Compare Auburn, AL mortgage rates and fees from top lenders. 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 lowest mortgage rates in Auburn.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Auburn. Plus, shopping lenders is free and there is no obligation.
August 16, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Auburn. Understand how much you need to earn to afford a home in Auburn, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Auburn fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Auburn is right for you.
The median home value for Auburn, AL (Lee County) is $225,822
Based on current mortgage rates and a 10% down payment, you need to make $37,000 per year to buy the median priced home in Auburn
With this income, you could qualify for a $203,240 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Auburn is $857
The median household income for Auburn, AL (Lee County) is $58,056
Based on this income, you can afford a home valued at approximately $354,332
The home price you can afford to buy based on household income in Auburn is 157% of the median home value which means housing prices are average. Auburn (Lee County) ranks 66 out of 67 counties in Alabama and 2,501 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Auburn, AL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Auburn (Lee County) below.
Conforming loan limits for Auburn, AL
FHA loan limits for Auburn, AL
VA loan limits for Auburn, AL