Compare mortgage rates and fees for leading lenders in Cumming, GA. 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 Cumming.
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October 23, 2019
The current average rate for a 30 year fixed rate mortgage in Cumming 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 Cumming, GA (Forsyth County) is $376,761
The median household income for Cumming, GA (Forsyth County) is $99,393
Based on current mortgage rates and a 10% down payment, you need to make $69,901 per year to buy the median priced home in Cumming
The home price you can afford to buy based on household income in Cumming is 142% of the median home value which means housing prices are average
Cumming (Forsyth County) ranks 148 out of 159 counties in Georgia and 2,644 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Cumming, GA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Cumming (Forsyth County) below.
Conforming loan limits for Cumming, GA
FHA loan limits for Cumming, GA
VA loan limits for Cumming, GA
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