Current Mortgage Rates in Auburn, Alabama

Compare mortgage rates and fees for leading lenders in Auburn, AL. 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 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.

Mortgage Rates in Auburn, AL as of September 27, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Auburn, AL Mortgage Rates Compare?

September 27, 2020

The current average rate for a 30 year fixed rate mortgage in Auburn 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%

Mortgage Program
Auburn, AL Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Auburn, Alabama?

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 $174,466

Based on current mortgage rates and a 10% down payment, you need to make $31,399 per year to buy the median priced home in Auburn

With this income, you could qualify for a $157,020 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 $727

The median household income for Auburn, AL (Lee County) is $50,163

Based on this income, you can afford a home valued at approximately $278,723

The home price you can afford to buy based on household income in Auburn is 160% of the median home value which means housing prices are average. Auburn (Lee County) ranks 63 out of 67 counties in Alabama and 2,361 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


Loan Limits for Auburn, Alabama

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

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Auburn, AL

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Auburn, AL

1 unit: $510,400

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