Current Mortgage Rates in Worcester, Massachusetts

Compare mortgage rates and fees for leading lenders in Worcester, 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 Worcester.

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

Mortgage Rates in Worcester, MA as of September 25, 2020
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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.


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

September 25, 2020

The current average rate for a 30 year fixed rate mortgage in Worcester 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
Worcester, MA Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Worcester, Massachusetts?

Below we provide helpful information on the real estate market, home prices and housing affordability in Worcester. Understand how much you need to earn to afford a home in Worcester, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Worcester 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 Worcester is right for you.

The median home value for Worcester, MA is $319,982

Based on current mortgage rates and a 10% down payment, you need to make $57,588 per year to buy the median priced home in Worcester

With this income, you could qualify for a $287,984 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 Worcester is $1,334

The median household income for Worcester, MA is $73,100

Based on this income, you can afford a home valued at approximately $406,172

The home price you can afford to buy based on household income in Worcester is 127% of the median home value which means housing prices are average. Worcester ranks 5 out of 14 counties in Massachusetts and 2,800 out of 3,142 counties in the United States for housing affordability.

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


Loan Limits for Worcester, Massachusetts

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

Conforming loan limits for Worcester, MA

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Worcester, MA

1 unit: $339,250
2 units: $434,300
3 units: $524,950
4 units: $652,400

VA loan limits for Worcester, MA

1 unit: $510,400

Additional Mortgage Resources for Worcester, MA Residents

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