Compare mortgage rates and fees for leading lenders in Eaton, 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 Eaton.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Eaton. Plus, shopping lenders is free and there is no obligation.
August 22, 2019
The current average rate for a 30 year fixed rate mortgage in Eaton 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 Eaton, MI is $166,608
The median household income for Eaton, MI is $61,055
Based on current mortgage rates and a 10% down payment, you need to make $30,911 per year to buy the median priced home in Eaton
The home price you can afford to by based on household income in Eaton is 198% of the median home value which means housing prices are average
Eaton ranks 50 out of 83 counties in Michigan and 1,640 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Eaton, MI is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Eaton below.
Conforming loan limits for Eaton, MI
FHA loan limits for Eaton, MI
VA loan limits for Eaton, MI
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