Compare Mercer, PA 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 Mercer.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Mercer. Plus, shopping lenders is free and there is no obligation.
May 24, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Mercer. Understand how much you need to earn to afford a home in Mercer, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Mercer 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 Mercer is right for you.
The median home value for Mercer, PA is $149,684
Based on current mortgage rates and a 10% down payment, you need to make $24,525 per year to buy the median priced home in Mercer
With this income, you could qualify for a $134,716 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 Mercer is $568
The median household income for Mercer, PA is $58,954
Based on this income, you can afford a home valued at approximately $359,814
The home price you can afford to buy based on household income in Mercer is 240% of the median home value which means housing prices are affordable. Mercer ranks 14 out of 67 counties in Pennsylvania and 971 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Mercer, PA is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Mercer below.
Conforming loan limits for Mercer, PA
FHA loan limits for Mercer, PA
VA loan limits for Mercer, PA