Compare mortgage rates and fees for leading lenders in Scranton, 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 Scranton.
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August 22, 2019
The current average rate for a 30 year fixed rate mortgage in Scranton 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 Scranton, PA (Lackawanna County) is $155,397
The median household income for Scranton, PA (Lackawanna County) is $49,859
Based on current mortgage rates and a 10% down payment, you need to make $28,831 per year to buy the median priced home in Scranton
The home price you can afford to by based on household income in Scranton is 173% of the median home value which means housing prices are average
Scranton (Lackawanna County) ranks 46 out of 67 counties in Pennsylvania and 2,139 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Scranton, PA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Scranton (Lackawanna County) below.
Conforming loan limits for Scranton, PA
FHA loan limits for Scranton, PA
VA loan limits for Scranton, 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