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Battle Creek

Current Mortgage Rates in Battle Creek, Michigan

Compare mortgage rates and fees for leading lenders in Battle Creek, MI. 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 Battle Creek.

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

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Mortgage Rates in Battle Creek, MI as of December 12, 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 Battle Creek, MI Mortgage Rates Compare?

December 12, 2019

The current average rate for a 30 year fixed rate mortgage in Battle Creek 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
Battle Creek, MI 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 Battle Creek, Michigan?

The median home value for Battle Creek, MI (Calhoun County) is $126,193

The median household income for Battle Creek, MI (Calhoun County) is $47,626

Based on current mortgage rates and a 10% down payment, you need to make $23,413 per year to buy the median priced home in Battle Creek

The home price you can afford to buy based on household income in Battle Creek is 203% of the median home value which means housing prices are affordable

Battle Creek (Calhoun County) ranks 47 out of 83 counties in Michigan and 1,527 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Battle Creek, MI is affordable

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Loan Limits for Battle Creek, Michigan

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

Conforming loan limits for Battle Creek, MI

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

FHA loan limits for Battle Creek, MI

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

VA loan limits for Battle Creek, MI

1 unit: $484,350

Additional Mortgage Resources for Battle Creek, MI 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