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Daphne

Current Mortgage Rates in Daphne, Alabama

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.

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Mortgage Rates in Daphne, AL as of October 22, 2019
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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 Daphne, AL Mortgage Rates Compare?

October 22, 2019

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%

Mortgage Program
Today's
Daphne, 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 Daphne, Alabama?

The median home value for Daphne, AL (Baldwin County) is $213,586

The median household income for Daphne, AL (Baldwin County) is $54,169

Based on current mortgage rates and a 10% down payment, you need to make $39,627 per year to buy the median priced home in Daphne

The home price you can afford to buy based on household income in Daphne is 137% of the median home value which means housing prices are average

Daphne (Baldwin County) ranks 67 out of 67 counties in Alabama and 2,721 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

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Loan Limits for Daphne, Alabama

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

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

FHA loan limits for Daphne, AL

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

VA loan limits for Daphne, AL

1 unit: $484,350

Additional Mortgage Resources for Daphne, AL Residents

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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