Compare mortgage rates and fees for leading lenders in Cleveland, 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 Cleveland.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Cleveland. 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 Cleveland 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 Cleveland, TN (Bradley County) is $184,869
The median household income for Cleveland, TN (Bradley County) is $47,799
Based on current mortgage rates and a 10% down payment, you need to make $34,299 per year to buy the median priced home in Cleveland
The home price you can afford to buy based on household income in Cleveland is 139% of the median home value which means housing prices are average
Cleveland (Bradley County) ranks 89 out of 95 counties in Tennessee and 2,689 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Cleveland, TN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Cleveland (Bradley County) below.
Conforming loan limits for Cleveland, TN
FHA loan limits for Cleveland, TN
VA loan limits for Cleveland, 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