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.
July 2, 2020
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%
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 $137,290
Based on current mortgage rates and a 10% down payment, you need to make $24,709 per year to buy the median priced home in Mercer
With this income, you could qualify for a $123,561 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 $572
The median household income for Mercer, PA is $49,927
Based on this income, you can afford a home valued at approximately $277,411
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 1,531 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