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Reading

Compare Current Reading, Pennsylvania Mortgage Rates

Compare Reading, 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 Reading.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Reading. Plus, shopping lenders is free and there is no obligation.

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Reading, PA Mortgage Rates as of May 23, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Reading, PA Mortgage Rates

May 23, 2022

Current mortgage rates in Reading, PA are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Reading, PA Rates
National
Average
Comparison
30 Year Fixed Rate
%
5.250%
15 Year Fixed Rate
%
4.430%
5/1 Adjustable Rate Mortgage
%
4.080%

How Affordable is Housing in Reading, Pennsylvania?

Below we provide helpful information on the real estate market, home prices and housing affordability in Reading. Understand how much you need to earn to afford a home in Reading, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Reading 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 Reading is right for you.

The median home value for Reading, PA (Berks County) is $232,680

Based on current mortgage rates and a 10% down payment, you need to make $38,124 per year to buy the median priced home in Reading

With this income, you could qualify for a $209,412 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 Reading is $883

The median household income for Reading, PA (Berks County) is $73,184

Based on this income, you can afford a home valued at approximately $446,661

The home price you can afford to buy based on household income in Reading is 192% of the median home value which means housing prices are average. Reading (Berks County) ranks 42 out of 67 counties in Pennsylvania and 1,895 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Reading, PA is average

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Loan Limits for Reading, Pennsylvania

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Reading (Berks County) below.

Conforming loan limits for Reading, PA

1 unit: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Reading, PA

1 unit: $420,680
2 units: $538,650
3 units: $651,050
4 units: $809,150

VA loan limits for Reading, PA

1 unit: $647,200

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