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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 January 23, 2020
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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.
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How Do Today's Forest Park, GA Mortgage Rates Compare?

January 23, 2020

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%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Forest Park, Georgia?

Below we provide helpful information on the real estate market, home prices and housing affordability in Forest Park. Understand how much you need to earn to afford a home in Forest Park, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Forest Park 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 Forest Park is right for you.

The median home value for Forest Park, GA (Clayton County) is $119,383

Based on current mortgage rates and a 10% down payment, you need to make $21,486 per year to buy the median priced home in Forest Park

With this income, you could qualify for a $107,445 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 Forest Park is $498

The median household income for Forest Park, GA (Clayton County) is $46,516

Based on this income, you can afford a home valued at approximately $258,459

The home price you can afford to buy based on household income in Forest Park is 216% of the median home value which means housing prices are affordable. Forest Park (Clayton County) ranks 52 out of 159 counties in Georgia and 1,234 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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Forest Park, GA

1 unit: $401,350
2 units: $513,800
3 units: $621,050
4 units: $771,850

VA loan limits for Forest Park, GA

1 unit: $510,400

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