Compare mortgage rates and fees for leading lenders in Canton, 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 Canton.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Canton. Plus, shopping lenders is free and there is no obligation.
August 19, 2019
The current average rate for a 30 year fixed rate mortgage in Canton 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 Canton, OH (Stark County) is $140,925
The median household income for Canton, OH (Stark County) is $51,649
Based on current mortgage rates and a 10% down payment, you need to make $26,146 per year to buy the median priced home in Canton
The home price you can afford to by based on household income in Canton is 198% of the median home value which means housing prices are average
Canton (Stark County) ranks 63 out of 88 counties in Ohio and 1,637 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Canton, OH is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Canton (Stark County) below.
Conforming loan limits for Canton, OH
FHA loan limits for Canton, OH
VA loan limits for Canton, 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