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.
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%
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
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
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