Compare mortgage rates and fees for leading lenders in Boone, KY. 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 Boone.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Boone. Plus, shopping lenders is free and there is no obligation.
September 22, 2019
The current average rate for a 30 year fixed rate mortgage in Boone 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 Boone, KY is $202,799
The median household income for Boone, KY is $74,954
Based on current mortgage rates and a 10% down payment, you need to make $37,626 per year to buy the median priced home in Boone
The home price you can afford to buy based on household income in Boone is 199% of the median home value which means housing prices are average
Boone ranks 79 out of 120 counties in Kentucky and 1,604 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Boone, KY is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Boone below.
Conforming loan limits for Boone, KY
FHA loan limits for Boone, KY
VA loan limits for Boone, KY
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