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Wayne

Current Mortgage Rates in Wayne, Ohio

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.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Wayne. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Wayne, OH as of January 24, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Wayne, OH Mortgage Rates Compare?

January 24, 2020

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%

Mortgage Program
Today's
Wayne, OH Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Wayne, Ohio?

Below we provide helpful information on the real estate market, home prices and housing affordability in Wayne. Understand how much you need to earn to afford a home in Wayne, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Wayne 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 Wayne is right for you.

The median home value for Wayne, OH is $170,308

Based on current mortgage rates and a 10% down payment, you need to make $30,651 per year to buy the median priced home in Wayne

With this income, you could qualify for a $153,278 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 Wayne is $710

The median household income for Wayne, OH is $56,990

Based on this income, you can afford a home valued at approximately $316,655

The home price you can afford to buy based on household income in Wayne is 186% of the median home value which means housing prices are average. Wayne ranks 75 out of 88 counties in Ohio and 1,845 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

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Loan Limits for Wayne, Ohio

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

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Wayne, OH

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Wayne, OH

1 unit: $510,400

Additional Mortgage Resources for Wayne, OH Residents

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