Compare mortgage rates and fees for leading lenders in Blacksburg, 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 Blacksburg.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Blacksburg. Plus, shopping lenders is free and there is no obligation.
September 30, 2020
The current average rate for a 30 year fixed rate mortgage in Blacksburg 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 Blacksburg. Understand how much you need to earn to afford a home in Blacksburg, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Blacksburg 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 Blacksburg is right for you.
The median home value for Blacksburg, VA (Montgomery County) is $266,979
Based on current mortgage rates and a 10% down payment, you need to make $48,049 per year to buy the median priced home in Blacksburg
With this income, you could qualify for a $240,281 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 Blacksburg is $1,113
The median household income for Blacksburg, VA (Montgomery County) is $56,343
Based on this income, you can afford a home valued at approximately $313,063
The home price you can afford to buy based on household income in Blacksburg is 117% of the median home value which means housing prices are average. Blacksburg (Montgomery County) ranks 115 out of 133 counties in Virginia and 2,873 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Blacksburg, VA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Blacksburg (Montgomery County) below.
Conforming loan limits for Blacksburg, VA
FHA loan limits for Blacksburg, VA
VA loan limits for Blacksburg, VA