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Hammond

Current Mortgage Rates in Hammond, Louisiana

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

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

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Mortgage Rates in Hammond, LA as of August 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 Hammond, LA Mortgage Rates Compare?

August 22, 2019

The current average rate for a 30 year fixed rate mortgage in Hammond 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
Hammond, LA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Hammond, Louisiana?

The median home value for Hammond, LA (Tangipahoa County) is $155,453

The median household income for Hammond, LA (Tangipahoa County) is $47,304

Based on current mortgage rates and a 10% down payment, you need to make $28,841 per year to buy the median priced home in Hammond

The home price you can afford to by based on household income in Hammond is 164% of the median home value which means housing prices are average

Hammond (Tangipahoa County) ranks 52 out of 64 counties in Louisiana and 2,300 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Hammond, LA is average

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Loan Limits for Hammond, Louisiana

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

Conforming loan limits for Hammond, LA

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

FHA loan limits for Hammond, LA

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

VA loan limits for Hammond, LA

1 unit: $484,350

Additional Mortgage Resources for Hammond, LA 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