Compare Watertown, 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 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.
January 21, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Watertown. Understand how much you need to earn to afford a home in Watertown, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Watertown 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 Watertown is right for you.
The median home value for Watertown, NY (Jefferson County) is $171,985
Based on current mortgage rates and a 10% down payment, you need to make $28,179 per year to buy the median priced home in Watertown
With this income, you could qualify for a $154,787 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 Watertown is $653
The median household income for Watertown, NY (Jefferson County) is $58,277
Based on this income, you can afford a home valued at approximately $355,684
The home price you can afford to buy based on household income in Watertown is 207% of the median home value which means housing prices are affordable. Watertown (Jefferson County) ranks 35 out of 62 counties in New York and 1,591 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 affordable
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