Compare mortgage rates and fees for leading lenders in Cabot, 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 Cabot.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Cabot. Plus, shopping lenders is free and there is no obligation.
September 23, 2020
The current average rate for a 30 year fixed rate mortgage in Cabot 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 Cabot. Understand how much you need to earn to afford a home in Cabot, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Cabot 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 Cabot is right for you.
The median home value for Cabot, AR (Lonoke County) is $158,288
Based on current mortgage rates and a 10% down payment, you need to make $28,488 per year to buy the median priced home in Cabot
With this income, you could qualify for a $142,459 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 Cabot is $660
The median household income for Cabot, AR (Lonoke County) is $60,420
Based on this income, you can afford a home valued at approximately $335,717
The home price you can afford to buy based on household income in Cabot is 212% of the median home value which means housing prices are affordable. Cabot (Lonoke County) ranks 43 out of 75 counties in Arkansas and 1,329 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Cabot, AR is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Cabot (Lonoke County) below.
Conforming loan limits for Cabot, AR
FHA loan limits for Cabot, AR
VA loan limits for Cabot, AR