»
»
Auburn

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 December 14, 2019
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact

%
Get Personalized Mortgage Quotes for Auburn, AL

Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

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

December 14, 2019

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
Today's
Auburn, AL Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Auburn, Alabama?

The median home value for Auburn, AL (Lee County) is $165,842

The median household income for Auburn, AL (Lee County) is $49,018

Based on current mortgage rates and a 10% down payment, you need to make $30,769 per year to buy the median priced home in Auburn

The home price you can afford to buy based on household income in Auburn is 159% of the median home value which means housing prices are average

Auburn (Lee County) ranks 63 out of 67 counties in Alabama and 2,391 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

orange-simple-house
ruler

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: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Auburn, AL

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Auburn, AL

1 unit: $484,350

Additional Mortgage Resources for Auburn, AL Residents

Mortgage Rates for Alabama Cities

Albertville Mortgage Rates

Anniston Mortgage Rates

Athens Mortgage Rates

Auburn Mortgage Rates

Birmingham Mortgage Rates

Daphne Mortgage Rates

Decatur Mortgage Rates

Dothan Mortgage Rates

Florence Mortgage Rates

Gadsden Mortgage Rates

Huntsville Mortgage Rates

Mobile Mortgage Rates

Montgomery Mortgage Rates

Shelby Mortgage Rates

Tuscaloosa Mortgage Rates

Sources

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