Current Mortgage Rates in Howell, Michigan

Compare mortgage rates and fees for leading lenders in Howell, 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 Howell.

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

Mortgage Rates in Howell, MI as of September 26, 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 Howell, MI Mortgage Rates Compare?

September 26, 2020

The current average rate for a 30 year fixed rate mortgage in Howell 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
Howell, MI Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Howell, Michigan?

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

The median home value for Howell, MI (Livingston County) is $287,633

Based on current mortgage rates and a 10% down payment, you need to make $51,766 per year to buy the median priced home in Howell

With this income, you could qualify for a $258,869 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 Howell is $1,199

The median household income for Howell, MI (Livingston County) is $82,716

Based on this income, you can afford a home valued at approximately $459,597

The home price you can afford to buy based on household income in Howell is 160% of the median home value which means housing prices are average. Howell (Livingston County) ranks 77 out of 83 counties in Michigan and 2,360 out of 3,142 counties in the United States for housing affordability.

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


Loan Limits for Howell, Michigan

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

Conforming loan limits for Howell, MI

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

FHA loan limits for Howell, MI

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

VA loan limits for Howell, MI

1 unit: $510,400

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