CALCMONEY // MORTGAGE // PA // READING
Calculate your monthly mortgage payment using Reading-specific property tax rates and local market data.
$195,000
6.9%
1.75%
96
| Principal & Interest | $1,027 |
| Property Tax | $284 |
| Homeowners Insurance (est.) | $65 |
| Total Monthly Payment (PITI) | $1,377 |
$39,000
$213,870
$59,005/yr
Buying the median home in Reading means financing $195,000. Against the area's $34,000 median household income, that works out to a 5.7x price-to-income ratio.
Property taxes in Reading run 1.75% of assessed value, above the 1.1% national average. On the median home, that's $3,413 a year, or $284 added to the monthly payment.
Pennsylvania levies a state income tax on top of the $1,377/month this mortgage runs. Model your real after-tax take-home before deciding how much payment you can carry.
Reading's cost of living index is 96, below the 100 national baseline. That's on top of the housing numbers above, not instead of them.
Reading's median home price runs 26% lower than nearby Philadelphia: $265,000 there versus $195,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $156,000 loan saves $7,020 in interest over 30 years.
Compare Top Reading Mortgage LendersPhiladelphia
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