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State College

Current Mortgage Rates in State College, Pennsylvania

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.

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Mortgage Rates in State College, PA as of July 16, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's State College, PA Mortgage Rates Compare?

July 16, 2020

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%

Mortgage Program
Today's
State College, PA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in State College, Pennsylvania?

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 $252,367

Based on current mortgage rates and a 10% down payment, you need to make $45,420 per year to buy the median priced home in State College

With this income, you could qualify for a $227,131 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 $1,052

The median household income for State College, PA (Centre County) is $59,551

Based on this income, you can afford a home valued at approximately $330,889

The home price you can afford to buy based on household income in State College is 131% of the median home value which means housing prices are average. State College (Centre County) ranks 66 out of 67 counties in Pennsylvania and 2,764 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

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Loan Limits for State College, Pennsylvania

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

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for State College, PA

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for State College, PA

1 unit: $510,400

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