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Westmoreland

Current Mortgage Rates in Westmoreland, Pennsylvania

Compare mortgage rates and fees for leading lenders in Westmoreland, 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 Westmoreland.

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

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Mortgage Rates in Westmoreland, PA as of October 23, 2019
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Get Personalized Mortgage Quotes for Westmoreland, PA

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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.

How Do Today's Westmoreland, PA Mortgage Rates Compare?

October 23, 2019

The current average rate for a 30 year fixed rate mortgage in Westmoreland 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
Westmoreland, PA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Westmoreland, Pennsylvania?

The median home value for Westmoreland, PA is $159,062

The median household income for Westmoreland, PA is $58,435

Based on current mortgage rates and a 10% down payment, you need to make $29,511 per year to buy the median priced home in Westmoreland

The home price you can afford to buy based on household income in Westmoreland is 198% of the median home value which means housing prices are average

Westmoreland ranks 28 out of 67 counties in Pennsylvania and 1,628 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Westmoreland, Pennsylvania

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Westmoreland below.

Conforming loan limits for Westmoreland, PA

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Westmoreland, PA

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Westmoreland, PA

1 unit: $484,350

Additional Mortgage Resources for Westmoreland, PA Residents

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Sources

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