Compare Spotsylvania, 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 Spotsylvania.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Spotsylvania. Plus, shopping lenders is free and there is no obligation.
January 22, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Spotsylvania. Understand how much you need to earn to afford a home in Spotsylvania, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Spotsylvania 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 Spotsylvania is right for you.
The median home value for Spotsylvania, VA is $341,368
Based on current mortgage rates and a 10% down payment, you need to make $55,932 per year to buy the median priced home in Spotsylvania
With this income, you could qualify for a $307,231 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 Spotsylvania is $1,295
The median household income for Spotsylvania, VA is $95,796
Based on this income, you can afford a home valued at approximately $584,668
The home price you can afford to buy based on household income in Spotsylvania is 171% of the median home value which means housing prices are average. Spotsylvania ranks 51 out of 133 counties in Virginia and 2,281 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Spotsylvania, VA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Spotsylvania below.
Conforming loan limits for Spotsylvania, VA
FHA loan limits for Spotsylvania, VA
VA loan limits for Spotsylvania, VA