Compare mortgage rates and fees for leading lenders in Hutchinson, KS. 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 Hutchinson.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Hutchinson. Plus, shopping lenders is free and there is no obligation.
December 11, 2019
The current average rate for a 30 year fixed rate mortgage in Hutchinson 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 Hutchinson, KS (Reno County) is $99,981
The median household income for Hutchinson, KS (Reno County) is $49,361
Based on current mortgage rates and a 10% down payment, you need to make $18,550 per year to buy the median priced home in Hutchinson
The home price you can afford to buy based on household income in Hutchinson is 266% of the median home value which means housing prices are affordable
Hutchinson (Reno County) ranks 74 out of 105 counties in Kansas and 561 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Hutchinson, KS is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Hutchinson (Reno County) below.
Conforming loan limits for Hutchinson, KS
FHA loan limits for Hutchinson, KS
VA loan limits for Hutchinson, KS
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