Mortgage Rates in North Andover, Massachusetts — March 2026
Updated March 2026 | Based on North Andover market data and regional lending conditions
North Andover is a growing city in Massachusetts with a population of 31,187. The current 30-year fixed mortgage rate in North Andover is 6.64%, which is 0.01% below the national average. With a median home price of $608,000 and a 20% down payment of $121,600, homebuyers can expect a monthly principal and interest payment of approximately $3,119.
Current Mortgage Rates in North Andover, MA
Below are the current average mortgage rates available in the North Andover 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 | 6.64% | 6.65% | -0.01% |
| 15-Year Fixed | 5.9% | 5.89% | +0.01% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.89% | 6.85% | +0.04% |
North Andover Housing Market Overview
The North Andover housing market is competitive with prices well above the national median. The median household income in North Andover is $71,400, and the cost of living index is 136.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $159,086 to comfortably afford the median-priced home in North Andover, which exceeds the current median household income.
Monthly Payment Breakdown for North Andover
Based on the median home price of $608,000 with 20% down ($121,600), here is what you can expect to pay monthly in North Andover:
15-Year vs. 30-Year Mortgage in North Andover
Choosing a 15-year mortgage in North Andover at 5.9% instead of a 30-year at 6.64% would save you $388,800 in total interest over the life of the loan. However, your monthly payment would be $4,078 instead of $3,119 — an increase of $959 per month.
Calculate Your North Andover Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in North Andover
What are the current mortgage rates in North Andover, MA?
As of March 2026, the average 30-year fixed mortgage rate in North Andover, Massachusetts is 6.64%, while the 15-year fixed rate is 5.9%. FHA loans average 6.45% and VA loans 6.2%. These rates are 0.01% below the national average of 6.65%.
How much is a monthly mortgage payment in North Andover?
Based on the median home price of $608,000 with 20% down, the estimated monthly mortgage payment in North Andover is $3,119 for principal and interest. Including property taxes of $593/month, the total monthly housing cost is approximately $3,712.
What income do I need to buy a home in North Andover?
Using the 28% rule, you would need an annual income of approximately $159,086 to afford the median-priced home in North Andover at $608,000. The median household income in North Andover is $71,400. This means most households would need to either earn above the median or consider homes below $608,000.
Is North Andover a good place to buy a home in 2026?
North Andover has a higher cost of living than average with a cost of living index of 136.2 (national average = 100). The property tax rate in Massachusetts is 1.17%, which is near the national average. North Andover has a population of 31,187 and offers a balanced lifestyle.
Mortgage Rates in Other Massachusetts Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the North Andover, Massachusetts area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.