Current 30 Year Fixed Mortgage Rates by State & Credit

See your State’s 30 year fixed average mortgage rates by credit score. A 30 year fixed purchase loan is the most popular mortgage for buying a home. Your interest rate stays the same for 30 years, giving you predictable monthly payments and the lowest possible payment for a fixed-rate home loan.

Updated: July 1, 2026

30-Year Fixed Rates by State –

30-year purchase rates vary by state, credit score, and down payment amount. Rates change daily based on economic conditions and market demand. Click on a state to see all its rates for all loan products.

30-year Fixed rates		Credit Score
	720 - 850	690 - 719	620 - 689
Credit Unions	5.86%	5.91%	6.06%
Online lenders	5.96%	6.01%	6.16%
Banks	6.26%	6.31%	6.36%
Alabama	6.34%	6.39%	6.44%
Alaska	6.43%	6.48%	6.52%
Arizona	6.41%	6.46%	6.51%
Arkansas	6.32%	6.38%	6.43%
California	6.31%	6.36%	6.41%
Colorado	6.22%	6.27%	6.31%
Connecticut	6.30%	6.35%	6.40%
Delaware	6.32%	6.38%	6.43%
Florida	6.23%	6.29%	6.34%
Georgia	6.26%	6.31%	6.36%
Hawaii	6.44%	6.49%	6.54%
Idaho	6.36%	6.41%	6.46%
Illinois	6.32%	6.38%	6.43%
Indiana	6.38%	6.43%	6.48%
Iowa	6.44%	6.49%	6.54%
Kansas	6.13%	6.18%	6.23%
Kentucky	6.38%	6.43%	6.48%
Louisiana	6.18%	6.23%	6.27%
Maine	6.61%	6.66%	6.71%
Maryland	6.31%	6.36%	6.41%
Massachusetts	6.23%	6.27%	6.32%
Michigan	6.32%	6.38%	6.43%
Minnesota	6.50%	6.55%	6.60%
Mississippi	6.50%	6.55%	6.60%
Missouri	6.39%	6.44%	6.49%
Montana	6.36%	6.41%	6.46%
Nebraska	6.41%	6.46%	6.51%
Nevada	6.41%	6.46%	6.51%
New Hampshire	6.44%	6.49%	6.54%
New Jersey	6.26%	6.31%	6.36%
New Mexico	6.43%	6.48%	6.52%
New York	6.23%	6.29%	6.34%
North Carolina	6.23%	6.29%	6.34%
North Dakota	6.38%	6.43%	6.48%
Ohio	6.38%	6.43%	6.48%
Oklahoma	6.54%	6.59%	6.64%
Oregon	6.20%	6.25%	6.30%
Pennsylvania	6.14%	6.19%	6.24%
Rhode Island	6.26%	6.31%	6.36%
South Carolina	6.32%	6.38%	6.43%
South Dakota	6.48%	6.52%	6.58%
Tennessee	6.17%	6.22%	6.27%
Texas	6.06%	6.11%	6.16%
Utah	6.22%	6.27%	6.31%
Vermont	6.45%	6.50%	6.55%
Virginia	6.26%	6.31%	6.36%
Washington	6.12%	6.17%	6.22%
West Virginia	6.49%	6.54%	6.59%
Wisconsin	6.16%	6.21%	6.26%
Wyoming	6.40%	6.45%	6.50%
Other Terms - National Rates
30-year Fixed FHA	6.10%	6.15%	6.20%
30-year Fixed VA	5.84%	5.89%	5.94%
30-Year Fixed Jumbo	6.49%	6.87%	7.06%
20-year Fixed	6.01%	6.06%	6.11%
15-year Fixed	5.76%	5.81%	5.86%
10-year Fixed	5.69%	5.74%	5.79%
3-year ARM	7.44%	7.50%	7.55%
5-year ARM	6.38%	6.43%	6.48%
7-year ARM	6.32%	6.37%	6.42%
10-year ARM	6.23%	6.29%	6.34%

Source: MFP’s Community Home Purchase Rates Survey from the last 30 days.

Community Home Loan Lenders Recommendations

See which home lender could help purchase your new home cheaper and more easily. Find which home loan lenders are most recommended in your state and area. Thousands of homeowners in your state and area provide their feedback on their home lender.

What Affects Your Fixed Rate

Credit Score:

740+: Best available rates
680-739: Rates 0.25-0.50% higher
620-679: Rates 0.50-1.00% higher than top-tier
Below 620: Limited options with higher rates

Down Payment:

20%+ down: Best rates and no PMI
10-19% down: Good rates but PMI required
5-9% down: Slightly higher rates plus PMI
3% down: Higher rates and PMI, but still available

Loan Amount:

Conventional loans: Up to $766,550 in most areas (2024)
Jumbo loans: Above conforming limits with higher rates
High-cost areas: Conforming limits up to $1,149,825

MFP Tip: Shop with multiple lenders on the same day. Rates can vary by 0.25-0.50% between lenders for the same borrower. See community recommended best state and local lenders .

What is a 30-Year Fixed Purchase?

A 30-year fixed purchase loan is a mortgage you use to buy a home with an interest rate that never changes during the entire 30-year loan term. It’s the most common type of home loan in America.

How It Works

You borrow money to buy a house and make the same monthly payment for 360 months (30 years). Your interest rate is locked in from day one, so you know exactly what you’ll pay every month for the entire loan.

Each payment includes principal (paying down the loan balance) and interest. Early in the loan, most of your payment goes to interest. Later, more goes to principal as your balance shrinks.

The lender holds your home as collateral until you pay off the loan completely.

Main Features of 30-Year Fixed Purchase Loans

Fixed Interest Rate: Your rate never changes, even if market rates go up or down. This protects you from payment increases due to rising rates.

30-Year Term: You have exactly 360 monthly payments to pay off the loan. This long timeline keeps monthly payments as low as possible for fixed-rate loans.

Predictable Payments: Your principal and interest payment stays the same every month. Only taxes and insurance might change over time.

Build Equity Over Time: Each payment reduces your loan balance and increases your ownership stake in the home.

No Prepayment Penalties: Most 30-year fixed loans let you pay extra toward principal or pay off the loan early without fees.

Compared to Other Loan Types

30-Year Fixed vs. 15-Year Fixed

Monthly Payment: 30-year loans have monthly payments about 40-50% lower than 15-year loans on the same purchase.

Total Interest: You’ll pay much more interest over 30 years, typically $200,000+ more on a typical home purchase.

Interest Rate: 30-year rates are usually 0.25-0.75% higher than 15-year rates.

Equity Building: You build equity much slower with 30-year loans, especially in the early years.

Example on $400,000 purchase with $80,000 down ($320,000 loan):

30-year at 7.0%: $2,128/month, $446,080 total interest
15-year at 6.5%: $2,788/month, $181,840 total interest
Monthly difference: $660 more for 15-year
Interest savings with 15-year: $264,240

30-Year Fixed vs. Adjustable-Rate Mortgages

Rate Stability: 30-year fixed rates never change. ARM rates can increase significantly after the initial fixed period.

Initial Rates: ARMs typically start with lower rates than 30-year fixed loans, sometimes 0.5-1% lower.

Payment Risk: 30-year fixed payments stay the same. ARM payments can increase substantially when rates adjust.

Best For: 30-year fixed works better if you’re staying long-term. ARMs might save money if you’re moving in 5-7 years.

MFP Tip: Choose 30-year fixed if you want payment predictability and plan to stay in your home for many years.

Pros and Cons of 30-Year Fixed Purchase

Benefits

Lowest Monthly Payments: 30-year loans give you the smallest possible monthly payment for fixed-rate mortgages, making homeownership more affordable.

Payment Predictability: Your payment never changes, making it easy to budget and plan for the next 30 years.

Easier Qualification: Lower monthly payments help you qualify for larger loan amounts and meet debt-to-income requirements.

Cash Flow Flexibility: Lower payments free up money for other investments, emergency savings, or daily expenses.

Rate Protection: You’re protected from future interest rate increases throughout the entire loan term.

Most Widely Available: Nearly every lender offers 30-year fixed loans with competitive rates and programs.

Tax Benefits: Mortgage interest is typically tax-deductible, and 30-year loans generate more deductible interest in early years.

Cons

Much Higher Total Interest: You’ll pay significantly more interest over 30 years compared to shorter loan terms.

Slower Equity Building: It takes many years to build meaningful equity, especially early in the loan when most payments go to interest.

Higher Interest Rates: 30-year rates are typically higher than 15-year rates because of the extended risk to lenders.

Longer Debt Commitment: You’ll have mortgage payments for 30 years unless you refinance, sell, or pay extra.

Opportunity for Overspending: Lower payments might tempt you to buy more house than you really need.

When to Get a 30-Year Fixed

You Want the Lowest Monthly Payment: When keeping your housing payment as low as possible is your main priority.

You’re a First-Time Homebuyer: Lower payments help you adjust to homeownership expenses and build emergency savings.

You Have Other Financial Priorities: When you want to invest money in retirement accounts, kids’ college funds, or other investments instead of extra mortgage payments.

Your Income is Variable: Self-employed or commission-based workers benefit from lower required payments during slow periods.

You’re Buying in a High-Cost Area: When home prices are high, 30-year loans help make payments manageable.

You Plan to Move Eventually: If you might relocate in 7-10 years, you won’t benefit much from faster equity building.

Interest Rates Are High: When rates are elevated, 30-year loans minimize the payment impact compared to shorter terms.

You Want Payment Flexibility: With a 30-year loan, you can always pay extra when you have it, but you’re not required to.

MFP Tip: 30-year fixed loans work best when you value payment predictability and want maximum cash flow flexibility.

How to Qualify for 30-Year Fixed Purchase

Main Qualification Requirements

Credit Score:

740+ for best rates and easiest approval
680+ for good rates with most lenders
620+ for conventional loans
580+ for FHA loans
500+ for VA loans (for veterans)

Down Payment Options:

Conventional: 3% minimum (5-20% typical)
FHA: 3.5% minimum
VA: 0% for eligible veterans
USDA: 0% for eligible rural properties
20% down eliminates PMI requirement

Debt-to-Income Ratio:

Maximum 43% for conventional loans (some lenders allow up to 50%)
Maximum 57% for FHA loans
Lower DTI ratios get better rates
Includes all monthly debts: credit cards, car loans, student loans

Employment History:

Two years of steady employment in same field
W-2 employees: Recent pay stubs and tax returns
Self-employed: Two years of tax returns and profit/loss statements
Recent job changes in same field usually acceptable

Assets and Reserves:

Down payment funds (gift money often allowed)
Closing costs (typically 2-5% of purchase price)
2-6 months of mortgage payments in savings after closing
Larger reserves help with qualification

Property Requirements:

Home appraisal must support purchase price
Property must meet lender condition standards
Homeowner’s insurance required
Private mortgage insurance (PMI) if less than 20% down

Income Documentation:

W-2s from past two years
Recent pay stubs (usually 30 days)
Tax returns for self-employed or complex income
Bank statements showing assets
Documentation for any other income sources

MFP Tip: Get pre-approved before house hunting to know exactly how much you can borrow and show sellers you’re a serious buyer.

30-Year Fixed Purchase FAQs

How Much House Can I Afford with a 30-Year Loan?

A general rule is that your monthly housing payment (including taxes and insurance) should be no more than 28% of your gross monthly income.

For example, if you make $8,000 per month gross income:

Maximum housing payment: $2,240 (28% of $8,000)
Minus taxes and insurance: About $400-600/month
Available for principal and interest: $1,640-1,840
Loan amount at 7% rate: About $250,000-280,000
Purchase price with 10% down: $275,000-310,000

Should I Put Down More Than the Minimum?

Putting down 20% or more has several benefits:

Eliminates PMI (saves $100-400+ per month)
Often gets better interest rates
Lower monthly payments
More equity from day one
Stronger offers in competitive markets

But consider keeping some cash for:

Emergency fund (3-6 months expenses)
Moving and setup costs
Home repairs and improvements
Other investments with higher returns

Can I Pay Off a 30-Year Loan Early?

Yes, most 30-year loans allow extra payments without penalties. You can:

Add extra money to monthly payments
Make one extra payment per year
Apply windfalls (bonuses, tax refunds) to principal
Refinance to a shorter term later

Paying an extra $200/month on a $320,000 loan at 7% saves about $89,000 in interest and pays off the loan 6 years early.

What’s the Difference Between Interest Rate and APR?

Interest Rate: The cost of borrowing money, used to calculate your monthly payment.

APR (Annual Percentage Rate): Includes the interest rate plus other loan costs like origination fees, points, and mortgage insurance. APR gives you a better comparison between lenders.

Always compare APRs when shopping, not just interest rates.

Do I Need Perfect Credit for a 30-Year Fixed Loan?

No, you have several options based on your credit score: