Compare mortgage rates and fees for leading lenders in Conway, 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 Conway.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Conway. Plus, shopping lenders is free and there is no obligation.
October 19, 2019
The current average rate for a 30 year fixed rate mortgage in Conway 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 Conway, AR (Faulkner County) is $171,312
The median household income for Conway, AR (Faulkner County) is $51,854
Based on current mortgage rates and a 10% down payment, you need to make $31,784 per year to buy the median priced home in Conway
The home price you can afford to buy based on household income in Conway is 163% of the median home value which means housing prices are average
Conway (Faulkner County) ranks 71 out of 75 counties in Arkansas and 2,320 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Conway, AR is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Conway (Faulkner County) below.
Conforming loan limits for Conway, AR
FHA loan limits for Conway, AR
VA loan limits for Conway, 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