»
»
Albemarle

Current Mortgage Rates in Albemarle, Virginia

Compare mortgage rates and fees for leading lenders in Albemarle, VA. 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 Albemarle.

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

%
Mortgage Rates in Albemarle, VA as of February 20, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
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.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

How Do Today's Albemarle, VA Mortgage Rates Compare?

February 20, 2020

The current average rate for a 30 year fixed rate mortgage in Albemarle 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
Albemarle, VA 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 Albemarle, Virginia?

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

The median home value for Albemarle, VA is $367,130

Based on current mortgage rates and a 10% down payment, you need to make $66,074 per year to buy the median priced home in Albemarle

With this income, you could qualify for a $330,417 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 Albemarle is $1,530

The median household income for Albemarle, VA is $76,214

Based on this income, you can afford a home valued at approximately $423,470

The home price you can afford to buy based on household income in Albemarle is 115% of the median home value which means housing prices are average. Albemarle ranks 117 out of 133 counties in Virginia and 2,888 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Albemarle, VA is average

orange-simple-house
ruler

Loan Limits for Albemarle, Virginia

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Albemarle below.

Conforming loan limits for Albemarle, VA

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

FHA loan limits for Albemarle, VA

1 unit: $437,000
2 units: $559,450
3 units: $676,200
4 units: $840,400

VA loan limits for Albemarle, VA

1 unit: $510,400

Additional Mortgage Resources for Albemarle, VA Residents

Mortgage Rates for Virginia Cities

Albemarle Mortgage Rates

Alexandria Mortgage Rates

Arlington Mortgage Rates

Blacksburg Mortgage Rates

Chesapeake Mortgage Rates

Chester Mortgage Rates

Fairfax Mortgage Rates

Hampton Mortgage Rates

Hanover Mortgage Rates

Leesburg Mortgage Rates

Newport News Mortgage Rates

Norfolk Mortgage Rates

Portsmouth Mortgage Rates

Prince William Mortgage Rates

Richmond city Mortgage Rates

Roanoke city Mortgage Rates

Spotsylvania Mortgage Rates

Stafford Mortgage Rates

Tuckahoe Mortgage Rates

Virginia Beach Mortgage Rates