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.
May 30, 2020
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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Canton. Understand how much you need to earn to afford a home in Canton, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Canton 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 Canton is right for you.
The median home value for Canton, OH (Stark County) is $149,944
Based on current mortgage rates and a 10% down payment, you need to make $26,986 per year to buy the median priced home in Canton
With this income, you could qualify for a $134,950 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 Canton is $625
The median household income for Canton, OH (Stark County) is $52,855
Based on this income, you can afford a home valued at approximately $293,684
The home price you can afford to buy based on household income in Canton is 196% of the median home value which means housing prices are average. Canton (Stark County) ranks 63 out of 88 counties in Ohio and 1,657 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