»
»
Akron

Current Mortgage Rates in Akron, Ohio

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.

%
Mortgage Rates in Akron, OH as of February 22, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

How Do Today's Akron, OH Mortgage Rates Compare?

February 22, 2020

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%

Mortgage Program
Today's
Akron, OH 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 Akron, Ohio?

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

The median home value for Akron, OH (Summit County) is $160,020

Based on current mortgage rates and a 10% down payment, you need to make $28,799 per year to buy the median priced home in Akron

With this income, you could qualify for a $144,018 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 Akron is $667

The median household income for Akron, OH (Summit County) is $56,203

Based on this income, you can afford a home valued at approximately $312,283

The home price you can afford to buy based on household income in Akron is 195% of the median home value which means housing prices are average. Akron (Summit County) ranks 65 out of 88 counties in Ohio and 1,674 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

orange-simple-house
ruler

Loan Limits for Akron, Ohio

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

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

FHA loan limits for Akron, OH

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

VA loan limits for Akron, OH

1 unit: $510,400

Additional Mortgage Resources for Akron, OH Residents

Mortgage Rates for Ohio Cities

Akron Mortgage Rates

Bowling Green Mortgage Rates

Canton Mortgage Rates

Cincinnati Mortgage Rates

Cleveland Mortgage Rates

Columbiana Mortgage Rates

Columbus Mortgage Rates

Dayton Mortgage Rates

Delaware Mortgage Rates

Hamilton Mortgage Rates

Kent Mortgage Rates

Lancaster Mortgage Rates

Lima Mortgage Rates

Lorain Mortgage Rates

Mansfield Mortgage Rates

Mason Mortgage Rates

Medina Mortgage Rates

Mentor Mortgage Rates

Miami Mortgage Rates

Milford Mortgage Rates

Newark Mortgage Rates

Springfield Mortgage Rates

Toledo Mortgage Rates

Warren Mortgage Rates

Wayne Mortgage Rates

Xenia Mortgage Rates

Youngstown Mortgage Rates