Compare mortgage rates and fees for leading lenders in State College, 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 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 22, 2019
The current average rate for a 30 year fixed rate mortgage in State College 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 State College, PA (Centre County) is $237,411
The median household income for State College, PA (Centre County) is $58,192
Based on current mortgage rates and a 10% down payment, you need to make $44,047 per year to buy the median priced home in State College
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 66 out of 67 counties in Pennsylvania and 2,771 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
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