Compare Cabot, AR mortgage rates and fees from top lenders. 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 lowest 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.
January 19, 2022
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 $185,856
Based on current mortgage rates and a 10% down payment, you need to make $30,452 per year to buy the median priced home in Cabot
With this income, you could qualify for a $167,270 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 $705
The median household income for Cabot, AR (Lonoke County) is $67,589
Based on this income, you can afford a home valued at approximately $412,516
The home price you can afford to buy based on household income in Cabot is 222% of the median home value which means housing prices are affordable. Cabot (Lonoke County) ranks 42 out of 75 counties in Arkansas and 1,294 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