Compare mortgage rates and fees for leading lenders in Jackson, 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 Jackson.
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November 11, 2019
The current average rate for a 30 year fixed rate mortgage in Jackson 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 Jackson, TN (Madison County) is $146,026
The median household income for Jackson, TN (Madison County) is $45,856
Based on current mortgage rates and a 10% down payment, you need to make $27,092 per year to buy the median priced home in Jackson
The home price you can afford to buy based on household income in Jackson is 169% of the median home value which means housing prices are average
Jackson (Madison County) ranks 52 out of 95 counties in Tennessee and 2,199 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Jackson, TN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Jackson (Madison County) below.
Conforming loan limits for Jackson, TN
FHA loan limits for Jackson, TN
VA loan limits for Jackson, 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