Compare Albemarle, VA mortgage rates and fees from top lenders. 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 lowest 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.
June 25, 2022
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 $488,012
Based on current mortgage rates and a 10% down payment, you need to make $79,959 per year to buy the median priced home in Albemarle
With this income, you could qualify for a $439,211 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 $1,852
The median household income for Albemarle, VA is $93,386
Based on this income, you can afford a home valued at approximately $569,964
The home price you can afford to buy based on household income in Albemarle is 117% of the median home value which means housing prices are average. Albemarle ranks 121 out of 133 counties in Virginia and 2,917 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
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
FHA loan limits for Albemarle, VA
VA loan limits for Albemarle, VA