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Grand Haven

Current Mortgage Rates in Grand Haven, Michigan

Compare mortgage rates and fees for leading lenders in Grand Haven, 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 Grand Haven.

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

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Mortgage Rates in Grand Haven, MI as of July 12, 2020
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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.
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How Do Today's Grand Haven, MI Mortgage Rates Compare?

July 12, 2020

The current average rate for a 30 year fixed rate mortgage in Grand Haven 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
Grand Haven, MI Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Grand Haven, Michigan?

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

The median home value for Grand Haven, MI (Ottawa County) is $217,696

Based on current mortgage rates and a 10% down payment, you need to make $39,180 per year to buy the median priced home in Grand Haven

With this income, you could qualify for a $195,926 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 Grand Haven is $907

The median household income for Grand Haven, MI (Ottawa County) is $67,457

Based on this income, you can afford a home valued at approximately $374,815

The home price you can afford to buy based on household income in Grand Haven is 172% of the median home value which means housing prices are average. Grand Haven (Ottawa County) ranks 70 out of 83 counties in Michigan and 2,128 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Grand Haven, MI is average

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Loan Limits for Grand Haven, Michigan

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

Conforming loan limits for Grand Haven, MI

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

FHA loan limits for Grand Haven, MI

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

VA loan limits for Grand Haven, MI

1 unit: $510,400

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