30-Year Fixed Jumbo Mortgage Refinance Interest Rates in Lynn, MA
Explore 30-year jumbo mortgage interest rates in Lynn, MA over time.
Current Interest Rate: 6.95%
Optimal Blue, 30-Year Fixed Rate Jumbo Mortgage Index [OBMMIJUMBO30YF], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/OBMMIJUMBO30YF
Compare mortgage rates in Lynn, Massachusetts
Showing results for: 30-Year Fixed refinance offers for Single Family or Townhome properties in MA, total loan amount of $800,000.
| Lender | APR | Monthly Payment | Rate | |
|---|---|---|---|---|
 NMLS #2598612 | 6.033%30-Year FixedLowest APR | $1,349Fees & Points: $4,113Includes 1.361 Points ($3,103)Lowest Payment | 5.875% | |
 NMLS #401822 | 6.359%30-Year Fixed | $1,386Fees & Points: $5,700Includes 1.500 Points ($3,420) | 6.125% |
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details
What is a 30-year fixed jumbo mortgage in Lynn, Massachusetts?
A 30-year fixed jumbo mortgage in Lynn, Massachusetts is a home loan that exceeds the conforming loan limits set by the FHFA, typically around $726,200. This mortgage has a fixed interest rate and consistent monthly payments over 30 years, suitable for high-value properties in Lynn, Massachusetts.
How do jumbo mortgage rates in Lynn, MA compare to conventional mortgage rates?
In Lynn, MA, jumbo mortgage rates are generally higher than conventional rates due to the increased risk for lenders. Rates can vary based on your financial profile and market conditions in Lynn, MA.
What are the requirements for a 30-year jumbo mortgage in Lynn, Massachusetts?
Lenders in Lynn, Massachusetts usually require a higher credit score (typically 700+), a larger down payment (often 20% or more), and a lower debt-to-income ratio compared to conventional loans.
Can I refinance a 30-year jumbo mortgage in Lynn, MA?
Yes, refinancing a jumbo mortgage in Lynn, MA is possible and can help secure a lower rate or change the loan terms. The process may be more stringent due to the higher loan amount.
What are the benefits of a 30-year fixed jumbo mortgage in Lynn, Massachusetts?
Benefits include financing higher-value properties, fixed interest rates for stability, and consistent monthly payments over 30 years for homes in Lynn, Massachusetts.
Are there closing costs for jumbo mortgages in Lynn, MA?
Yes, closing costs in Lynn, MA can be higher than for conventional loans due to the larger loan amounts and additional scrutiny during approval. They typically range from 2% to 5% of the loan amount.
How can I get the best 30-year jumbo mortgage rate in Lynn, MA?
To get the best rate in Lynn, MA, maintain a high credit score, save for a substantial down payment, and compare offers from multiple lenders. Economic conditions and lender policies in Lynn, MA also play a role.
What is the difference between a conforming and a jumbo loan in Lynn, Massachusetts?
A conforming loan in Lynn, Massachusetts adheres to the FHFA limits and can be purchased by Fannie Mae or Freddie Mac. A jumbo loan exceeds these limits and is not eligible for purchase by these entities, resulting in different qualifying criteria and potentially higher rates.