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Aberdeen

Current Mortgage Rates in Aberdeen, South Dakota

Compare mortgage rates and fees for leading lenders in Aberdeen, SD. 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 Aberdeen.

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

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Mortgage Rates in Aberdeen, SD as of November 13, 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 Aberdeen, SD Mortgage Rates Compare?

November 13, 2019

The current average rate for a 30 year fixed rate mortgage in Aberdeen 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
Aberdeen, SD 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 Aberdeen, South Dakota?

The median home value for Aberdeen, SD (Brown County) is $162,380

The median household income for Aberdeen, SD (Brown County) is $55,452

Based on current mortgage rates and a 10% down payment, you need to make $30,127 per year to buy the median priced home in Aberdeen

The home price you can afford to buy based on household income in Aberdeen is 184% of the median home value which means housing prices are average

Aberdeen (Brown County) ranks 56 out of 66 counties in South Dakota and 1,898 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Aberdeen, SD is average

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Loan Limits for Aberdeen, South Dakota

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

Conforming loan limits for Aberdeen, SD

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Aberdeen, SD

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

VA loan limits for Aberdeen, SD

1 unit: $484,350

Additional Mortgage Resources for Aberdeen, SD Residents

Mortgage Rates for South Dakota Cities

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Sioux Falls 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