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Warren

Current Mortgage Rates in Warren, Michigan

Compare mortgage rates and fees for leading lenders in Warren, 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 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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Mortgage Rates in Warren, MI as of October 23, 2019
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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.

How Do Today's Warren, MI Mortgage Rates Compare?

October 23, 2019

The current average rate for a 30 year fixed rate mortgage in Warren 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
Warren, MI Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Warren, Michigan?

The median home value for Warren, MI (Oakland County) is $266,717

The median household income for Warren, MI (Oakland County) is $75,612

Based on current mortgage rates and a 10% down payment, you need to make $49,484 per year to buy the median priced home in Warren

The home price you can afford to buy based on household income in Warren is 153% of the median home value which means housing prices are average

Warren (Oakland County) ranks 81 out of 83 counties in Michigan and 2,502 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: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Warren, MI

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Warren, MI

1 unit: $484,350

Additional Mortgage Resources for Warren, MI Residents

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Warren Mortgage Rates

Sources

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