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Dothan

Current Mortgage Rates in Dothan, Alabama

Compare mortgage rates and fees for leading lenders in Dothan, 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 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.

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Mortgage Rates in Dothan, AL as of December 16, 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 Dothan, AL Mortgage Rates Compare?

December 16, 2019

The current average rate for a 30 year fixed rate mortgage in Dothan 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
Dothan, 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 Dothan, Alabama?

The median home value for Dothan, AL (Houston County) is $143,519

The median household income for Dothan, AL (Houston County) is $44,112

Based on current mortgage rates and a 10% down payment, you need to make $26,627 per year to buy the median priced home in Dothan

The home price you can afford to buy based on household income in Dothan is 166% of the median home value which means housing prices are average

Dothan (Houston County) ranks 62 out of 67 counties in Alabama and 2,276 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

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Loan Limits for Dothan, Alabama

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

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

FHA loan limits for Dothan, AL

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

VA loan limits for Dothan, AL

1 unit: $484,350

Additional Mortgage Resources for Dothan, 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