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Adel

Current Mortgage Rates in Adel, Iowa

Compare mortgage rates and fees for leading lenders in Adel, IA. 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 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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Mortgage Rates in Adel, IA as of September 24, 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 Adel, IA Mortgage Rates Compare?

September 24, 2020

The current average rate for a 30 year fixed rate mortgage in Adel 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
Adel, IA 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 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 $268,939

Based on current mortgage rates and a 10% down payment, you need to make $48,402 per year to buy the median priced home in Adel

With this income, you could qualify for a $242,045 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 $1,121

The median household income for Adel, IA (Dallas County) is $87,239

Based on this income, you can afford a home valued at approximately $484,730

The home price you can afford to buy based on household income in Adel is 180% of the median home value which means housing prices are average. Adel (Dallas County) ranks 96 out of 99 counties in Iowa and 1,946 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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Adel, IA

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Adel, IA

1 unit: $510,400

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