Compare mortgage rates and fees for leading lenders in Milford, 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 Milford.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Milford. Plus, shopping lenders is free and there is no obligation.
April 4, 2020
The current average rate for a 30 year fixed rate mortgage in Milford 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 Milford. Understand how much you need to earn to afford a home in Milford, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Milford 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 Milford is right for you.
The median home value for Milford, OH (Clermont County) is $183,856
Based on current mortgage rates and a 10% down payment, you need to make $33,089 per year to buy the median priced home in Milford
With this income, you could qualify for a $165,470 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 Milford is $766
The median household income for Milford, OH (Clermont County) is $67,690
Based on this income, you can afford a home valued at approximately $376,110
The home price you can afford to buy based on household income in Milford is 205% of the median home value which means housing prices are affordable. Milford (Clermont County) ranks 49 out of 88 counties in Ohio and 1,484 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Milford, OH is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Milford (Clermont County) below.
Conforming loan limits for Milford, OH
FHA loan limits for Milford, OH
VA loan limits for Milford, OH