Compare mortgage rates and fees for leading lenders in Medina, 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 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 16, 2019
The current average rate for a 30 year fixed rate mortgage in Medina 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 Medina, OH is $214,140
The median household income for Medina, OH is $73,784
Based on current mortgage rates and a 10% down payment, you need to make $39,730 per year to buy the median priced home in Medina
The home price you can afford to buy based on household income in Medina is 186% of the median home value which means housing prices are average
Medina ranks 76 out of 88 counties in Ohio and 1,864 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
VA loan limits for Medina, 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