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Eaton

Compare Current Eaton, Michigan Mortgage Rates

Compare Eaton, 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 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.

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Eaton, MI Mortgage Rates as of May 26, 2022
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Data provided by Icanbuy, LLC. 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 Eaton, MI Mortgage Rates

May 26, 2022

Current mortgage rates in Eaton, 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
Eaton, MI Rates
National
Average
Comparison
30 Year Fixed Rate
%
5.250%
15 Year Fixed Rate
%
4.430%
5/1 Adjustable Rate Mortgage
%
4.080%

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 $208,637

Based on current mortgage rates and a 10% down payment, you need to make $34,184 per year to buy the median priced home in Eaton

With this income, you could qualify for a $187,773 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 $792

The median household income for Eaton, MI is $70,699

Based on this income, you can afford a home valued at approximately $431,495

The home price you can afford to buy based on household income in Eaton is 207% of the median home value which means housing prices are affordable. Eaton ranks 51 out of 83 counties in Michigan and 1,590 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 affordable

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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: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Eaton, MI

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

VA loan limits for Eaton, MI

1 unit: $647,200

Additional Mortgage Resources for Eaton, MI Residents

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