Compare mortgage rates and fees for leading lenders in Watertown, 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 Watertown.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Watertown. Plus, shopping lenders is free and there is no obligation.
December 11, 2019
The current average rate for a 30 year fixed rate mortgage in Watertown 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 Watertown, NY (Jefferson County) is $161,795
The median household income for Watertown, NY (Jefferson County) is $51,860
Based on current mortgage rates and a 10% down payment, you need to make $30,018 per year to buy the median priced home in Watertown
The home price you can afford to buy based on household income in Watertown is 173% of the median home value which means housing prices are average
Watertown (Jefferson County) ranks 41 out of 62 counties in New York and 2,143 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Watertown, NY is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Watertown (Jefferson County) below.
Conforming loan limits for Watertown, NY
FHA loan limits for Watertown, NY
VA loan limits for Watertown, 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