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Find and compare the best mortgage rates for a condominium from lenders in your area.

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About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.

Single family home mortgage rate trends (APR)

NerdWallet’s mortgage rate insight

2.834%
30-year fixed

On Tuesday, Dec. 1, 2020, the average rate on a 30-year fixed-rate mortgage fell four basis points to 2.834%, the average rate on a 15-year fixed-rate mortgage fell two basis points to 2.424% and the average rate on a 5/1 ARM rose two basis points to 2.946%, according to a NerdWallet survey of mortgage rates published daily by national lenders. A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR. The 30-year fixed-rate mortgage is six basis points lower than one week ago and 116 basis points lower than one year ago.

Current mortgage and refinance rates

ProductInterest rateAPR
30-year fixed rate2.712%2.834%
15-year fixed rate2.214%2.424%
5/1 ARM rate2.725%2.946%

Data source: NerdWallet mortgage rate index

Condo Mortgage Rates

Buying a condo can mean homeownership with fewer maintenance headaches. And amenities — like fitness facilities, a pool and spa; perhaps even a cafe. While condo mortgage terms are often different than terms on single-family home loans, you’ll still want to shop for the best interest rate.

The NerdWallet condo mortgage rate tool returns customized interest rate offers in just seconds.

What are the differences between a mortgage on a condo and a house?

Because condo values are primarily based on the property as a whole, not just your unit, condo mortgage approval relies on your creditworthiness and the condo’s qualifications, too. That can include the value and condition of amenities, the homeownership association’s budget and financial stability — even the percentage of space dedicated to nonresidential purposes.

Another condo loan wrinkle: The lender will determine if the HOA or developer has any pending litigation against it that might impact the future value of the property.

How do mortgage rates on condos compare to mortgages on houses?

Condo mortgage rates are typically a little higher than on single-family homes. It’s a matter of the lender pricing in the risk of community-living structures. There are simply a lot of things that impact the value of the property that are out of the control of a single-unit owner.

Learn more about financing second homes:

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