Mortgage Rates in Savoy, Massachusetts — March 2026
Updated March 2026 | Based on Savoy market data and regional lending conditions
Savoy is a smaller Massachusetts community of 29,350 where the housing market reflects local economic conditions. The current 30-year fixed rate here is 6.67% (0.02% above the national average). The median home price of $520,000 translates to roughly $3,222/month with 20% down — requiring an income of about $138,086, which exceeds the local median of $74,500.
Current Mortgage Rates in Savoy, MA
Below are the current average mortgage rates available in the Savoy 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 | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.93% | 5.89% | +0.04% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Savoy Housing Market Overview
Savoy's housing market is competitive — median prices of $520,000 put it well above the national median of ~$400,000. Buyers here face higher barriers to entry, but the local economy (median household income: $74,500) may not fully support current asking prices.
Monthly Payment Breakdown for Savoy
Based on the median home price of $520,000 with 20% down ($104,000), here is what you can expect to pay monthly in Savoy:
15-Year vs. 30-Year Mortgage in Savoy
Choosing a 15-year mortgage in Savoy at 5.93% instead of a 30-year at 6.67% would save you $334,260 in total interest over the life of the loan. However, your monthly payment would be $3,495 instead of $2,676 — an increase of $819 per month.
Calculate Your Savoy 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 Savoy
What are the current mortgage rates in Savoy, MA?
As of March 2026, the average 30-year fixed mortgage rate in Savoy, Massachusetts is 6.67%, while the 15-year fixed rate is 5.93%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Savoy?
Based on the median home price of $520,000 with 20% down, the estimated monthly mortgage payment in Savoy is $2,676 for principal and interest. Including property taxes of $546/month, the total monthly housing cost is approximately $3,222.
What income do I need to buy a home in Savoy?
Using the 28% rule, you would need an annual income of approximately $138,086 to afford the median-priced home in Savoy at $520,000. The median household income in Savoy is $74,500. This means most households would need to either earn above the median or consider homes below $520,000.
Is Savoy a good place to buy a home in 2026?
Savoy has a higher cost of living than average with a cost of living index of 122.6 (national average = 100). The property tax rate in Massachusetts is 1.26%, which is near the national average. Savoy has a population of 29,350 and offers a balanced lifestyle.
Mortgage Rates in Other Massachusetts Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Savoy, Massachusetts area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.