Compare mortgage rates and fees for leading lenders in New Haven, 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 New Haven.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in New Haven. Plus, shopping lenders is free and there is no obligation.
April 7, 2020
The current average rate for a 30 year fixed rate mortgage in New Haven 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 New Haven. Understand how much you need to earn to afford a home in New Haven, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in New Haven 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 New Haven is right for you.
The median home value for New Haven, CT is $263,003
Based on current mortgage rates and a 10% down payment, you need to make $47,334 per year to buy the median priced home in New Haven
With this income, you could qualify for a $236,703 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 New Haven is $1,096
The median household income for New Haven, CT is $68,417
Based on this income, you can afford a home valued at approximately $380,147
The home price you can afford to buy based on household income in New Haven is 145% of the median home value which means housing prices are average. New Haven ranks 7 out of 8 counties in Connecticut and 2,600 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in New Haven, CT is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for New Haven below.
Conforming loan limits for New Haven, CT
FHA loan limits for New Haven, CT
VA loan limits for New Haven, CT