Compare mortgage rates and fees for leading lenders in Mansfield, 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 Mansfield.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Mansfield. Plus, shopping lenders is free and there is no obligation.
October 1, 2020
The current average rate for a 30 year fixed rate mortgage in Mansfield 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 Mansfield. Understand how much you need to earn to afford a home in Mansfield, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Mansfield 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 Mansfield is right for you.
The median home value for Mansfield, OH (Richland County) is $128,041
Based on current mortgage rates and a 10% down payment, you need to make $23,044 per year to buy the median priced home in Mansfield
With this income, you could qualify for a $115,237 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 Mansfield is $534
The median household income for Mansfield, OH (Richland County) is $46,550
Based on this income, you can afford a home valued at approximately $258,647
The home price you can afford to buy based on household income in Mansfield is 202% of the median home value which means housing prices are affordable. Mansfield (Richland County) ranks 53 out of 88 counties in Ohio and 1,533 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Mansfield, OH is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Mansfield (Richland County) below.
Conforming loan limits for Mansfield, OH
FHA loan limits for Mansfield, OH
VA loan limits for Mansfield, OH