Compare Dover, DE 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 Dover.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Dover. Plus, shopping lenders is free and there is no obligation.
June 26, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Dover. Understand how much you need to earn to afford a home in Dover, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Dover 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 Dover is right for you.
The median home value for Dover, DE (Kent County) is $279,023
Based on current mortgage rates and a 10% down payment, you need to make $45,717 per year to buy the median priced home in Dover
With this income, you could qualify for a $251,121 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 Dover is $1,059
The median household income for Dover, DE (Kent County) is $62,692
Based on this income, you can afford a home valued at approximately $382,626
The home price you can afford to buy based on household income in Dover is 137% of the median home value which means housing prices are average. Dover (Kent County) ranks 2 out of 3 counties in Delaware and 2,738 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Dover, DE is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Dover (Kent County) below.
Conforming loan limits for Dover, DE
FHA loan limits for Dover, DE
VA loan limits for Dover, DE