»
»
Norfolk

Current Mortgage Rates in Norfolk, Massachusetts

Compare mortgage rates and fees for leading lenders in Norfolk, MA. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Norfolk.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Norfolk. Plus, shopping lenders is free and there is no obligation.

%
Mortgage Rates in Norfolk, MA as of September 18, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

How Do Today's Norfolk, MA Mortgage Rates Compare?

September 18, 2020

The current average rate for a 30 year fixed rate mortgage in Norfolk is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Norfolk, MA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Norfolk, Massachusetts?

Below we provide helpful information on the real estate market, home prices and housing affordability in Norfolk. Understand how much you need to earn to afford a home in Norfolk, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Norfolk fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Norfolk is right for you.

The median home value for Norfolk, MA is $501,084

Based on current mortgage rates and a 10% down payment, you need to make $90,182 per year to buy the median priced home in Norfolk

With this income, you could qualify for a $450,976 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Norfolk is $2,088

The median household income for Norfolk, MA is $100,895

Based on this income, you can afford a home valued at approximately $560,611

The home price you can afford to buy based on household income in Norfolk is 112% of the median home value which means housing prices are average. Norfolk ranks 8 out of 14 counties in Massachusetts and 2,910 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Norfolk, MA is average

orange-simple-house
ruler

Loan Limits for Norfolk, Massachusetts

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Norfolk below.

Conforming loan limits for Norfolk, MA

1 unit: $690,000
2 units: $883,300
3 units: $1,067,750
4 units: $1,326,950

FHA loan limits for Norfolk, MA

1 unit: $690,000
2 units: $883,300
3 units: $1,067,750
4 units: $1,326,950

VA loan limits for Norfolk, MA

1 unit: $690,000

Additional Mortgage Resources for Norfolk, MA Residents

Mortgage Rates for Massachusetts Cities

Amherst Mortgage Rates

Barnstable Town Mortgage Rates

Boston Mortgage Rates

Cambridge Mortgage Rates

Essex Mortgage Rates

New Bedford Mortgage Rates

Norfolk Mortgage Rates

Pittsfield Mortgage Rates

Plymouth Mortgage Rates

Springfield Mortgage Rates

Worcester Mortgage Rates