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.
April 3, 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%
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
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
FHA loan limits for Hampton, VA
VA loan limits for Hampton, VA