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Tupelo

Current Mortgage Rates in Tupelo, Mississippi

Compare mortgage rates and fees for leading lenders in Tupelo, 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 Tupelo.

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

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Mortgage Rates in Tupelo, MS as of September 24, 2020
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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 Tupelo, MS Mortgage Rates Compare?

September 24, 2020

The current average rate for a 30 year fixed rate mortgage in Tupelo 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
Tupelo, MS Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Tupelo, Mississippi?

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

The median home value for Tupelo, MS (Lee County) is $143,900

Based on current mortgage rates and a 10% down payment, you need to make $25,898 per year to buy the median priced home in Tupelo

With this income, you could qualify for a $129,510 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 Tupelo is $600

The median household income for Tupelo, MS (Lee County) is $48,498

Based on this income, you can afford a home valued at approximately $269,470

The home price you can afford to buy based on household income in Tupelo is 187% of the median home value which means housing prices are average. Tupelo (Lee County) ranks 68 out of 82 counties in Mississippi and 1,819 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Tupelo, MS is average

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Loan Limits for Tupelo, Mississippi

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

Conforming loan limits for Tupelo, MS

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Tupelo, MS

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Tupelo, MS

1 unit: $510,400

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