Compare Saratoga, NY mortgage rates and fees from top lenders. 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 lowest mortgage rates in Saratoga.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Saratoga. Plus, shopping lenders is free and there is no obligation.
December 1, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Saratoga. Understand how much you need to earn to afford a home in Saratoga, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Saratoga 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 Saratoga is right for you.
The median home value for Saratoga, NY is $324,412
Based on current mortgage rates and a 10% down payment, you need to make $67,678 per year to buy the median priced home in Saratoga
With this income, you could qualify for a $291,971 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 Saratoga is $1,567
The median household income for Saratoga, NY is $88,071
Based on this income, you can afford a home valued at approximately $422,169
The home price you can afford to buy based on household income in Saratoga is 130% of the median home value which means housing prices are average. Saratoga ranks 46 out of 62 counties in New York and 2,324 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Saratoga, NY is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Saratoga below.
Conforming loan limits for Saratoga, NY
FHA loan limits for Saratoga, NY
VA loan limits for Saratoga, NY