Compare mortgage rates and fees for leading lenders in Gadsden, 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 Gadsden.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Gadsden. Plus, shopping lenders is free and there is no obligation.
July 11, 2020
The current average rate for a 30 year fixed rate mortgage in Gadsden 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Gadsden. Understand how much you need to earn to afford a home in Gadsden, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Gadsden 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 Gadsden is right for you.
The median home value for Gadsden, AL (Etowah County) is $136,020
Based on current mortgage rates and a 10% down payment, you need to make $24,480 per year to buy the median priced home in Gadsden
With this income, you could qualify for a $122,418 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 Gadsden is $567
The median household income for Gadsden, AL (Etowah County) is $44,362
Based on this income, you can afford a home valued at approximately $246,493
The home price you can afford to buy based on household income in Gadsden is 181% of the median home value which means housing prices are average. Gadsden (Etowah County) ranks 49 out of 67 counties in Alabama and 1,929 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Gadsden, AL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Gadsden (Etowah County) below.
Conforming loan limits for Gadsden, AL
FHA loan limits for Gadsden, AL
VA loan limits for Gadsden, AL