Compare mortgage rates and fees for leading lenders in Benton, AR. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Benton.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Benton. Plus, shopping lenders is free and there is no obligation.
September 20, 2020
The current average rate for a 30 year fixed rate mortgage in Benton is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we provide helpful information on the real estate market, home prices and housing affordability in Benton. Understand how much you need to earn to afford a home in Benton, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Benton fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Benton is right for you.
The median home value for Benton, AR (Saline County) is $170,218
Based on current mortgage rates and a 10% down payment, you need to make $30,635 per year to buy the median priced home in Benton
With this income, you could qualify for a $153,196 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Benton is $709
The median household income for Benton, AR (Saline County) is $62,208
Based on this income, you can afford a home valued at approximately $345,650
The home price you can afford to buy based on household income in Benton is 203% of the median home value which means housing prices are affordable. Benton (Saline County) ranks 54 out of 75 counties in Arkansas and 1,508 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Benton, AR is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Benton (Saline County) below.
Conforming loan limits for Benton, AR
FHA loan limits for Benton, AR
VA loan limits for Benton, AR