Compare mortgage rates and fees for leading lenders in Mercer, 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 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.
December 14, 2019
The current average rate for a 30 year fixed rate mortgage in Mercer 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 Mercer, PA is $130,132
The median household income for Mercer, PA is $48,787
Based on current mortgage rates and a 10% down payment, you need to make $24,144 per year to buy the median priced home in Mercer
The home price you can afford to buy based on household income in Mercer is 202% of the median home value which means housing prices are affordable
Mercer ranks 27 out of 67 counties in Pennsylvania and 1,552 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
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