Compare mortgage rates and fees for leading lenders in Merrimack, NH. 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 Merrimack.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Merrimack. Plus, shopping lenders is free and there is no obligation.
April 6, 2020
The current average rate for a 30 year fixed rate mortgage in Merrimack 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Merrimack. Understand how much you need to earn to afford a home in Merrimack, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Merrimack 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 Merrimack is right for you.
The median home value for Merrimack, NH is $266,275
Based on current mortgage rates and a 10% down payment, you need to make $47,923 per year to buy the median priced home in Merrimack
With this income, you could qualify for a $239,647 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 Merrimack is $1,110
The median household income for Merrimack, NH is $73,673
Based on this income, you can afford a home valued at approximately $409,354
The home price you can afford to buy based on household income in Merrimack is 154% of the median home value which means housing prices are average. Merrimack ranks 3 out of 10 counties in New Hampshire and 2,471 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Merrimack, NH is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Merrimack below.
Conforming loan limits for Merrimack, NH
FHA loan limits for Merrimack, NH
VA loan limits for Merrimack, NH