Compare mortgage rates and fees for leading lenders in Southaven, MS. 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 Southaven.
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October 23, 2019
The current average rate for a 30 year fixed rate mortgage in Southaven 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 Southaven, MS (DeSoto County) is $176,748
The median household income for Southaven, MS (DeSoto County) is $64,509
Based on current mortgage rates and a 10% down payment, you need to make $32,792 per year to buy the median priced home in Southaven
The home price you can afford to buy based on household income in Southaven is 197% of the median home value which means housing prices are average
Southaven (DeSoto County) ranks 60 out of 82 counties in Mississippi and 1,659 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Southaven, MS is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Southaven (DeSoto County) below.
Conforming loan limits for Southaven, MS
FHA loan limits for Southaven, MS
VA loan limits for Southaven, MS
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