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Forest Park

Current Mortgage Rates in Forest Park, Georgia

Compare mortgage rates and fees for leading lenders in Forest Park, 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 Forest Park.

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

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Mortgage Rates in Forest Park, GA as of October 19, 2019
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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.

How Do Today's Forest Park, GA Mortgage Rates Compare?

October 19, 2019

The current average rate for a 30 year fixed rate mortgage in Forest Park 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
Forest Park, GA 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 Forest Park, Georgia?

The median home value for Forest Park, GA (Clayton County) is $111,573

The median household income for Forest Park, GA (Clayton County) is $45,454

Based on current mortgage rates and a 10% down payment, you need to make $20,700 per year to buy the median priced home in Forest Park

The home price you can afford to buy based on household income in Forest Park is 220% of the median home value which means housing prices are affordable

Forest Park (Clayton County) ranks 52 out of 159 counties in Georgia and 1,202 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Forest Park, GA is affordable

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Loan Limits for Forest Park, Georgia

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Forest Park (Clayton County) below.

Conforming loan limits for Forest Park, GA

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Forest Park, GA

1 unit: $379,500
2 units: $485,800
3 units: $587,250
4 units: $729,800

VA loan limits for Forest Park, GA

1 unit: $484,350

Additional Mortgage Resources for Forest Park, GA Residents

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Sources

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