Current Mortgage Rates in Ithaca, New York

Compare mortgage rates and fees for leading lenders in Ithaca, 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 Ithaca.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Ithaca. Plus, shopping lenders is free and there is no obligation.

Mortgage Rates in Ithaca, NY as of September 22, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Ithaca, NY Mortgage Rates Compare?

September 22, 2020

The current average rate for a 30 year fixed rate mortgage in Ithaca 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%

Mortgage Program
Ithaca, NY Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Ithaca, New York?

Below we provide helpful information on the real estate market, home prices and housing affordability in Ithaca. Understand how much you need to earn to afford a home in Ithaca, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Ithaca 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 Ithaca is right for you.

The median home value for Ithaca, NY (Tompkins County) is $219,039

Based on current mortgage rates and a 10% down payment, you need to make $39,421 per year to buy the median priced home in Ithaca

With this income, you could qualify for a $197,135 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 Ithaca is $913

The median household income for Ithaca, NY (Tompkins County) is $59,271

Based on this income, you can afford a home valued at approximately $329,330

The home price you can afford to buy based on household income in Ithaca is 150% of the median home value which means housing prices are average. Ithaca (Tompkins County) ranks 47 out of 62 counties in New York and 2,524 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Ithaca, NY is average


Loan Limits for Ithaca, New York

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Ithaca (Tompkins County) below.

Conforming loan limits for Ithaca, NY

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Ithaca, NY

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Ithaca, NY

1 unit: $510,400

Additional Mortgage Resources for Ithaca, NY Residents

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