Compare mortgage rates and fees for leading lenders in Alexandria, LA. 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 Alexandria.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Alexandria. Plus, shopping lenders is free and there is no obligation.
July 9, 2020
The current average rate for a 30 year fixed rate mortgage in Alexandria 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Alexandria. Understand how much you need to earn to afford a home in Alexandria, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Alexandria 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 Alexandria is right for you.
The median home value for Alexandria, LA (Rapides County) is $148,838
Based on current mortgage rates and a 10% down payment, you need to make $26,787 per year to buy the median priced home in Alexandria
With this income, you could qualify for a $133,954 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 Alexandria is $620
The median household income for Alexandria, LA (Rapides County) is $44,986
Based on this income, you can afford a home valued at approximately $249,957
The home price you can afford to buy based on household income in Alexandria is 168% of the median home value which means housing prices are average. Alexandria (Rapides County) ranks 51 out of 64 counties in Louisiana and 2,216 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Alexandria, LA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Alexandria (Rapides County) below.
Conforming loan limits for Alexandria, LA
FHA loan limits for Alexandria, LA
VA loan limits for Alexandria, LA