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.
December 11, 2019
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%
The median home value for New Haven, CT is $251,919
The median household income for New Haven, CT is $66,855
Based on current mortgage rates and a 10% down payment, you need to make $46,739 per year to buy the median priced home in New Haven
The home price you can afford to buy based on household income in New Haven is 143% of the median home value which means housing prices are average
New Haven ranks 7 out of 8 counties in Connecticut and 2,631 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
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