Mortgage Rates in Coram, New York — March 2026
Updated March 2026 | Based on Coram market data and regional lending conditions
Coram is a growing city in New York with a population of 39,113. The current 30-year fixed mortgage rate in Coram is 6.62%, which is 0.03% below the national average. With a median home price of $464,000 and a 20% down payment of $92,800, homebuyers can expect a monthly principal and interest payment of approximately $2,376.
Current Mortgage Rates in Coram, NY
Below are the current average mortgage rates available in the Coram area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.62% | 6.65% | -0.03% |
| 15-Year Fixed | 5.89% | 5.89% | 0% |
| 5/1 ARM | 6.17% | 6.15% | +0.02% |
| FHA | 6.44% | 6.25% | +0.19% |
| VA | 6.19% | 6.05% | +0.14% |
| Jumbo | 6.87% | 6.85% | +0.02% |
Coram Housing Market Overview
The Coram housing market reflects moderate demand with prices near the national average. The median household income in Coram is $68,000, and the cost of living index is 123.7 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $129,686 to comfortably afford the median-priced home in Coram, which exceeds the current median household income.
Monthly Payment Breakdown for Coram
Based on the median home price of $464,000 with 20% down ($92,800), here is what you can expect to pay monthly in Coram:
15-Year vs. 30-Year Mortgage in Coram
Choosing a 15-year mortgage in Coram at 5.89% instead of a 30-year at 6.62% would save you $295,560 in total interest over the life of the loan. However, your monthly payment would be $3,110 instead of $2,376 — an increase of $734 per month.
Calculate Your Coram Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Coram
What are the current mortgage rates in Coram, NY?
As of March 2026, the average 30-year fixed mortgage rate in Coram, New York is 6.62%, while the 15-year fixed rate is 5.89%. FHA loans average 6.44% and VA loans 6.19%. These rates are 0.03% below the national average of 6.65%.
How much is a monthly mortgage payment in Coram?
Based on the median home price of $464,000 with 20% down, the estimated monthly mortgage payment in Coram is $2,376 for principal and interest. Including property taxes of $650/month, the total monthly housing cost is approximately $3,026.
What income do I need to buy a home in Coram?
Using the 28% rule, you would need an annual income of approximately $129,686 to afford the median-priced home in Coram at $464,000. The median household income in Coram is $68,000. This means most households would need to either earn above the median or consider homes below $464,000.
Is Coram a good place to buy a home in 2026?
Coram has a higher cost of living than average with a cost of living index of 123.7 (national average = 100). The property tax rate in New York is 1.68%, which is above the national average. Coram has a population of 39,113 and offers a balanced lifestyle.
Mortgage Rates in Other New York Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Coram, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.