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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 September 29, 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 Aberdeen, SD Mortgage Rates Compare?

September 29, 2020

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%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Aberdeen, South Dakota?

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

The median home value for Aberdeen, SD (Brown County) is $169,362

Based on current mortgage rates and a 10% down payment, you need to make $30,481 per year to buy the median priced home in Aberdeen

With this income, you could qualify for a $152,426 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 Aberdeen is $706

The median household income for Aberdeen, SD (Brown County) is $56,747

Based on this income, you can afford a home valued at approximately $315,307

The home price you can afford to buy based on household income in Aberdeen is 186% of the median home value which means housing prices are average. Aberdeen (Brown County) ranks 56 out of 66 counties in South Dakota and 1,838 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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Aberdeen, SD

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

VA loan limits for Aberdeen, SD

1 unit: $510,400

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