Current Mortgage Rates in Hampton, Virginia

Compare mortgage rates and fees for leading lenders in Hampton, 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 Hampton.

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

Mortgage Rates in Hampton, VA as of August 13, 2020
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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.


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

August 13, 2020

The current average rate for a 30 year fixed rate mortgage in Hampton 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
Hampton, VA Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Hampton, Virginia?

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

The median home value for Hampton, VA is $201,037

Based on current mortgage rates and a 10% down payment, you need to make $36,181 per year to buy the median priced home in Hampton

With this income, you could qualify for a $180,933 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 Hampton is $838

The median household income for Hampton, VA is $54,863

Based on this income, you can afford a home valued at approximately $304,841

The home price you can afford to buy based on household income in Hampton is 152% of the median home value which means housing prices are average. Hampton ranks 76 out of 133 counties in Virginia and 2,508 out of 3,142 counties in the United States for housing affordability.

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


Loan Limits for Hampton, Virginia

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

Conforming loan limits for Hampton, VA

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

FHA loan limits for Hampton, VA

1 unit: $458,850
2 units: $587,400
3 units: $710,050
4 units: $882,400

VA loan limits for Hampton, VA

1 unit: $510,400

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