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Canton

Current Mortgage Rates in Canton, Ohio

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.

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Mortgage Rates in Canton, OH as of December 11, 2019
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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.

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

December 11, 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%

Mortgage Program
Today's
Canton, OH Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Canton, Ohio?

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 buy 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

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Loan Limits for Canton, Ohio

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

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Canton, OH

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Canton, OH

1 unit: $484,350

Additional Mortgage Resources for Canton, OH Residents

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Sources

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