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Lender Tables
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Compare Current Schenectady, New York Mortgage Rates
Compare Schenectady, NY mortgage rates and fees from top lenders. 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 lowest mortgage rates in Schenectady.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Schenectady. Plus, shopping lenders is free and there is no obligation.
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Schenectady, NY Mortgage Rates as of July 11, 2025
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Schenectady, NY Mortgage Rates
July 11, 2025
Current mortgage rates in Schenectady, NY are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)
Mortgage Program
Today's Schenectady, NY Rates
National Average
Comparison
30 Year Fixed Rate
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6.670%
15 Year Fixed Rate
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5.960%
5/1 Adjustable Rate Mortgage
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6.250%
How Affordable is Housing in Schenectady, New York?
Below we provide helpful information on the real estate market, home prices and housing affordability in Schenectady. Understand how much you need to earn to afford a home in Schenectady, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Schenectady 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 Schenectady is right for you.
The median home value for Schenectady, NY is $214,426
Based on current mortgage rates and a 10% down payment, you need to make $44,733 per year to buy the median priced home in Schenectady
With this income, you could qualify for a $192,983 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 Schenectady is $1,036
The median household income for Schenectady, NY is $76,383
Based on this income, you can afford a home valued at approximately $366,142
The home price you can afford to buy based on household income in Schenectady is 171% of the median home value which means housing prices are average.
Schenectady ranks 31 out of 62 counties in New York and 1,367 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Schenectady, NY is average
Loan Limits for Schenectady, New York
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Schenectady below.
Conforming loan limits for Schenectady, NY
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Schenectady, NY
1 unit:$472,030
2 units:$604,400
3 units:$730,525
4 units:$907,900
VA loan limits for Schenectady, NY
1 unit:$726,200
Additional Mortgage Resources for Schenectady, NY Residents