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Lawton

Current Mortgage Rates in Lawton, Oklahoma

Compare mortgage rates and fees for leading lenders in Lawton, OK. 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 Lawton.

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

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Mortgage Rates in Lawton, OK as of April 2, 2020
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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.
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How Do Today's Lawton, OK Mortgage Rates Compare?

April 2, 2020

The current average rate for a 30 year fixed rate mortgage in Lawton 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
Lawton, OK 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 Lawton, Oklahoma?

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

The median home value for Lawton, OK (Comanche County) is $155,707

Based on current mortgage rates and a 10% down payment, you need to make $28,023 per year to buy the median priced home in Lawton

With this income, you could qualify for a $140,136 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 Lawton is $649

The median household income for Lawton, OK (Comanche County) is $52,278

Based on this income, you can afford a home valued at approximately $290,472

The home price you can afford to buy based on household income in Lawton is 187% of the median home value which means housing prices are average. Lawton (Comanche County) ranks 72 out of 77 counties in Oklahoma and 1,829 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Lawton, OK is average

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Loan Limits for Lawton, Oklahoma

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

Conforming loan limits for Lawton, OK

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

FHA loan limits for Lawton, OK

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

VA loan limits for Lawton, OK

1 unit: $510,400

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