Compare Dothan, AL mortgage rates and fees from top lenders. 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 lowest mortgage rates in Dothan.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Dothan. Plus, shopping lenders is free and there is no obligation.
September 30, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Dothan. Understand how much you need to earn to afford a home in Dothan, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Dothan 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 Dothan is right for you.
The median home value for Dothan, AL (Houston County) is $166,230
Based on current mortgage rates and a 10% down payment, you need to make $34,678 per year to buy the median priced home in Dothan
With this income, you could qualify for a $149,607 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 Dothan is $803
The median household income for Dothan, AL (Houston County) is $47,616
Based on this income, you can afford a home valued at approximately $228,248
The home price you can afford to buy based on household income in Dothan is 137% of the median home value which means housing prices are average. Dothan (Houston County) ranks 52 out of 67 counties in Alabama and 2,181 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Dothan, AL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Dothan (Houston County) below.
Conforming loan limits for Dothan, AL
FHA loan limits for Dothan, AL
VA loan limits for Dothan, AL