Compare mortgage rates and fees for leading lenders in Huntsville, 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 Huntsville.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Huntsville. Plus, shopping lenders is free and there is no obligation.
October 23, 2019
The current average rate for a 30 year fixed rate mortgage in Huntsville 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 Huntsville, AL (Madison County) is $193,891
The median household income for Huntsville, AL (Madison County) is $63,193
Based on current mortgage rates and a 10% down payment, you need to make $35,973 per year to buy the median priced home in Huntsville
The home price you can afford to buy based on household income in Huntsville is 176% of the median home value which means housing prices are average
Huntsville (Madison County) ranks 56 out of 67 counties in Alabama and 2,076 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Huntsville, AL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Huntsville (Madison County) below.
Conforming loan limits for Huntsville, AL
FHA loan limits for Huntsville, AL
VA loan limits for Huntsville, 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