Compare mortgage rates and closing costs for leading lenders in Connecticut. Review free, personalized mortgage rates for Connecticut based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Connecticut. Plus, shopping lenders is free and there is no obligation.
July 12, 2020
The current average rate for a 30 year fixed rate mortgage in Connecticut 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 offer valuable insights on the housing market and real estate prices in Connecticut. Understand how much you need to make to buy a house in Connecticut, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Connecticut is affordable for you. We provide this helpful information to help you decide if living in Connecticut is right for you.
The median home value for Connecticut is $309,523
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Connecticut is $55,706
With this income, you could qualify for a $278,571 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 Connecticut is $1,290
The median household income for Connecticut is $79,124
Based on this income, you can afford a home valued at approximately $439,641
The home price you can afford to buy based on household income in Connecticut is 142% of the median home value which means housing prices are average. Connecticut ranks 30 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Connecticut is average