Mortgage Rates in Freeport, New York — March 2026
Updated March 2026 | Based on Freeport market data and regional lending conditions
Freeport is a growing city in New York with a population of 43,713. The current 30-year fixed mortgage rate in Freeport is 6.78%, which is 0.13% above the national average. With a median home price of $377,000 and a 20% down payment of $75,400, homebuyers can expect a monthly principal and interest payment of approximately $1,962.
Current Mortgage Rates in Freeport, NY
Below are the current average mortgage rates available in the Freeport 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 | 6.78% | 6.65% | +0.13% |
| 15-Year Fixed | 6.02% | 5.89% | +0.13% |
| 5/1 ARM | 6.27% | 6.15% | +0.12% |
| FHA | 6.52% | 6.25% | +0.27% |
| VA | 6.27% | 6.05% | +0.22% |
| Jumbo | 7.03% | 6.85% | +0.18% |
Freeport Housing Market Overview
The Freeport housing market reflects moderate demand with prices near the national average. The median household income in Freeport is $73,300, and the cost of living index is 125.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $107,786 to comfortably afford the median-priced home in Freeport, which exceeds the current median household income.
Monthly Payment Breakdown for Freeport
Based on the median home price of $377,000 with 20% down ($75,400), here is what you can expect to pay monthly in Freeport:
15-Year vs. 30-Year Mortgage in Freeport
Choosing a 15-year mortgage in Freeport at 6.02% instead of a 30-year at 6.78% would save you $247,680 in total interest over the life of the loan. However, your monthly payment would be $2,548 instead of $1,962 — an increase of $586 per month.
Calculate Your Freeport 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 Freeport
What are the current mortgage rates in Freeport, NY?
As of March 2026, the average 30-year fixed mortgage rate in Freeport, New York is 6.78%, while the 15-year fixed rate is 6.02%. FHA loans average 6.52% and VA loans 6.27%. These rates are 0.13% above the national average of 6.65%.
How much is a monthly mortgage payment in Freeport?
Based on the median home price of $377,000 with 20% down, the estimated monthly mortgage payment in Freeport is $1,962 for principal and interest. Including property taxes of $553/month, the total monthly housing cost is approximately $2,515.
What income do I need to buy a home in Freeport?
Using the 28% rule, you would need an annual income of approximately $107,786 to afford the median-priced home in Freeport at $377,000. The median household income in Freeport is $73,300. This means most households would need to either earn above the median or consider homes below $377,000.
Is Freeport a good place to buy a home in 2026?
Freeport has a higher cost of living than average with a cost of living index of 125.5 (national average = 100). The property tax rate in New York is 1.76%, which is above the national average. Freeport has a population of 43,713 and offers a balanced lifestyle.
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Freeport, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.