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Davenport

Current Mortgage Rates in Davenport, Iowa

Compare mortgage rates and fees for leading lenders in Davenport, 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 Davenport.

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

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Mortgage Rates in Davenport, IA as of October 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 Davenport, IA Mortgage Rates Compare?

October 22, 2019

The current average rate for a 30 year fixed rate mortgage in Davenport 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
Davenport, IA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Davenport, Iowa?

The median home value for Davenport, IA (Scott County) is $159,276

The median household income for Davenport, IA (Scott County) is $59,444

Based on current mortgage rates and a 10% down payment, you need to make $29,551 per year to buy the median priced home in Davenport

The home price you can afford to buy based on household income in Davenport is 201% of the median home value which means housing prices are affordable

Davenport (Scott County) ranks 90 out of 99 counties in Iowa and 1,572 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Davenport, IA is affordable

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Loan Limits for Davenport, Iowa

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

Conforming loan limits for Davenport, IA

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

FHA loan limits for Davenport, IA

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Davenport, IA

1 unit: $484,350

Additional Mortgage Resources for Davenport, IA Residents

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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