Mortgage Rates in Lake Mary, Florida — March 2026
Updated March 2026 | Based on Lake Mary market data and regional lending conditions
Lake Mary is a growing city in Florida with a population of 17,485. The current 30-year fixed mortgage rate in Lake Mary is 6.65%, which is at the national average. With a median home price of $367,000 and a 20% down payment of $73,400, homebuyers can expect a monthly principal and interest payment of approximately $1,885.
Current Mortgage Rates in Lake Mary, FL
Below are the current average mortgage rates available in the Lake Mary 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 | 6.65% | 6.65% | 0% |
| 15-Year Fixed | 5.91% | 5.89% | +0.02% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.9% | 6.85% | +0.05% |
Lake Mary Housing Market Overview
The Lake Mary housing market reflects moderate demand with prices near the national average. The median household income in Lake Mary is $57,900, and the cost of living index is 101.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $91,286 to comfortably afford the median-priced home in Lake Mary, which exceeds the current median household income.
Monthly Payment Breakdown for Lake Mary
Based on the median home price of $367,000 with 20% down ($73,400), here is what you can expect to pay monthly in Lake Mary:
15-Year vs. 30-Year Mortgage in Lake Mary
Choosing a 15-year mortgage in Lake Mary at 5.91% instead of a 30-year at 6.65% would save you $235,260 in total interest over the life of the loan. However, your monthly payment would be $2,463 instead of $1,885 — an increase of $578 per month.
Calculate Your Lake Mary 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 Lake Mary
What are the current mortgage rates in Lake Mary, FL?
As of March 2026, the average 30-year fixed mortgage rate in Lake Mary, Florida is 6.65%, while the 15-year fixed rate is 5.91%. FHA loans average 6.45% and VA loans 6.2%. These rates are at the national average of 6.65%.
How much is a monthly mortgage payment in Lake Mary?
Based on the median home price of $367,000 with 20% down, the estimated monthly mortgage payment in Lake Mary is $1,885 for principal and interest. Including property taxes of $245/month, the total monthly housing cost is approximately $2,130.
What income do I need to buy a home in Lake Mary?
Using the 28% rule, you would need an annual income of approximately $91,286 to afford the median-priced home in Lake Mary at $367,000. The median household income in Lake Mary is $57,900. This means most households would need to either earn above the median or consider homes below $367,000.
Is Lake Mary a good place to buy a home in 2026?
Lake Mary has a moderate cost of living with a cost of living index of 101.5 (national average = 100). The property tax rate in Florida is 0.8%, which is below the national average. Lake Mary has a population of 17,485 and offers a balanced lifestyle.
Mortgage Rates in Other Florida Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Lake Mary, Florida area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.