Compare mortgage rates and fees for leading lenders in McDonough, 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 McDonough.
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October 21, 2019
The current average rate for a 30 year fixed rate mortgage in McDonough 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 McDonough, GA (Henry County) is $182,829
The median household income for McDonough, GA (Henry County) is $66,732
Based on current mortgage rates and a 10% down payment, you need to make $33,920 per year to buy the median priced home in McDonough
The home price you can afford to buy based on household income in McDonough is 197% of the median home value which means housing prices are average
McDonough (Henry County) ranks 85 out of 159 counties in Georgia and 1,658 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
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