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Warren

Compare Current Warren, Michigan Mortgage Rates

Compare Warren, 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 Warren.

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

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Warren, MI Mortgage Rates as of January 25, 2022
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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.
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How Do Today's Warren, MI Mortgage Rates Compare?

January 25, 2022

Current mortgage rates in Warren, 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
Warren, MI Rates
National
Average
Comparison
30 Year Fixed Rate
%
3.560%
15 Year Fixed Rate
%
2.790%
5/1 Adjustable Rate Mortgage
%
2.600%

How Affordable is Housing in Warren, Michigan?

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

The median home value for Warren, MI (Oakland County) is $319,561

Based on current mortgage rates and a 10% down payment, you need to make $52,359 per year to buy the median priced home in Warren

With this income, you could qualify for a $287,605 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 Warren is $1,213

The median household income for Warren, MI (Oakland County) is $87,756

Based on this income, you can afford a home valued at approximately $535,601

The home price you can afford to buy based on household income in Warren is 168% of the median home value which means housing prices are average. Warren (Oakland County) ranks 79 out of 83 counties in Michigan and 2,351 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Warren, Michigan

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

Conforming loan limits for Warren, MI

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

FHA loan limits for Warren, MI

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

VA loan limits for Warren, MI

1 unit: $647,200

Additional Mortgage Resources for Warren, MI Residents

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