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.
August 22, 2019
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%
The median home value for Benton, AR (Saline County) is $162,421
The median household income for Benton, AR (Saline County) is $60,788
Based on current mortgage rates and a 10% down payment, you need to make $30,134 per year to buy the median priced home in Benton
The home price you can afford to by based on household income in Benton is 202% of the median home value which means housing prices are affordable
Benton (Saline County) ranks 54 out of 75 counties in Arkansas and 1,558 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
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index