Compare mortgage rates and fees for leading lenders in Bensalem, PA. 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 Bensalem.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Bensalem. Plus, shopping lenders is free and there is no obligation.
July 9, 2020
The current average rate for a 30 year fixed rate mortgage in Bensalem 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 Bensalem. Understand how much you need to earn to afford a home in Bensalem, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Bensalem 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 Bensalem is right for you.
The median home value for Bensalem, PA (Bucks County) is $357,789
Based on current mortgage rates and a 10% down payment, you need to make $64,393 per year to buy the median priced home in Bensalem
With this income, you could qualify for a $322,010 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 Bensalem is $1,491
The median household income for Bensalem, PA (Bucks County) is $86,513
Based on this income, you can afford a home valued at approximately $480,699
The home price you can afford to buy based on household income in Bensalem is 134% of the median home value which means housing prices are average. Bensalem (Bucks County) ranks 65 out of 67 counties in Pennsylvania and 2,733 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Bensalem, PA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Bensalem (Bucks County) below.
Conforming loan limits for Bensalem, PA
FHA loan limits for Bensalem, PA
VA loan limits for Bensalem, PA