Compare Medina, OH mortgage rates and fees from top lenders. 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 lowest mortgage rates in Medina.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Medina. Plus, shopping lenders is free and there is no obligation.
December 1, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Medina. Understand how much you need to earn to afford a home in Medina, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Medina 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 Medina is right for you.
The median home value for Medina, OH is $258,818
Based on current mortgage rates and a 10% down payment, you need to make $42,406 per year to buy the median priced home in Medina
With this income, you could qualify for a $232,937 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 Medina is $982
The median household income for Medina, OH is $82,652
Based on this income, you can afford a home valued at approximately $504,450
The home price you can afford to buy based on household income in Medina is 195% of the median home value which means housing prices are average. Medina ranks 72 out of 88 counties in Ohio and 1,837 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Medina, OH is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Medina below.
Conforming loan limits for Medina, OH
FHA loan limits for Medina, OH