Compare Boone, KY 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 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.
November 29, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Boone. Understand how much you need to earn to afford a home in Boone, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Boone 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 Boone is right for you.
The median home value for Boone, KY is $256,641
Based on current mortgage rates and a 10% down payment, you need to make $53,539 per year to buy the median priced home in Boone
With this income, you could qualify for a $230,977 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 Boone is $1,240
The median household income for Boone, KY is $85,102
Based on this income, you can afford a home valued at approximately $407,934
The home price you can afford to buy based on household income in Boone is 159% of the median home value which means housing prices are average. Boone ranks 87 out of 120 counties in Kentucky and 1,653 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