Compare mortgage rates and fees for leading lenders in Wayne, 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 Wayne.
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August 18, 2019
The current average rate for a 30 year fixed rate mortgage in Wayne 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 Wayne, OH is $160,820
The median household income for Wayne, OH is $55,689
Based on current mortgage rates and a 10% down payment, you need to make $29,837 per year to buy the median priced home in Wayne
The home price you can afford to by based on household income in Wayne is 187% of the median home value which means housing prices are average
Wayne ranks 75 out of 88 counties in Ohio and 1,848 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Wayne, OH is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Wayne below.
Conforming loan limits for Wayne, OH
FHA loan limits for Wayne, OH
VA loan limits for Wayne, 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