Compare mortgage rates and fees for leading lenders in Saginaw, 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 Saginaw.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Saginaw. Plus, shopping lenders is free and there is no obligation.
December 16, 2019
The current average rate for a 30 year fixed rate mortgage in Saginaw 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 Saginaw, MI is $110,767
The median household income for Saginaw, MI is $46,411
Based on current mortgage rates and a 10% down payment, you need to make $20,551 per year to buy the median priced home in Saginaw
The home price you can afford to buy based on household income in Saginaw is 226% of the median home value which means housing prices are affordable
Saginaw ranks 26 out of 83 counties in Michigan and 1,077 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Saginaw, MI is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Saginaw below.
Conforming loan limits for Saginaw, MI
FHA loan limits for Saginaw, MI
VA loan limits for Saginaw, 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