Current Mortgage Rates in Eaton, Michigan

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.

Mortgage Rates in Eaton, MI as of September 27, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Eaton, MI Mortgage Rates Compare?

September 27, 2020

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%

Mortgage Program
Eaton, MI Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Eaton, Michigan?

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

The median home value for Eaton, MI is $178,271

Based on current mortgage rates and a 10% down payment, you need to make $32,084 per year to buy the median priced home in Eaton

With this income, you could qualify for a $160,444 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 Eaton is $743

The median household income for Eaton, MI is $62,481

Based on this income, you can afford a home valued at approximately $347,168

The home price you can afford to buy based on household income in Eaton is 195% of the median home value which means housing prices are average. Eaton ranks 50 out of 83 counties in Michigan and 1,687 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


Loan Limits for Eaton, Michigan

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

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Eaton, MI

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Eaton, MI

1 unit: $510,400

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