Compare mortgage rates and fees for leading lenders in Reading, 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 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.
February 22, 2020
The current average rate for a 30 year fixed rate mortgage in Reading 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 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 $192,952
Based on current mortgage rates and a 10% down payment, you need to make $34,726 per year to buy the median priced home in Reading
With this income, you could qualify for a $173,657 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 $804
The median household income for Reading, PA (Berks County) is $62,836
Based on this income, you can afford a home valued at approximately $349,137
The home price you can afford to buy based on household income in Reading is 181% of the median home value which means housing prices are average. Reading (Berks County) ranks 40 out of 67 counties in Pennsylvania and 1,936 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
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
FHA loan limits for Reading, PA
VA loan limits for Reading, PA