Compare mortgage rates and fees for leading lenders in Daphne, 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 Daphne.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Daphne. Plus, shopping lenders is free and there is no obligation.
January 20, 2020
The current average rate for a 30 year fixed rate mortgage in Daphne 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Daphne. Understand how much you need to earn to afford a home in Daphne, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Daphne 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 Daphne is right for you.
The median home value for Daphne, AL (Baldwin County) is $235,586
Based on current mortgage rates and a 10% down payment, you need to make $42,399 per year to buy the median priced home in Daphne
With this income, you could qualify for a $212,027 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 Daphne is $982
The median household income for Daphne, AL (Baldwin County) is $55,434
Based on this income, you can afford a home valued at approximately $308,011
The home price you can afford to buy based on household income in Daphne is 131% of the median home value which means housing prices are average. Daphne (Baldwin County) ranks 67 out of 67 counties in Alabama and 2,765 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Daphne, AL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Daphne (Baldwin County) below.
Conforming loan limits for Daphne, AL
FHA loan limits for Daphne, AL
VA loan limits for Daphne, AL