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Fort Lauderdale

Compare Current Fort Lauderdale, Florida Mortgage Rates

Compare Fort Lauderdale, FL 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 Fort Lauderdale.

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

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Fort Lauderdale, FL Mortgage Rates as of May 25, 2024
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Fort Lauderdale, FL Mortgage Rates

May 25, 2024

Current mortgage rates in Fort Lauderdale, FL are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Fort Lauderdale, FL Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Fort Lauderdale, Florida?

Below we provide helpful information on the real estate market, home prices and housing affordability in Fort Lauderdale. Understand how much you need to earn to afford a home in Fort Lauderdale, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Fort Lauderdale 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 Fort Lauderdale is right for you.

The median home value for Fort Lauderdale, FL (Broward County) is $416,704

Based on current mortgage rates and a 10% down payment, you need to make $86,931 per year to buy the median priced home in Fort Lauderdale

With this income, you could qualify for a $375,034 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 Fort Lauderdale is $2,013

The median household income for Fort Lauderdale, FL (Broward County) is $66,707

Based on this income, you can afford a home valued at approximately $319,759

The home price you can afford to buy based on household income in Fort Lauderdale is 77% of the median home value which means housing prices are very expensive. Fort Lauderdale (Broward County) ranks 63 out of 67 counties in Florida and 3,030 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Fort Lauderdale, FL is very expensive

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Loan Limits for Fort Lauderdale, Florida

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Fort Lauderdale (Broward County) below.

Conforming loan limits for Fort Lauderdale, FL

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Fort Lauderdale, FL

1 unit: $557,750
2 units: $714,000
3 units: $863,100
4 units: $1,072,600

VA loan limits for Fort Lauderdale, FL

1 unit: $726,200

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