Compare McDonough, 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 McDonough.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in McDonough. Plus, shopping lenders is free and there is no obligation.
May 23, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in McDonough. Understand how much you need to earn to afford a home in McDonough, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in McDonough 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 McDonough is right for you.
The median home value for McDonough, GA (Henry County) is $238,139
Based on current mortgage rates and a 10% down payment, you need to make $39,018 per year to buy the median priced home in McDonough
With this income, you could qualify for a $214,325 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 McDonough is $904
The median household income for McDonough, GA (Henry County) is $77,757
Based on this income, you can afford a home valued at approximately $474,573
The home price you can afford to buy based on household income in McDonough is 199% of the median home value which means housing prices are average. McDonough (Henry County) ranks 83 out of 159 counties in Georgia and 1,742 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in McDonough, GA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for McDonough (Henry County) below.
Conforming loan limits for McDonough, GA
FHA loan limits for McDonough, GA
VA loan limits for McDonough, GA