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Utica

Current Mortgage Rates in Utica, New York

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

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

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Mortgage Rates in Utica, 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.
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How Do Today's Utica, NY Mortgage Rates Compare?

September 22, 2020

The current average rate for a 30 year fixed rate mortgage in Utica 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
Utica, 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 Utica, New York?

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

The median home value for Utica, NY (Oneida County) is $139,733

Based on current mortgage rates and a 10% down payment, you need to make $25,148 per year to buy the median priced home in Utica

With this income, you could qualify for a $125,760 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 Utica is $582

The median household income for Utica, NY (Oneida County) is $54,120

Based on this income, you can afford a home valued at approximately $300,710

The home price you can afford to buy based on household income in Utica is 215% of the median home value which means housing prices are affordable. Utica (Oneida County) ranks 24 out of 62 counties in New York and 1,265 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Utica, NY is affordable

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Loan Limits for Utica, New York

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

Conforming loan limits for Utica, NY

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

FHA loan limits for Utica, NY

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

VA loan limits for Utica, NY

1 unit: $510,400

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