Compare State College, 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 State College.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in State College. Plus, shopping lenders is free and there is no obligation.
October 1, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in State College. Understand how much you need to earn to afford a home in State College, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in State College 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 State College is right for you.
The median home value for State College, PA (Centre County) is $302,701
Based on current mortgage rates and a 10% down payment, you need to make $49,596 per year to buy the median priced home in State College
With this income, you could qualify for a $272,431 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 State College is $1,149
The median household income for State College, PA (Centre County) is $65,615
Based on this income, you can afford a home valued at approximately $400,470
The home price you can afford to buy based on household income in State College is 132% of the median home value which means housing prices are average. State College (Centre County) ranks 67 out of 67 counties in Pennsylvania and 2,782 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in State College, PA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for State College (Centre County) below.
Conforming loan limits for State College, PA
FHA loan limits for State College, PA
VA loan limits for State College, PA