Compare mortgage rates and fees for leading lenders in Akron, OH. 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 Akron.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Akron. Plus, shopping lenders is free and there is no obligation.
October 14, 2019
The current average rate for a 30 year fixed rate mortgage in Akron 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 Akron, OH (Summit County) is $150,962
The median household income for Akron, OH (Summit County) is $54,920
Based on current mortgage rates and a 10% down payment, you need to make $28,008 per year to buy the median priced home in Akron
The home price you can afford to buy based on household income in Akron is 196% of the median home value which means housing prices are average
Akron (Summit County) ranks 65 out of 88 counties in Ohio and 1,671 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Akron, OH is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Akron (Summit County) below.
Conforming loan limits for Akron, OH
FHA loan limits for Akron, OH
VA loan limits for Akron, OH
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