»
»
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.

%
Mortgage Rates in Daphne, AL as of July 9, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
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.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

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

July 9, 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%

Mortgage Program
Today's
Daphne, AL Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Daphne, Alabama?

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

orange-simple-house
ruler

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

FHA loan limits for Daphne, AL

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

VA loan limits for Daphne, AL

1 unit: $510,400

Additional Mortgage Resources for Daphne, 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