Compare mortgage rates and fees for leading lenders in Murfreesboro, TN. 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 Murfreesboro.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Murfreesboro. Plus, shopping lenders is free and there is no obligation.
August 11, 2020
The current average rate for a 30 year fixed rate mortgage in Murfreesboro 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Murfreesboro. Understand how much you need to earn to afford a home in Murfreesboro, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Murfreesboro 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 Murfreesboro is right for you.
The median home value for Murfreesboro, TN (Rutherford County) is $260,489
Based on current mortgage rates and a 10% down payment, you need to make $46,881 per year to buy the median priced home in Murfreesboro
With this income, you could qualify for a $234,440 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 Murfreesboro is $1,086
The median household income for Murfreesboro, TN (Rutherford County) is $65,545
Based on this income, you can afford a home valued at approximately $364,191
The home price you can afford to buy based on household income in Murfreesboro is 140% of the median home value which means housing prices are average. Murfreesboro (Rutherford County) ranks 87 out of 95 counties in Tennessee and 2,672 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Murfreesboro, TN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Murfreesboro (Rutherford County) below.
Conforming loan limits for Murfreesboro, TN
FHA loan limits for Murfreesboro, TN
VA loan limits for Murfreesboro, TN