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.
October 23, 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%
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 buy 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
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
FHA loan limits for Hammond, LA
VA loan limits for Hammond, LA
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