Compare mortgage rates and fees for leading lenders in Anoka, MN. 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 Anoka.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Anoka. Plus, shopping lenders is free and there is no obligation.
December 11, 2019
The current average rate for a 30 year fixed rate mortgage in Anoka 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 Anoka, MN is $244,844
The median household income for Anoka, MN is $79,144
Based on current mortgage rates and a 10% down payment, you need to make $45,426 per year to buy the median priced home in Anoka
The home price you can afford to buy based on household income in Anoka is 174% of the median home value which means housing prices are average
Anoka ranks 63 out of 87 counties in Minnesota and 2,110 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Anoka, MN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Anoka below.
Conforming loan limits for Anoka, MN
FHA loan limits for Anoka, MN
VA loan limits for Anoka, MN
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