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Battle Creek

Compare Current Battle Creek, Michigan Mortgage Rates

Compare Battle Creek, MI mortgage rates and fees from top lenders. 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 lowest 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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Battle Creek, MI Mortgage Rates as of November 30, 2022
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Data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Battle Creek, MI Mortgage Rates

November 30, 2022

Current mortgage rates in Battle Creek, MI are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Battle Creek, MI Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.580%
15 Year Fixed Rate
%
5.900%
5/1 Adjustable Rate Mortgage
%
5.895%

How Affordable is Housing in Battle Creek, Michigan?

Below we provide helpful information on the real estate market, home prices and housing affordability in Battle Creek. Understand how much you need to earn to afford a home in Battle Creek, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Battle Creek 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 Battle Creek is right for you.

The median home value for Battle Creek, MI (Calhoun County) is $146,823

Based on current mortgage rates and a 10% down payment, you need to make $24,056 per year to buy the median priced home in Battle Creek

With this income, you could qualify for a $132,141 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 Battle Creek is $557

The median household income for Battle Creek, MI (Calhoun County) is $53,022

Based on this income, you can afford a home valued at approximately $323,610

The home price you can afford to buy based on household income in Battle Creek is 220% of the median home value which means housing prices are affordable. Battle Creek (Calhoun County) ranks 36 out of 83 counties in Michigan and 1,323 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: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Battle Creek, MI

1 unit: $420,680
2 units: $538,650
3 units: $651,050
4 units: $809,150

VA loan limits for Battle Creek, MI

1 unit: $647,200

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