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.
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October 23, 2019
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%
The median home value for Ithaca, NY (Tompkins County) is $209,406
The median household income for Ithaca, NY (Tompkins County) is $57,918
Based on current mortgage rates and a 10% down payment, you need to make $38,851 per year to buy the median priced home in Ithaca
The home price you can afford to buy based on household income in Ithaca is 149% of the median home value which means housing prices are average
Ithaca (Tompkins County) ranks 47 out of 62 counties in New York and 2,558 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
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
FHA loan limits for Ithaca, NY
VA loan limits for Ithaca, NY
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