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Fort Lauderdale

Current Mortgage Rates in Fort Lauderdale, Florida

Compare mortgage rates and fees for leading lenders in Fort Lauderdale, FL. 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 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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Mortgage Rates in Fort Lauderdale, FL as of September 20, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Fort Lauderdale, FL Mortgage Rates Compare?

September 20, 2020

The current average rate for a 30 year fixed rate mortgage in Fort Lauderdale 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
Fort Lauderdale, FL Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

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 $307,608

Based on current mortgage rates and a 10% down payment, you need to make $55,361 per year to buy the median priced home in Fort Lauderdale

With this income, you could qualify for a $276,847 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 $1,282

The median household income for Fort Lauderdale, FL (Broward County) is $57,895

Based on this income, you can afford a home valued at approximately $321,683

The home price you can afford to buy based on household income in Fort Lauderdale is 105% of the median home value which means housing prices are average. Fort Lauderdale (Broward County) ranks 61 out of 67 counties in Florida and 2,963 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 average

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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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Fort Lauderdale, FL

1 unit: $373,750
2 units: $478,450
3 units: $578,350
4 units: $718,750

VA loan limits for Fort Lauderdale, FL

1 unit: $510,400

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