Compare Pennsylvania 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 Pennsylvania.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Pennsylvania. Plus, shopping lenders is free and there is no obligation.
November 29, 2023
Below we offer valuable insights on the housing market and real estate prices in Pennsylvania. Understand how much you need to make to buy a house in Pennsylvania, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Pennsylvania is affordable for you. We provide this helpful information to help you decide if living in Pennsylvania is right for you.
The median home value for Pennsylvania is $255,554
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Pennsylvania is $53,313
With this income, you could qualify for a $229,998 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 Pennsylvania is $1,235
The median household income for Pennsylvania is $71,985
Based on this income, you can afford a home valued at approximately $345,058
The home price you can afford to buy based on household income in Pennsylvania is 135% of the median home value which means housing prices are affordable. Pennsylvania ranks 17 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Pennsylvania is affordable