Compare mortgage rates and fees for leading lenders in Owensboro, 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 Owensboro.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Owensboro. 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 Owensboro 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 Owensboro, KY (Daviess County) is $142,465
The median household income for Owensboro, KY (Daviess County) is $49,850
Based on current mortgage rates and a 10% down payment, you need to make $26,432 per year to buy the median priced home in Owensboro
The home price you can afford to buy based on household income in Owensboro is 189% of the median home value which means housing prices are average
Owensboro (Daviess County) ranks 90 out of 120 counties in Kentucky and 1,811 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Owensboro, KY is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Owensboro (Daviess County) below.
Conforming loan limits for Owensboro, KY
FHA loan limits for Owensboro, KY
VA loan limits for Owensboro, 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