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.
December 11, 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%
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
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
FHA loan limits for Davenport, IA
VA loan limits for Davenport, IA
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