· Freddie Mac PMMS
Informational only. 30YearMortgageRates.com is not a lender. Rates shown are national/regional averages sourced from Freddie Mac PMMS. Actual terms vary by borrower, lender, and market conditions. Full disclosures.
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Buffalo, NY MORTGAGE RATES • UPDATED

30-Year Mortgage Rates in Buffalo, NY

Compare current 30-year fixed mortgage rates in Buffalo, NY. Find the best local lenders, understand Buffalo market trends, and secure competitive rates for your home purchase or refinance.

$225,000
Median Home Price
6.37%
Avg 30-Yr Rate
Northeast
Market Region
Quick Answer

As of April 2026, the average 30-year fixed mortgage rate in Buffalo, NY is approximately 6.37%, based on national survey data from Freddie Mac. Rates in Buffalo generally track the Northeast average, influenced by local housing demand, lender competition, and economic conditions. The median home price in Buffalo is approximately $225,000. Western NY resurgence.

Expert Answer · Data-Verified

How do I get a 30-year fixed mortgage in Buffalo, NY?

As of April 18, 2026, the average 30-year fixed mortgage rate in Buffalo, NY is approximately 6.37%, based on Freddie Mac Primary Mortgage Market Survey (PMMS) data. The median home price in Buffalo, NY is approximately $480,000, making the estimated monthly principal and interest payment on a 20%-down conventional loan approximately $1,926.

Borrowers in Buffalo, NY can choose among conventional 30-year fixed, FHA, VA, USDA, and jumbo loans. The 2026 FHA loan limit in New York is $524,225 for a single-family home, which means the majority of Buffalo, NY purchases qualify for FHA financing with as little as 3.5% down for credit scores of 580 or higher. VA loans offer zero down payment for eligible veterans and active-duty service members. Jumbo loans apply above the conforming and FHA limits and generally require credit scores above 700 and 10–20% down.

To secure the best available rate in Buffalo, NY, compare APRs (not just rates) from at least three NY-licensed lenders within a 14-day window so credit inquiries score as a single event. Credit scores of 740 or higher typically receive the lowest rates; scores below 680 pay 0.25%–0.75% more. First-time buyers may qualify for the SONYMA Achieving the Dream program, which can provide down payment assistance and below-market interest rates. Rate locks in New York typically run 30–60 days from pre-approval to closing.

Source: Freddie Mac PMMS. Last reviewed . Reviewed by 30YearMortgageRates.com editorial team. Rate shown is an informational regional average, not a lender offer. 30YearMortgageRates.com is not a lender. Actual terms vary by borrower qualifications, lender, and market conditions.

Current Mortgage Rates in Buffalo, NY

Compare average mortgage rates available to Buffalo borrowers. Rates are based on national averages from Freddie Mac and may vary by lender, credit score, and loan amount.

Loan TypeRateAPREst. Payment
30-Year Fixed6.37%6.82%$1,925/mo
15-Year Fixed5.90%6.12%$2,585/mo
FHA 30-Year6.25%7.15%$1,845/mo
VA 30-Year6.15%6.38%$1,815/mo
Jumbo 30-Year6.85%7.02%$2,125/mo

Top Mortgage Lenders in Buffalo, NY

Compare mortgage lenders serving Buffalo borrowers. All lenders shown are licensed to operate in New York.

Full-Service Mortgage Bank
  • Competitive 30-year fixed rates
  • Local Buffalo branch offices
  • Same-day pre-approval available
  • Dedicated NY loan officers
View Lender Details

Licensed NY Mortgage Broker
  • Low rate guarantee programs
  • Online application portal
  • First-time buyer specialists
  • Down payment assistance guidance
View Lender Details

Regional Mortgage Company
  • Serving New York since 2005
  • FHA/VA/USDA loan options
  • Free rate lock for 60 days
  • Local market expertise
View Lender Details

Buffalo Housing Market Overview

Understanding the Buffalo real estate market helps borrowers make informed mortgage decisions in New York.

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Buffalo Home Prices

The median home price in Buffalo is approximately $225,000. Local prices reflect the Northeast market dynamics and Buffalo's specific economic conditions and housing supply.

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Buffalo Market Trends

Buffalo's housing market reflects broader New York trends. Local inventory levels, days on market, and price appreciation help determine the best timing for mortgage applications.

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Cost of Living in Buffalo

Buffalo's cost of living, including property taxes and insurance rates, affects the total homeownership cost beyond the mortgage payment for NY residents.

Factors Affecting Mortgage Rates in Buffalo

Several local and national factors influence the mortgage rates available to Buffalo homebuyers.

Credit Score in Buffalo

Your credit score is the biggest factor in your Buffalo mortgage rate. Aim for 740+ for the best rates. Borrowers with excellent credit save thousands over the life of a 30-year loan.

Down Payment & LTV

A 20% down payment on a $225,000 home in Buffalo avoids PMI. FHA loans allow 3.5% down, making homeownership more accessible in Buffalo's market.

Local Lender Competition

Shopping 3-4 Buffalo-area lenders can save 0.25-0.5% on your rate. Compare banks, credit unions, and mortgage brokers serving the Buffalo market.

Rate Lock Strategy

When you find a competitive rate in Buffalo, lock it. Rate locks of 30-60 days protect you from market volatility during the closing process in NY.

Frequently Asked Questions: Buffalo Mortgage Rates

What is the current 30-year mortgage rate in Buffalo, NY?+

The average 30-year fixed rate in Buffalo is approximately 6.37% as of April 2026, based on Freddie Mac data. Your actual rate depends on credit score, down payment, loan amount, and lender. Shopping multiple Buffalo lenders typically saves 0.25-0.5%.

How much is a down payment on a home in Buffalo?+

With a median home price of $225,000 in Buffalo, a 20% down payment would be about $45,000. FHA loans require just 3.5% down, and VA loans offer zero down for eligible veterans in NY.

What credit score do I need for the best rates in Buffalo?+

For the best mortgage rates in Buffalo, aim for a credit score of 740+. Scores of 760+ get the absolute best rates. FHA loans in NY accept scores as low as 580 with 3.5% down.

Are there first-time homebuyer programs in Buffalo?+

Yes. The New York Housing Finance Authority offers down payment assistance and below-market rate programs. Federal programs including FHA, VA, and USDA loans are also available to Buffalo buyers. Contact local lenders for current program availability.

Should I choose a 30-year or 15-year mortgage in Buffalo?+

A 30-year fixed offers lower monthly payments, ideal for Buffalo buyers wanting payment flexibility. A 15-year saves on total interest but requires higher payments. With Buffalo's median price of $225,000, most buyers choose the 30-year for affordability.

Back to New York Rates

Compare Nearby Mortgage Markets

Explore mortgage rates and housing data in nearby cities to find the best market for your home purchase.

More Cities in New York

New York City, NY$745,000Median Home PriceAlbany, NY$265,000Median Home PriceRochester, NY$195,000Median Home PriceSyracuse, NY$185,000Median Home Price

Nearby State Markets

Newark, NJ$385,000Median Home PriceJersey City, NJ$545,000Median Home PricePhiladelphia, PA$265,000Median Home PricePittsburgh, PA$215,000Median Home PriceHartford, CT$275,000Median Home PriceNew Haven, CT$285,000Median Home PriceBoston, MA$750,000Median Home PriceCambridge, MA$875,000Median Home Price
View All New York Mortgage Rates →

Top Mortgage Lenders in Buffalo, New York

Compare featured mortgage lenders serving the Buffalo area

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