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Adel

Compare Current Adel, Iowa Mortgage Rates

Compare Adel, IA 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 Adel.

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

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Adel, IA Mortgage Rates as of February 22, 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 or insurance premiums. 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 Adel, IA Mortgage Rates

February 22, 2024

Current mortgage rates in Adel, IA 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
Adel, IA 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 Adel, Iowa?

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

The median home value for Adel, IA (Dallas County) is $315,657

Based on current mortgage rates and a 10% down payment, you need to make $65,851 per year to buy the median priced home in Adel

With this income, you could qualify for a $284,091 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 Adel is $1,525

The median household income for Adel, IA (Dallas County) is $92,075

Based on this income, you can afford a home valued at approximately $441,361

The home price you can afford to buy based on household income in Adel is 140% of the median home value which means housing prices are average. Adel (Dallas County) ranks 96 out of 99 counties in Iowa and 2,131 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Adel, IA is average

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Loan Limits for Adel, Iowa

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

Conforming loan limits for Adel, IA

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

FHA loan limits for Adel, IA

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Adel, IA

1 unit: $726,200

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