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.
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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%
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
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
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