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.
September 22, 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%
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
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
FHA loan limits for Aberdeen, SD
VA loan limits for Aberdeen, SD
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