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Sussex

Current Mortgage Rates in Sussex, Delaware

Compare mortgage rates and fees for leading lenders in Sussex, DE. 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 Sussex.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Sussex. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Sussex, DE as of August 22, 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 Sussex, DE Mortgage Rates Compare?

August 22, 2019

The current average rate for a 30 year fixed rate mortgage in Sussex 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
Sussex, DE Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Sussex, Delaware?

The median home value for Sussex, DE is $285,658

The median household income for Sussex, DE is $59,671

Based on current mortgage rates and a 10% down payment, you need to make $52,998 per year to buy the median priced home in Sussex

The home price you can afford to by based on household income in Sussex is 113% of the median home value which means housing prices are average

Sussex ranks 3 out of 3 counties in Delaware and 2,920 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Sussex, DE is average

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Loan Limits for Sussex, Delaware

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Sussex below.

Conforming loan limits for Sussex, DE

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

FHA loan limits for Sussex, DE

1 unit: $336,950
2 units: $431,350
3 units: $521,400
4 units: $648,000

VA loan limits for Sussex, DE

1 unit: $484,350

Additional Mortgage Resources for Sussex, DE Residents

Mortgage Rates for Delaware Cities

Dover Mortgage Rates

Sussex Mortgage Rates

Wilmington Mortgage Rates

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