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Putnam

Current Mortgage Rates in Putnam, New York

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

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

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Mortgage Rates in Putnam, NY as of January 23, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Putnam, NY Mortgage Rates Compare?

January 23, 2020

The current average rate for a 30 year fixed rate mortgage in Putnam 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
Today's
Putnam, NY Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Putnam, New York?

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

The median home value for Putnam, NY is $407,910

Based on current mortgage rates and a 10% down payment, you need to make $73,413 per year to buy the median priced home in Putnam

With this income, you could qualify for a $367,119 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 Putnam is $1,700

The median household income for Putnam, NY is $105,051

Based on this income, you can afford a home valued at approximately $583,699

The home price you can afford to buy based on household income in Putnam is 143% of the median home value which means housing prices are average. Putnam ranks 49 out of 62 counties in New York and 2,621 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Putnam, New York

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Putnam below.

Conforming loan limits for Putnam, NY

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

FHA loan limits for Putnam, NY

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

VA loan limits for Putnam, NY

1 unit: $765,600

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