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West Chester

Current Mortgage Rates in West Chester, Pennsylvania

Compare mortgage rates and fees for leading lenders in West Chester, 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 West Chester.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in West Chester. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in West Chester, PA as of January 23, 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 West Chester, PA Mortgage Rates Compare?

January 23, 2020

The current average rate for a 30 year fixed rate mortgage in West Chester 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
West Chester, 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 West Chester, Pennsylvania?

Below we provide helpful information on the real estate market, home prices and housing affordability in West Chester. Understand how much you need to earn to afford a home in West Chester, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in West Chester 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 West Chester is right for you.

The median home value for West Chester, PA (Chester County) is $388,782

Based on current mortgage rates and a 10% down payment, you need to make $69,971 per year to buy the median priced home in West Chester

With this income, you could qualify for a $349,904 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 West Chester is $1,620

The median household income for West Chester, PA (Chester County) is $97,467

Based on this income, you can afford a home valued at approximately $541,560

The home price you can afford to buy based on household income in West Chester is 139% of the median home value which means housing prices are average. West Chester (Chester County) ranks 64 out of 67 counties in Pennsylvania and 2,679 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in West Chester, PA is average

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Loan Limits for West Chester, Pennsylvania

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for West Chester (Chester County) below.

Conforming loan limits for West Chester, PA

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

FHA loan limits for West Chester, PA

1 unit: $408,250
2 units: $522,600
3 units: $631,750
4 units: $785,100

VA loan limits for West Chester, PA

1 unit: $510,400

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