Compare current condo mortgage rates

Written by

Jeff Ostrowski

Edited by

Amelia Buckley,

Reviewed by

Thomas Brock, CFA, CPA,

Expert verified

Updated on June 30, 2026

On Tuesday, June 30, 2026, the national average 30-year fixed mortgage APR is 6.59%, according to Bankrate's latest survey of the nation's largest mortgage lenders. Use Bankrate's rate table to compare today's condo mortgage APRs.

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Condo mortgage rates today

Showing results for: Condominium, 5 year ARM and 30 year fixed mortgages with all points options.

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Tomo Mortgage 30 Year Fixed

NMLS #2059741 | State Lic: RM.804811.000

Rate as of 6/30/26: 5.490%
APR: 5.717%
Points: 1.862
Monthly payment: $2,001
Upfront costs: $8,2548 year cost: $153,141
Customer score

Third Federal Savings and Loan 30 Year Fixed

NMLS #449401

Rate as of 6/30/26: 5.690%
APR: 5.914%
Points: 2
Monthly payment: $2,041
Upfront costs: $8,4358 year cost: $159,290
Customer score

Sage Home Loans 30 Year Fixed

NMLS #3304 | State Lic: RM.850026.000

Rate as of 6/30/26: 5.875%
APR: 6.094%
Points: 1.902
Monthly payment: $2,082
Upfront costs: $8,1898 year cost: $164,235
Customer score

Third Federal Savings and Loan 5/1 Arm

NMLS #449401

Rate as of 6/30/26: 5.840%
APR: 5.754%
Points: 1
Monthly payment: $2,074
Upfront costs: $4,9158 year cost: $170,033
Customer score

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About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our “Advertisers”). Other lenders' terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a “Next” button that can be used to click-through to the Advertiser's own website or a phone number for the Advertiser.

Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.

Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertisers phone number when you click-through to their website. In addition, credit unions may require membership.

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Table of contents

Current condo mortgage rates
How to get a condo mortgage
What are the different types of condo mortgages?
Condo mortgage FAQ
Additional resources for condo mortgages

Current condo mortgage rates

Generally, condo mortgages have slightly higher interest rates than mortgages for standard, single-family homes. This is due to the perception by lenders that condo mortgages are riskier, particularly if the mortgage is for a second home or investment property.

Rates for condo loans remain higher now than they have been in recent years, though economic uncertainty has driven rates on all types of loans lower in recent months.

How do condo mortgages differ from conventional mortgages?

Condo mortgages and loans for standard, single-family homes are similar in many ways. For example, a condo mortgage can be a conventional or government-backed loan. However, there are some differences in the process of getting a mortgage for a single-family home versus a condo. These include:

Condo mortgages call for additional documentation because lenders screen both the borrower and the condo project. The lender looks at how many units the community has, for instance, and the proportion of owner-occupied to tenant-occupied units, as well as the community's financial footing and insurance coverage.
Those extra steps can also cost you more at closing, both in terms of time — it can take longer for the lender to do a thorough assessment — and money, since there could be fees to obtain the documents.
Getting financing for a condo might require a higher down payment, depending on the type of loan you get. However, you'll still likely put less money down on a condo because they're generally less expensive than single-family homes.

How to get a condo mortgage

Getting a condo mortgage can be more difficult than getting a loan for a single-family home because your lender considers more than just your personal finances and the property — it also scrutinizes the whole development. Here are some of the basic requirements you’ll need to meet:

Credit score requirements: A conventional condo mortgage typically requires a minimum credit score of 620. For an FHA loan, you’ll need a score of at least 580 with 3.5 percent down.
Debt-to-income (DTI) ratio: For a conventional condo mortgage, you’ll generally need a DTI ratio of no more than 45 percent. For an FHA loan, the maximum is 50 percent, and for a VA or USDA loan, it's 41 percent.
Down payment: Conventional mortgages require a minimum of 3 percent down, while FHA mortgages require at least 3.5 percent, and USDA and VA loans have no set down payment requirement.

When you’re ready to get a condo loan, start by:

Reviewing your credit and finances.

Your credit score is the primary driver of your mortgage rate, so if it needs work, now’s the time to address it. Likewise, while you don’t necessarily need 20 percent down, the more you can save, the more flexibility you’ll have.
Compare mortgage lenders and offers.

There are many ways to finance a condo. Doing the legwork can help you uncover the best — and lowest-cost — option.
Get preapproved.

Once you have a lender in mind, get preapproved. That way, you can make an offer immediately when you find the right property.

Learn more: How do condo mortgages work?

What are the different types of condo mortgages?

If you’re planning to buy a condo to live in, you might qualify for one or more of the following mortgage options:

Conventional loans – 3 percent or 5 percent down, with a 620 minimum credit score
FHA loans – 3.5 percent down with a 580 minimum credit score, or 10 percent down with a 500 minimum credit score; must be for an FHA-approved condo
VA loans – No minimum down payment or credit score; must be an eligible service member or veteran; must be for a VA-approved condo
USDA loans – No minimum down payment or credit score; must be in an eligible location

If none of these options work for you, look into a non-warrantable condo loan. Non-warrantable condos don’t meet the federal operational and/or financial standards required for many types of condo mortgages.

FAQ

A condo is an individual unit in a community of other units, typically managed by a homeowners association, or HOA, and can come with access to common spaces like a gym or pool.
If you can’t pay cash for a condo, you’ll need a loan. The advantages of a condo mortgage include financing a property that’s often cheaper than a single-family home, so you’ll borrow and repay a lower amount. That said, the loan might come with a higher interest rate, and you’ll need to supply more paperwork in underwriting.
Aside from a condo, you might be interested in a townhouse or a cooperative or co-op unit, which are most common in New York City. Both have upsides and drawbacks, but both could be less expensive than a single-family home.
You can refinance a condo mortgage, but as with getting a mortgage for the purchase of the property, there are often more hoops to jump through than with the refinance of a single-family home. You and the condo project must also meet the requirements of the loan type you’re using to refinance.

Similar to refinancing a mortgage on a single-family home, you can prepare to refinance your condo mortgage by checking your credit and home equity level; gathering proof of income, including bank statements, pay stubs and W-2s; and preparing to pay closing costs. It’s also important to consider why you want to refinance. Most homeowners are looking to lower their rate, but there can be other worthwhile reasons to refinance, too.

Additional resources for condo mortgages

Meet our Bankrate experts

Written by

Jeff Ostrowski Jeff Ostrowski

Writer and Housing Market Analyst

Compare current condo mortgage rates

Don't be like the 90% of buyers who overpay

Condo mortgage rates today

Current condo mortgage rates

How do condo mortgages differ from conventional mortgages?

How to get a condo mortgage

Reviewing your credit and finances.

Compare mortgage lenders and offers.

Get preapproved.

What are the different types of condo mortgages?

FAQ

What is a condo?

Should you get a condo mortgage?

What are some alternatives to purchasing a condo?

Can you refinance a condo mortgage?

Additional resources for condo mortgages

Meet our Bankrate experts

Mortgage rates in other states