Compare mortgage rates and fees for leading lenders in Chattanooga, TN. 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 Chattanooga.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Chattanooga. Plus, shopping lenders is free and there is no obligation.
November 11, 2019
The current average rate for a 30 year fixed rate mortgage in Chattanooga 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 Chattanooga, TN (Hamilton County) is $192,548
The median household income for Chattanooga, TN (Hamilton County) is $51,810
Based on current mortgage rates and a 10% down payment, you need to make $35,724 per year to buy the median priced home in Chattanooga
The home price you can afford to buy based on household income in Chattanooga is 145% of the median home value which means housing prices are average
Chattanooga (Hamilton County) ranks 85 out of 95 counties in Tennessee and 2,608 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Chattanooga, TN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Chattanooga (Hamilton County) below.
Conforming loan limits for Chattanooga, TN
FHA loan limits for Chattanooga, TN
VA loan limits for Chattanooga, TN
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