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Litchfield

Current Mortgage Rates in Litchfield, Connecticut

Compare mortgage rates and fees for leading lenders in Litchfield, CT. 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 Litchfield.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Litchfield. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Litchfield, CT as of January 21, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Litchfield, CT Mortgage Rates Compare?

January 21, 2020

The current average rate for a 30 year fixed rate mortgage in Litchfield 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%

Mortgage Program
Today's
Litchfield, CT Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Litchfield, Connecticut?

Below we provide helpful information on the real estate market, home prices and housing affordability in Litchfield. Understand how much you need to earn to afford a home in Litchfield, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Litchfield 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 Litchfield is right for you.

The median home value for Litchfield, CT is $277,076

Based on current mortgage rates and a 10% down payment, you need to make $49,867 per year to buy the median priced home in Litchfield

With this income, you could qualify for a $249,369 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 Litchfield is $1,155

The median household income for Litchfield, CT is $80,615

Based on this income, you can afford a home valued at approximately $447,924

The home price you can afford to buy based on household income in Litchfield is 162% of the median home value which means housing prices are average. Litchfield ranks 5 out of 8 counties in Connecticut and 2,321 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Litchfield, CT is average

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Loan Limits for Litchfield, Connecticut

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Litchfield below.

Conforming loan limits for Litchfield, CT

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Litchfield, CT

1 unit: $357,650
2 units: $457,850
3 units: $553,450
4 units: $687,800

VA loan limits for Litchfield, CT

1 unit: $510,400

Additional Mortgage Resources for Litchfield, CT Residents

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