a 20% down payment of $63,200, homebuyers can expect a monthly principal and interest payment of approximately $1,635.
Current Mortgage Rates in Franklin, NH
Below are the current average mortgage rates available in the Franklin 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 | 6.72% | 6.65% | +0.07% |
| 15-Year Fixed | 5.97% | 5.89% | +0.08% |
| 5/1 ARM | 6.23% | 6.15% | +0.08% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.97% | 6.85% | +0.12% |
Franklin Housing Market Overview
The Franklin housing market reflects moderate demand with prices near the national average. The median household income in Franklin is $78,700, and the cost of living index is 114.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $94,886 to comfortably afford the median-priced home in Franklin, which exceeds the current median household income.
Monthly Payment Breakdown for Franklin
Based on the median home price of $316,000 with 20% down ($63,200), here is what you can expect to pay monthly in Franklin:
15-Year vs. 30-Year Mortgage in Franklin
Choosing a 15-year mortgage in Franklin at 5.97% instead of a 30-year at 6.72% would save you $205,380 in total interest over the life of the loan. However, your monthly payment would be $2,129 instead of $1,635 — an increase of $494 per month.
Calculate Your Franklin 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 Franklin
What are the current mortgage rates in Franklin, NH?
As of March 2026, the average 30-year fixed mortgage rate in Franklin, New Hampshire is 6.72%, while the 15-year fixed rate is 5.97%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.07% above the national average of 6.65%.
How much is a monthly mortgage payment in Franklin?
Based on the median home price of $316,000 with 20% down, the estimated monthly mortgage payment in Franklin is $1,635 for principal and interest. Including property taxes of $579/month, the total monthly housing cost is approximately $2,214.
What income do I need to buy a home in Franklin?
Using the 28% rule, you would need an annual income of approximately $94,886 to afford the median-priced home in Franklin at $316,000. The median household income in Franklin is $78,700. This means most households would need to either earn above the median or consider homes below $316,000.
Is Franklin a good place to buy a home in 2026?
Franklin has a moderate cost of living with a cost of living index of 114.4 (national average = 100). The property tax rate in New Hampshire is 2.2%, which is above the national average. Franklin has a population of 8,741 and offers a balanced lifestyle.
Mortgage Rates in Other New Hampshire Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Franklin, New Hampshire area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.