Mortgage Rates in Farmington, Delaware — March 2026
Updated March 2026 | Based on Farmington market data and regional lending conditions
Farmington is a smaller Delaware community of 24,834 where the housing market reflects local economic conditions. The current 30-year fixed rate here is 6.71% (0.06% above the national average). The median home price of $390,000 translates to roughly $2,203/month with 20% down — requiring an income of about $94,414, which exceeds the local median of $73,000.
Current Mortgage Rates in Farmington, DE
Below are the current average mortgage rates available in the Farmington 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 | 6.71% | 6.65% | +0.06% |
| 15-Year Fixed | 5.96% | 5.89% | +0.07% |
| 5/1 ARM | 6.23% | 6.15% | +0.08% |
| FHA | 6.48% | 6.25% | +0.23% |
| VA | 6.23% | 6.05% | +0.18% |
| Jumbo | 6.96% | 6.85% | +0.11% |
Farmington Housing Market Overview
Housing in Farmington sits near the national average at $390,000. With a median household income of $73,000 and a cost of living index of 109.4, some buyers may need to look at lower price points or consider larger down payments.
Monthly Payment Breakdown for Farmington
Based on the median home price of $390,000 with 20% down ($78,000), here is what you can expect to pay monthly in Farmington:
15-Year vs. 30-Year Mortgage in Farmington
Choosing a 15-year mortgage in Farmington at 5.96% instead of a 30-year at 6.71% would save you $252,720 in total interest over the life of the loan. However, your monthly payment would be $2,626 instead of $2,015 — an increase of $611 per month.
Calculate Your Farmington 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 Farmington
What are the current mortgage rates in Farmington, DE?
As of March 2026, the average 30-year fixed mortgage rate in Farmington, Delaware is 6.71%, while the 15-year fixed rate is 5.96%. FHA loans average 6.48% and VA loans 6.23%. These rates are 0.06% above the national average of 6.65%.
How much is a monthly mortgage payment in Farmington?
Based on the median home price of $390,000 with 20% down, the estimated monthly mortgage payment in Farmington is $2,015 for principal and interest. Including property taxes of $188/month, the total monthly housing cost is approximately $2,203.
What income do I need to buy a home in Farmington?
Using the 28% rule, you would need an annual income of approximately $94,414 to afford the median-priced home in Farmington at $390,000. The median household income in Farmington is $73,000. This means most households would need to either earn above the median or consider homes below $390,000.
Is Farmington a good place to buy a home in 2026?
Farmington has a moderate cost of living with a cost of living index of 109.4 (national average = 100). The property tax rate in Delaware is 0.58%, which is below the national average. Farmington has a population of 24,834 and offers a balanced lifestyle.
Mortgage Rates in Other Delaware Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Farmington, Delaware area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.