Compare mortgage rates and fees for leading lenders in Bronx, 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 Bronx.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Bronx. Plus, shopping lenders is free and there is no obligation.
April 3, 2020
The current average rate for a 30 year fixed rate mortgage in Bronx 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 Bronx. Understand how much you need to earn to afford a home in Bronx, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Bronx 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 Bronx is right for you.
The median home value for Bronx, NY is $448,014
Based on current mortgage rates and a 10% down payment, you need to make $80,631 per year to buy the median priced home in Bronx
With this income, you could qualify for a $403,212 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 Bronx is $1,867
The median household income for Bronx, NY is $38,592
Based on this income, you can afford a home valued at approximately $214,434
The home price you can afford to buy based on household income in Bronx is 48% of the median home value which means housing prices are very expensive. Bronx ranks 60 out of 62 counties in New York and 3,139 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Bronx, NY is very expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Bronx below.
Conforming loan limits for Bronx, NY
FHA loan limits for Bronx, NY
VA loan limits for Bronx, NY