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Compare Current New Haven, Connecticut Mortgage Rates
Compare New Haven, CT 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 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.
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Compare Today's New Haven, CT Mortgage Rates
May 28, 2023
Current mortgage rates in New Haven, CT are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)
Mortgage Program
Today's New Haven, CT Rates
National Average
Comparison
30 Year Fixed Rate
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6.390%
15 Year Fixed Rate
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5.750%
5/1 Adjustable Rate Mortgage
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6.000%
How Affordable is Housing in New Haven, Connecticut?
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 $312,395
Based on current mortgage rates and a 10% down payment, you need to make $65,171 per year to buy the median priced home in New Haven
With this income, you could qualify for a $281,156 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 $1,509
The median household income for New Haven, CT is $76,394
Based on this income, you can afford a home valued at approximately $366,196
The home price you can afford to buy based on household income in New Haven is 117% of the median home value which means housing prices are average.
New Haven ranks 7 out of 8 counties in Connecticut and 2,551 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
Loan Limits for New Haven, Connecticut
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
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for New Haven, CT
1 unit:$472,030
2 units:$604,400
3 units:$730,525
4 units:$907,900
VA loan limits for New Haven, CT
1 unit:$726,200
Additional Mortgage Resources for New Haven, CT Residents