Wilmington, Massachusetts Refinance Rates - September 2026
Brian McKay
Brian McKay
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Current mortgage refinance rates in Wilmington, Massachusetts include Align Credit UnionAlign Credit Union211G Lowell St, Wilmington, MA, 01887A5.0 ★Texas Ratio: 11.01% at 6.75%, Citizens BankCitizens Bank224 Main St, Wilmington, MA, 01887A5.0 ★Texas Ratio: 7.72% at 7.25%, Institution for SavingsInstitution for SavingsA+5.0 ★Texas Ratio: 0.22% at 5.50%, Florence BankFlorence BankA+5.0 ★Texas Ratio: 2.70% at 5.62%, and Commonwealth Co-operative BankCommonwealth Co-operative BankA+5.0 ★Texas Ratio: 2.29% at 5.99%. Refinance rates as of September 16, 2026 according to verified data from MonitorBankRates.
Wilmington homeowners can compare 315 refinance rates from 67 lenders serving the Massachusetts area, including 2 local, with rates as low as 5.50% from Align Credit Union at 211G Lowell St, Wilmington, MA, 01887. Lenders below quote one rate for purchase and refinance loans. Use the tabs to compare all loan types and terms, then run the break-even calculator further down. Rates are continually updated, so we recommend checking back frequently.
Refinance rates reflect actual verified offers from lenders actively lending to Massachusetts homeowners. Your final approved rate will depend on your credit profile, loan-to-value ratio, cash-out amount, and daily market movements. Last Updated and Verified: September 16, 2026
Compare Refinance Rates Today in Wilmington, Massachusetts & the Surrounding Area
Rates shown are each lender’s posted rate for that loan type, which most lenders apply to purchase and refinance loans alike. Local Wilmington, MA lenders are listed first in every tab. Among lenders that post both, refinance pricing currently runs about 0.091 points above the same lender’s purchase rate nationally. That premium is shown for context only; every rate in the table is the lender’s posted rate.
Wilmington 30 Year Fixed Refinance Rates
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Rates listed include 0.125% autopay and paperless discount. Rates are for conforming purchase loans, are effective as of 09/11/2026 3:50 PM CT and subject to change at anytime. Rates include a 0.125 percentage point reduction which requires a Citizens consumer checking account set up at time of loan origination with automatic monthly payment deduction. One offer per property. Not applicable to Bond or CRA loans. Other restrictions may apply.
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Minimum loan amount is $100,000. Payments do not include property taxes or insurance. Your payment may be greater if the loan is secured by a first lien. Property insurance is required. Flood insurance may be required. All rates are subject to change without notice. Other restrictions may apply.
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Minimum Down Payment: 5%
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Minimum Credit Score: 720
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Up to 89% financing with no mortgage insurance required.
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Max. Loan Amount: See note 1
11% Down1; Years 1-30; Special Offer
Minimum Credit Score: 720
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Term: 30-Year Fixed Rate With No LLPA's
Points are $3,240. Rates, terms, and fees as of 9/10/2026 10:15 AM Eastern Daylight Time and subject to change without notice.
1-4 Family Owner Occupied Only
Minimum Credit Score: 720
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CAPS: N/A
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Rates Effective August 4, 2026.
Minimum Credit Score: 720
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Rates are effective September 10, 2026 and are subject to change at any time. Rates apply to Conforming mortgages and must meet secondary market guidelines. Conforming Purchase loan sizes up to $806,500.00 on one-unit properties. Conforming rates and APR based on $806,500.00 Purchase loan amount with FICO credit scores of 740 and loan to value no greater than 75%. Jumbo rates and APR based on a $806,500.01 Purchase loan amount with FICO credit scores of 760 and loan to value no greater than 75%. Sample Rates are shown. Rates are based on certain factors including loan amount, creditworthiness, loan-to-value (LTV), loan purpose, etc., and your rate may be higher. Additional loan programs are available.
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Wilmington 15 Year Fixed Refinance Rates
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Rates listed include 0.125% autopay and paperless discount. Rates are for conforming refinance loans, are effective as of 09/11/2026 3:50 PM CT and subject to change at anytime. Rates include a 0.125 percentage point reduction which requires a Citizens consumer checking account set up at time of loan origination with automatic monthly payment deduction. One offer per property. Not applicable to Bond or CRA loans. Other restrictions may apply.
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Add .25% for loans less than $100,000. Minimum loan amount is $100,000. Payments do not include property taxes or insurance. Your payment may be greater if the loan is secured by a first lien. Property insurance is required. Flood insurance may be required. All rates are subject to change without notice. Other restrictions may apply.
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Rates are effective September 10, 2026 and are subject to change at any time. Rates apply to Conforming mortgages and must meet secondary market guidelines. Conforming Purchase loan sizes up to $806,500.00 on one-unit properties. Conforming rates and APR based on $806,500.00 Purchase loan amount with FICO credit scores of 740 and loan to value no greater than 75%. Jumbo rates and APR based on a $806,500.01 Purchase loan amount with FICO credit scores of 760 and loan to value no greater than 75%. Sample Rates are shown. Rates are based on certain factors including loan amount, creditworthiness, loan-to-value (LTV), loan purpose, etc., and your rate may be higher. Additional loan programs are available.
Minimum Credit Score: 720
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Minimum Credit Score: 720
Max. Loan Amount: See note 1
Minimum Credit Score: 720
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Minimum Down Payment: 5%
Get peace of mind with predictable monthly payments. Both traditional and short-term options available.
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Rates and APRs effective August 3, 2026 and are subject to change without notice. Rates, APR, payments, and fees are based on 25% down payment and excellent credit history. Your actual interest rate, APR, payment, and fees may be different than what is displayed here and will be based on several factors, including but not limited to: your credit history, property type, and transaction type. All mortgages and home equity loans require property insurance.
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Rates Effective August 4, 2026.
As low as
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Payment: 2,025.26*
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Points are $2,800. Rates, terms, and fees as of 9/10/2026 10:15 AM Eastern Daylight Time and subject to change without notice.
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Payment is based on a $240,000 loan at 80% loan-to-value, purchase of a single-family residence. The posted rates are subject to change without notice. The posted mortgage rates are based upon a variety of assumptions and conditions, which include a consumer credit score that may be higher or lower than your individual score. Your loan's interest rate will depend upon the specific characteristics of your loan transaction and your credit history.
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Wilmington 5/1 ARM Refinance Rates
Rate Caps: 2%/2%/5%; Fully Indexed Rate: 6.650%; Range of Monthly Payments per $10,000: Year 1-5 $56.78<br/>Year 6 $54.10-$68.30<br/>Year 7 $54.10-$80.50<br/>Year 8- 30 $54.10-$86.70
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with closing costs
See all adjustable Rate mortgages
Enjoy a low initial rate that adjusts with the market. Various terms and options available.
Purchase transaction, 80% LTV, 740 credit score, and a loan amount of $200,000. Initial rate fixed for 5 years and then adjusts every six months thereafter by adding 3.64% to the index (the 1year SOFR). This rate is a discounted rate and will increase in the future. Payment per thousand of $5.84. In year six it would adjust to 6.75% and remain at 6.375% for the remainder of the loan if nothing changes. A rate 6.375% of has a payment per thousand of $6.24. These payments do not include property taxes or homeowners insurance so your payment will be higher. Membership required, open and maintain a membership account with a minimum deposit of $5.00. Lending within a limited area; consult your Loan Officer to confirm whether your loan meets membership requirements. Tremont Credit Union acts as a loan broker in some cases. Tremont Credit Union may or may not be the lender of record or loan servicer for a loan.
Future interest rates and payments are estimates based on the current index plus the margin (fully indexed rate) as of the effective date. Actual future rates and payments may be higher or lower. The interest rate is fixed for the first five years. After the initial fixed-rate period, the interest rate and monthly payment may change annually based on an index plus a margin, subject to applicable rate caps. Interest rate and APR are based on a 30-year term, $100,000 loan amount, 15 days prepaid interest, 20% down payment/equity, and owner-occupied 1-4 family property. Owner-occupied 1-4 family properties with loan-to-value ratios over 80% require private mortgage insurance. No cash-out refinances over 80% loan-to-value are available for this product. Payments include principal and interest only. Taxes, homeowners insurance, flood insurance, private mortgage insurance (if applicable), and escrow amounts are not included. Actual monthly payment may be higher.
Future interest rates and payments are estimates based on the current index plus the margin (fully indexed rate) as of the effective date. Actual future rates and payments may be higher or lower. The interest rate is fixed for the first five years. After the initial fixed-rate period, the interest rate and monthly payment may change every five years based on an index plus a margin, subject to applicable rate caps. Interest rate and APR are based on a 30-year term, $100,000 loan amount, 15 days prepaid interest, owner-occupied property, and financing up to 90% of the home's value with no private mortgage insurance required. Purchases and refinances are eligible, including cash-out refinances. Payments include principal and interest only. Taxes, homeowners insurance, flood insurance, private mortgage insurance (if applicable), and escrow amounts are not included. Actual monthly payment may be higher.
Initial Rate Period # of Monthly Payments: 60; Fully Indexed Rate: 6.250%; Fully Indexed Rate # Monthly Payments: 300; Fully Indexed Rate EMP Per $1,000: $6.18; Effective Date: 7/16/2026
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Fully Indexed Rate: 6.375%
NY ONLY - APR* as low as (0 pts.): 6.000%
Rate may adjust every year; Lifetime rate cap of 6.00% above intro rate; Advertised rate is discounted 0.125% for automatic payments from your Trustco Bank deposit account; Rate applies to owner-occupied primary residence loans of $15,000 - $1,000,000, up to 75% Loan to Value.
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no closing costs
ARM index and margin details available upon request. Consult with a loan officer for details on rate caps and floors.
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Initial/Annual/Lifetime Rate Caps: 2% / 2% / 5%; Margin/index: 2.75% / 4.15%
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Months 1 - 60
Rate: 60 [email protected]%; 12 [email protected]%; 287 [email protected]%; 1 [email protected]%. Monthly Payments Per $1,000 (Fully Indexed): 60@$5.60; 12@$6.45; 287@$6.45; 1@$6.45.
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Months 1 to 60; Margin: 2.875%; Index: 4.05%
Fully Indexed Rate: 7.000%
Rate: 7.000% / 7.000%
Fully Indexed Rate: 7.000%
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Rates Effective August 4, 2026.
Rate as low as; Payment: 1,343.93 *
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Initial Interest Rate Period: 5 Years
Rate stated as: 5.625% for 60 months, 7.625% for 300 months*
ARM terms available. Your interest rate under this ARM can change after 60 months and every 12 months thereafter. Your interest rate cannot increase or decrease more than 5 percentage points at first adjustment and 2 percentage points per subsequent adjustment from the initial interest rate excluding any buydown. Your interest rate will never be greater than 5 percentage points above the initial interest rate or lower than 2.75%.
Initial Interest Rate: 5.500%. Fully Indexed Rate: 6.985%. Maximum Interest Rate: 10.500%. Months to First Rate Adjustment: 60 Months. Interest Only Term: 0 Months. Payment is based on a $240,000 loan at 80% loan-to-value, purchase of a single-family residence. The posted rates are subject to change without notice. The posted mortgage rates are based upon a variety of assumptions and conditions, which include a consumer credit score that may be higher or lower than your individual score. Your loan's interest rate will depend upon the specific characteristics of your loan transaction and your credit history.
caps 2/2/6 repayment schedule based on 30 years
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Initial/Annual/Life Rate Change Caps: 2%/2%/6%; Margin/Index: 2.875%
Initial/Annual/Life Rate Change Caps: 2%/2%/6%; Margin/Index: 2.875%
Caps: 1/1/5; Fully Indexed Rate: 7.125%
Caps: 2/6; Margin: 2.75%; Yrs 1-5; Offer applies to new purchase or refinance loan customers only and excludes existing loan accounts.
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Initial/Annual/Life Rate Change Caps: 2%/2%/6%; Margin/Index: 2.875%
Initial/Annual/Life Rate Change Caps: 2%/2%/6%; Margin/Index: 2.875%
Index: 1 YR Treasury; Cap: 2/6; Margin: +2.75%
Wilmington 30-Year Jumbo Refinance Rates
ARM Index / Margin / Cap Tables
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Rates Subject to change at any time. Posted APRs and rates are SCUCU base rates. Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
$832,751 to $2,000,000; Fully Indexed Rate: 6.375%
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Rates Subject to change at any time. Posted APRs and rates are SCUCU base rates. Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
Term: 10/1 Years (30 Years); Rates Subject to change at any time. Posted APRs and rates are SCUCU base rates. Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
Minimum loan amount is $100,000. Payments do not include property taxes or insurance. Your payment may be greater if the loan is secured by a first lien. Property insurance is required. Flood insurance may be required. All rates are subject to change without notice. Other restrictions may apply.
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Rate as low as; **Rate as low as 6.250%
Max. Loan Amount: See note 2
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caps 2/2/6 repayment schedule based on 30 years
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Index 1 YR Treasury + 2.75% Margin
Payments per thousand do not include taxes and insurance. Your actual monthly payment will be higher.
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Caps 2/6 - Margin 2.875; Year 1-7, rate 5.750%, 84 payments of $5.84; Year 8-30, rate 7.000%, 276 payments of $6.51
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$832,751 to $2,000,000; Fully Indexed Rate: 6.375%
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Finance higher-priced homes without a large down payment or multiple mortgages.
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Caps 5/2/6 - Margin 2.875; Year 1-10, rate 6.125%, 120 payments of $6.08; Year 11-30, rate 7.000%, 240 payments of $6.51
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Term: JUMBO 30-Year Fixed Rate
Payment is based on a $726,300 loan at 80% loan-to-value, purchase of a single-family residence. The posted rates are subject to change without notice. The posted mortgage rates are based upon a variety of assumptions and conditions, which include a consumer credit score that may be higher or lower than your individual score. Your loan's interest rate will depend upon the specific characteristics of your loan transaction and your credit history.
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Index: 1 YR Treasury; Cap: 2/6; Margin: + 3.000%
Index: 1 YR Treasury; Cap: 2/6; Margin: +3.000%
Jumbo Non-Conforming; Index 1 YR Treasury + 2.75% Margin
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Index: 1 YR Treasury; Cap: 2/6; Margin: + 3.000%
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Index: 1 YR Treasury; Cap: 2/6; Margin: + 3.000%
Term: JUMBO 30-Year Fixed Rate With No LLPA's
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caps 2/2/6 repayment schedule based on 30 years
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Index: 1 YR Treasury; Cap: 2/6; Margin: +3.000%
Caps: 1/4; Margin: 3.50%; Yrs 1-10
Interest Rate*
Wilmington 15-Year Jumbo Refinance Rates
Minimum loan amount is $100,000. Payments do not include property taxes or insurance. Your payment may be greater if the loan is secured by a first lien. Property insurance is required. Flood insurance may be required. All rates are subject to change without notice. Other restrictions may apply.
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Wilmington 5/1 Jumbo ARM Refinance Rates
Rates Subject to change at any time. Posted APRs and rates are SCUCU base rates. Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
Up to $2,000,000; Fully Indexed Rate: 6.375%
Rates Subject to change at any time. Posted APRs and rates are SCUCU base rates. Rates are determined by loan amount, creditworthiness, loan-to value (LTV), loan term, occupancy status, property type, loan purpose, and lien position, so your rate could be higher. Advertised rates are based on a set of loan assumptions; 0 discounted points or fees, Purchase owner occupied primary properties, single family residence; warrantable condominiums; 2-4 unit properties; credit score 720 or higher; Loan-to-value 80% or below. Your actual rate, fees, payment, terms and costs could vary based on when your rate is locked, and according to the property and loan characteristics.
caps caps 2/2/6 repayment schedule based on 30 years
Caps 2/6 - Margin 2.75; Year 1-5, rate 5.625%, 60 payments of $5.76; Year 6-30, rate 6.875%, 300 payments of $6.47
Index: 1 YR Treasury; Cap: 2/6; Margin: +3.00%
Index: 1 YR Treasury; Cap: 2/6; Margin: +3.000%
caps caps 2/2/6 repayment schedule based on 30 years
Index: 1 YR Treasury; Cap: 2/6; Margin: +3.000%
Index: 1 YR Treasury; Cap: 2/6; Margin: +3.000%
Caps: 2/6; Margin: 3.50%; Yrs 1-5
Wilmington FHA Loan Rates
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Important Assumptions
Wilmington VA Loan Rates
3 year/1 year variable rate
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Points are $3,240. Rates, terms, and fees as of 9/10/2026 10:15 AM Eastern Daylight Time and subject to change without notice.
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Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
National Refinance Rate Averages
Daily averages of posted rates across every lender we track, as of September 12, 2026. Use these as the benchmark for the Wilmington, Massachusetts quotes above; lenders that price refinances separately currently run about 0.091 points higher.
Wilmington, MA Refinance Rate Trends
Compare local Wilmington, MA refinance quotes against the statewide average
Daily averages of posted first-mortgage rates across our lender network, updated every evening. Because most lenders price purchase and refinance loans identically, this is the benchmark a Massachusetts refinance quote should be measured against, plus roughly 0.091 points at lenders that price refinances separately.
Massachusetts 30-year fixed rates rose 0.078 points over the past 7 days to 6.688%.
Massachusetts 15-year fixed rates rose 0.041 points over the past 7 days to 6.305%.
What Wilmington, MA Homeowners Actually Pay to Refinance
Posted refinance rates from our lender network alongside the rates borrowers closed at, from federal HMDA filings
Two different measures. The refinance premium is computed nightly from lenders that publish separate purchase and refinance pricing. HMDA figures are median note rates on loans that actually closed.
Massachusetts Refinance Rate Forecast, Next 12 Months
Where are Massachusetts refinance rates headed through September 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. If the forecast shows rates falling, waiting may beat refinancing today; the break-even calculator below shows what each scenario is worth. Not financial advice.
What Forecast Rates Mean for Wilmington, MA Homeowners Refinancing
Monthly principal & interest on a 30-year refinance of the loan of $544,400 (80% of the city median home value). Payment differences show what waiting for the forecast rate would be worth each month.
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (MA avg) | 6.688% | $3,509 | — | 25% |
| 6-Month Forecast | 6.688% (6.34–6.99%) | $3,509 | +$0/mo | 25% |
| 12-Month Forecast | 6.938% (6.59–7.24%) | $3,599 | +$91/mo | 25.7% |
Income column = annual mortgage payment as % of Wilmington, MA median household income ($168,152). Above 30% is generally considered cost-burdened.
Wilmington, Massachusetts Refinance Break-Even Calculator
Enter your current loan and the refinance rate you have been quoted. The calculator shows the new payment, monthly savings, and how many months it takes for those savings to pay back the closing costs. Click a current Wilmington, Massachusetts rate on the right to test it instantly.
Principal and interest only. Excludes escrow, mortgage insurance, and any prepayment penalty on the current loan. Lifetime interest compares the remaining interest on the current loan to total interest on the new loan. Estimates are for informational purposes only.
Run the Numbers on Your Wilmington, Massachusetts Refinance
The rate is only part of the decision. Use these calculators to turn current Wilmington, Massachusetts refinance rates into monthly savings, break-even months, and total interest before you talk to a lender.
If you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point, the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateEnter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateIf your goal is cash rather than a lower rate, compare current Wilmington, Massachusetts home equity loan and HELOC rates against a cash-out refinance. Keeping a low existing first mortgage and adding a second lien is often the cheaper path, especially for loans originated between 2020 and 2022.
CompareTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current Wilmington, Massachusetts rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateTypes of Refinance Loans Available in Wilmington, Massachusetts
Homeowners in Wilmington, Massachusetts can choose from several refinance programs. The right one depends on what you are trying to do: lower the rate, shorten the term, pull cash out, or drop mortgage insurance. Pricing, appraisal requirements, and eligibility differ across each, and the cheapest program is not always the lowest posted rate once fees are counted.
Rate-and-Term Refinance
The standard refinance. You replace your existing mortgage with a new loan for about the same balance, changing only the rate, the term, or both. It is the lowest-priced refinance product at nearly every Massachusetts lender because the loan-to-value ratio does not rise.
Best for homeowners whose rate is at least half a point above today’s Wilmington, Massachusetts average and who plan to stay past the break-even point. Choosing a term that matches your remaining years, rather than resetting to 30, keeps the payoff date where it is.
Cash-Out Refinance
A cash-out refinance replaces your mortgage with a larger one and hands you the difference at closing. Conventional lenders cap the new loan at 80% of appraised value; VA cash-out loans go to 90%. Rates run above rate-and-term pricing.
If you hold a low rate from 2020 to 2022, a home equity loan or HELOC in Wilmington, Massachusetts usually costs less than refinancing the whole balance at today’s rate to pull out cash.
FHA Streamline Refinance
For homeowners already in an FHA loan. No appraisal, no income verification, and limited credit review, as long as the new loan produces a net tangible benefit (generally a rate at least 0.5% lower, or a move from an ARM to a fixed rate). You need 210 days since the first payment and six on-time payments.
The upfront mortgage insurance premium is reduced to 0.01% and annual MIP continues, so FHA borrowers with 20% equity and good credit should also price a conventional rate-and-term refinance, which drops mortgage insurance entirely.
VA IRRRL (Streamline Refinance)
The Interest Rate Reduction Refinance Loan lets veterans refinance an existing VA loan with no appraisal, no income documentation, and a funding fee of just 0.5% (waived for borrowers with a service-connected disability). Closing costs can be rolled into the loan.
The new rate must be lower than the current one unless you are moving from an ARM to a fixed rate, and you must recoup closing costs within 36 months. VA lenders in Massachusetts quote IRRRL pricing separately, so ask for it by name.
USDA Streamlined-Assist Refinance
For homeowners with an existing USDA Rural Development loan. No appraisal or credit review in most cases, and the new payment must be at least $50 a month lower than the current one. The property no longer has to meet the rural eligibility map.
Twelve months of on-time payments are required, and the 1% upfront guarantee fee plus the annual fee apply to the new loan.
Jumbo Refinance
The 2026 FHFA conforming loan limit for Wilmington, Massachusetts is $832,750. A refinance above that amount is a jumbo loan and stays on the lender’s books or goes to private investors, so pricing and underwriting are set lender by lender.
Jumbo refinances usually require a 700 or higher credit score, reserves of six to twelve months of payments, and a loan-to-value of 80% or less. Because balances are large, even a quarter-point rate difference is worth thousands a year, so compare the 30-Year Jumbo and 15-Year Jumbo tabs above closely. If paying the balance down to the conforming limit at closing is possible, conforming refinance pricing is often noticeably better.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Wilmington, Massachusetts refinance rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Refinance Rate Data: We aggregate mortgage and refinance rates for Wilmington, Massachusetts directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Where a lender publishes a product specifically for refinancing, that product is listed by name; where a lender publishes one rate sheet for purchase and refinance loans, that rate is shown as the refinance rate, which is how the lender itself quotes it.
Refinance Premium and HMDA Figures: The refinance premium is the average difference between a lender’s refinance-labeled product and the same lender’s standard product of the same term, computed nightly across lenders that publish both. It is shown for context and is never added to any rate in the tables. HMDA figures are median note rates on first-lien, owner-occupied, one-to-four-unit loans originated in the most recent reporting year, from the Consumer Financial Protection Bureau’s public Loan/Application Register.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in Wilmington, Massachusetts. We feature a comprehensive mix of licensed NMLS financial institutions, from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in MA.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage and refinance rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio, ensuring you compare rates from secure, reliable lenders.
How a Mortgage Refinance Works in Wilmington, Massachusetts
A refinance pays off your current mortgage with a new loan on the same Wilmington, Massachusetts home. The new lender wires the payoff to the old lender at closing, and from that point you make payments on the new loan only. Because it is a brand-new mortgage, you go through an application, credit check, and usually an appraisal, and you pay closing costs, just as you did when you bought the home.
How Wilmington, Massachusetts Refinance Rates Compare to Purchase Rates
Most Massachusetts banks and credit unions post one rate sheet that applies to purchase and refinance loans alike, which is why the tables above show the same lenders you will find on our Wilmington, Massachusetts mortgage rates page. For example, Align Credit Union is listing a Fixed Mortgage Rates - 30 Year Fixed at 6.75% for either purpose. Some lenders price refinances separately and list them by name, such as Sharon And Crescent United Credit Union’s Refinance Your Mortgage - On The House - 5/5 ARM at 5.50%. Across lenders that post both, refinance pricing currently runs about 0.091 points above the same lender’s purchase rate nationally. Cash-out refinances, investment properties, and second homes carry pricing add-ons at every lender.
Finding Your Break-Even Point in Wilmington, Massachusetts
Divide total closing costs by the monthly payment savings and you get the number of months until the refinance has paid for itself. A Wilmington, Massachusetts homeowner who expects to sell before that month should not refinance, no matter how good the rate looks. The calculator above runs this math with today’s local rates. A shorter break-even, under three years, is a comfortable margin; anything past five years needs a long stay to pay off.
Refinance Closing Costs and No-Closing-Cost Loans in Wilmington, Massachusetts
Refinance closing costs in Massachusetts typically run two to five percent of the loan and include the lender’s origination fee, appraisal, title search and lender’s title policy, recording fees, and prepaid interest. Discount points are optional and buy the rate down. A no-closing-cost refinance rolls the fees into a higher rate or the loan balance. It is not free, but it can be the better choice for a homeowner likely to move or refinance again within a few years, because there is nothing to recoup.
When Wilmington, Massachusetts Homeowners Should Wait
Refinancing rarely pays when the new rate is less than half a point below the current one, when you are more than ten years into a 30-year loan and would reset the clock, or when your credit score has dropped since the original loan. Homeowners holding a rate from 2020 to 2022 are usually better served by keeping that loan and using a home equity loan or HELOC for cash needs. Our Massachusetts refinance rate trends above show where rates have been over the past 90 days, and the forecast gives a sense of where they may head, so you can decide whether to lock now or wait.
Frequently Asked Questions about Refinance Rates in Wilmington, Massachusetts
Are refinance rates higher than purchase mortgage rates in Massachusetts?
When does refinancing make sense in Wilmington, Massachusetts?
How soon can I refinance a mortgage in Massachusetts?
What is a rate-and-term refinance?
What is a cash-out refinance?
Does refinancing reset my 30-year term?
What are typical refinance closing costs in Massachusetts?
What is the difference between interest rate and APR on a refinance?
Should I lock my refinance rate?
How do I find the best refinance lender in Wilmington, Massachusetts?
What are the best refinance rates in Wilmington, Massachusetts?
- Align Credit Union: 6.75% (Fixed Mortgage Rates - 30 Year Fixed)
- Citizens Bank: 7.25% (30-Year Fixed Rate)
- Institution for Savings: 5.50% (First-Time/Affordable Homebuyer Loan - 30 Year Fixed)
- Florence Bank: 5.62% (Welcome Home - 30-Year Fixed Rate)
- Commonwealth Co-operative Bank: 5.99% (Mortgage Rates - 30 Year Fixed)
Wilmington, Massachusetts Rates & Resources
