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 21, 2019
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%
The median home value for Mansfield, OH (Richland County) is $119,553
The median household income for Mansfield, OH (Richland County) is $45,487
Based on current mortgage rates and a 10% down payment, you need to make $22,181 per year to buy the median priced home in Mansfield
The home price you can afford to buy based on household income in Mansfield is 205% of the median home value which means housing prices are affordable
Mansfield (Richland County) ranks 50 out of 88 counties in Ohio and 1,489 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
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