What are current fha rates in Alpena County?

Today's fha rates in Alpena County start at 7.195% for qualified borrowers. Rates are updated daily using live investor pricing data from Safe Rate's pricing engine.

FHA Mortgage Rates — who qualifies in Alpena County?

FHA loans require just 3.5% down with credit scores as low as 580. Government-backed and flexible — see today's FHA rates.

What are current mortgage rates in Alpena County?

As of today, a standard conventional rate in Alpena County is 7.195% (APR 7.229%) for a 30-year fixed loan. This assumes a 20% down payment and a 740+ credit score. Rates are updated daily using Safe Rate's live pricing engine.

How much does a home cost in Alpena County?

The average home value in Alpena County is $204,308, with +28.6% appreciation over the past two years. At a 3.8x price-to-income ratio, affordability remains reasonable compared to many U.S. markets.

What is the typical monthly mortgage payment in Alpena County?

Based on the average home value with a standard conventional loan, the estimated principal and interest payment is $1,051/mo. Total PITI costs will also include property taxes ($1,663/yr locally), homeowners insurance (est. $40/mo), and any applicable mortgage insurance.

How do I qualify for a mortgage?

Conventional loans typically require a 620+ credit score and 3–20% down. With 20% down you avoid PMI. FHA loans are available with as little as 3.5% down and a 580+ credit score. VA loans offer 0% down for eligible veterans. Requirements vary by loan program. Contact a licensed loan officer for guidance specific to your situation.

How are these mortgage rates calculated?

Safe Rate's pricing engine ingests live investor rate sheets daily and calculates the best available rate for each scenario based on Alpena County's median home value, local loan limits, and FHFA market data. Rates shown represent the most competitive offer available for each scenario, not a rate lock or commitment.

Safe Rate Local

Mortgage Rates in Alpena County, MI

7.195%APR 7.229% · $1,051/mo (20% Down)

Updated daily · May 22, 2026+0.231% (14d)

Safe Rate Choice20% Down Conv.

← Back to Alpena County Hub

14-Day Rate Trend

↑ +0.231%

LO 6.941%HI 7.195%TODAY 7.195%

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FHA Loan Details for Alpena County

2025 HUD guidelines · Computed from local median home value

✅

FHA eligible · Est. loan amount $186,797 is within the standard limit

2025 FHA loan limit for this area: approx. $524,225 (national floor) · Verify exact limit on HUD.gov ↗

Min. Down Payment

$7,151

3.5% of purchase price

Upfront MIP (UFMIP)

$3,269

1.75% · financed into loan

Monthly MIP

$86/mo

0.55%/yr · added to payment

MIP Duration

<10% down

Life of loan · 11 yrs if ≥10%

• Minimum credit score: 580 for 3.5% down · 500–579 requires 10% down
• Debt-to-income ratio: typically up to 57% with compensating factors
• UFMIP can be financed into the loan — no cash required at closing for this fee
• Annual MIP rate shown is 0.55% for a 30-yr loan with LTV >90%. Rate varies by term and LTV.

Product	Key Attributes	Rate / APR ↑	Mo. Payment ↕	Points
FHA 3.5% Down FHA purchase, 3.5% down +$86/mo MI	3.5% Down680 FICO30-yr	6.371% 7.143% APR	$1,185 Principal & Interest	$0 Points
Lower Credit FHA FHA for buyers with lower credit scores +$86/mo MI	3.5% Down580 FICO30-yr	6.379% 7.151% APR	$1,186 Principal & Interest	$0 Points
HomeReady Fannie Mae HomeReady, low-income buyers +$110/mo MI	3% Down660 FICO30-yr	6.856% 7.229% APR	$1,231 Principal & Interest	$0 Points
10% Down Conv. Conventional purchase, 10% down +$116/mo MI	10% Down720 FICO30-yr	6.917% 7.075% APR	$1,149 Principal & Interest	$0 Points
5% Down Conv. Conventional, avg credit, 5% down +$123/mo MI	5% Down700 FICO30-yr	7.254% 7.736% APR	$1,255 Principal & Interest	$0 Points

Mortgage Rates in Alpena County: Local Market Snapshot

Median Home Value

$204,308

2-Yr Appreciation

28.6%

increase

Median Income

$53,264

household

Price-to-Income

3.8x

within reach

Rates updated daily via Safe Rate's pricing engine using live investor rate sheets, calibrated to Alpena County's local loan limits and FHFA market data. Your actual rate depends on credit score, down payment, and lender.

Frequently Asked Questions

Market Snapshot

FIPS 26007

Average Home Value: $204,308
Average Rent: $751/mo
Average Income: $53,264
Property Tax: $1,663/yr
Avg Loan: $155,438
Avg LTV: 80.3%

Estimated Insurance

Homeowners Insurance

HO-3 policy · covers dwelling, property & liability

$40/mo

Flood Insurance$18/mo

Risk TierLow

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Rates are representative estimates using base pricing sourced from national wholesale lenders. Safe Rate Mortgage is a broker driven platform. Estimated rates incorporate 1.40% lender paid compensation (minimum $2,000, maximum $4,000). At initial launch, no compensation occurs. Demographic and housing data sourced from public HUD and FHFA datasets.