Compare mortgage rates and fees for leading lenders in Binghamton, NY. 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 Binghamton.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Binghamton. Plus, shopping lenders is free and there is no obligation.
August 13, 2020
The current average rate for a 30 year fixed rate mortgage in Binghamton 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 Binghamton. Understand how much you need to earn to afford a home in Binghamton, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Binghamton 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 Binghamton is right for you.
The median home value for Binghamton, NY (Broome County) is $129,143
Based on current mortgage rates and a 10% down payment, you need to make $23,242 per year to buy the median priced home in Binghamton
With this income, you could qualify for a $116,229 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 Binghamton is $538
The median household income for Binghamton, NY (Broome County) is $51,745
Based on this income, you can afford a home valued at approximately $287,513
The home price you can afford to buy based on household income in Binghamton is 223% of the median home value which means housing prices are affordable. Binghamton (Broome County) ranks 20 out of 62 counties in New York and 1,126 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Binghamton, NY is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Binghamton (Broome County) below.
Conforming loan limits for Binghamton, NY
FHA loan limits for Binghamton, NY
VA loan limits for Binghamton, NY