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Compare Current Forest Park, Georgia Mortgage Rates
Compare Forest Park, GA 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 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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Forest Park, GA Mortgage Rates as of December 7, 2023
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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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
Data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Forest Park, GA Mortgage Rates
December 7, 2023
Current mortgage rates in Forest Park, GA 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 Forest Park, GA Rates
National Average
Comparison
30 Year Fixed Rate
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7.220%
15 Year Fixed Rate
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6.560%
5/1 Adjustable Rate Mortgage
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6.625%
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 $200,912
Based on current mortgage rates and a 10% down payment, you need to make $41,913 per year to buy the median priced home in Forest Park
With this income, you could qualify for a $180,821 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 $971
The median household income for Forest Park, GA (Clayton County) is $51,981
Based on this income, you can afford a home valued at approximately $249,171
The home price you can afford to buy based on household income in Forest Park is 124% of the median home value which means housing prices are average.
Forest Park (Clayton County) ranks 130 out of 159 counties in Georgia and 2,444 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 average
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:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Forest Park, GA
1 unit:$592,250
2 units:$758,200
3 units:$916,450
4 units:$1,138,950
VA loan limits for Forest Park, GA
1 unit:$726,200
Additional Mortgage Resources for Forest Park, GA Residents