Mortgage Rates in Enterprise, Alabama — March 2026
Updated March 2026 | Based on Enterprise market data and regional lending conditions
Enterprise is a growing city in Alabama with a population of 28,711. The current 30-year fixed mortgage rate in Enterprise is 6.71%, which is 0.06% above the national average. With a median home price of $185,000 and a 20% down payment of $37,000, homebuyers can expect a monthly principal and interest payment of approximately $956.
Current Mortgage Rates in Enterprise, AL
Below are the current average mortgage rates available in the Enterprise area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.71% | 6.65% | +0.06% |
| 15-Year Fixed | 5.95% | 5.89% | +0.06% |
| 5/1 ARM | 6.21% | 6.15% | +0.06% |
| FHA | 6.31% | 6.25% | +0.06% |
| VA | 6.11% | 6.05% | +0.06% |
| Jumbo | 6.91% | 6.85% | +0.06% |
Enterprise Housing Market Overview
The Enterprise housing market offers relatively affordable housing compared to many major cities. The median household income in Enterprise is $42,000, and the cost of living index is 82 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $43,886 to comfortably afford the median-priced home in Enterprise, which exceeds the current median household income.
Monthly Payment Breakdown for Enterprise
Based on the median home price of $185,000 with 20% down ($37,000), here is what you can expect to pay monthly in Enterprise:
15-Year vs. 30-Year Mortgage in Enterprise
Choosing a 15-year mortgage in Enterprise at 5.95% instead of a 30-year at 6.71% would save you $120,060 in total interest over the life of the loan. However, your monthly payment would be $1,245 instead of $956 — an increase of $289 per month.
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Open Free CalculatorFrequently Asked Questions About Mortgages in Enterprise
What are the current mortgage rates in Enterprise, AL?
As of March 2026, the average 30-year fixed mortgage rate in Enterprise, Alabama is 6.71%, while the 15-year fixed rate is 5.95%. FHA loans average 6.31% and VA loans 6.11%. These rates are 0.06% above the national average of 6.65%.
How much is a monthly mortgage payment in Enterprise?
Based on the median home price of $185,000 with 20% down, the estimated monthly mortgage payment in Enterprise is $956 for principal and interest. Including property taxes of $68/month, the total monthly housing cost is approximately $1,024.
What income do I need to buy a home in Enterprise?
Using the 28% rule, you would need an annual income of approximately $43,886 to afford the median-priced home in Enterprise at $185,000. The median household income in Enterprise is $42,000. This means most households would need to either earn above the median or consider homes below $185,000.
Is Enterprise a good place to buy a home in 2026?
Enterprise offers a below-average cost of living with a cost of living index of 82 (national average = 100). The property tax rate in Alabama is 0.44%, which is below the national average. Enterprise has a population of 28,711 and offers a very affordable lifestyle.
Mortgage Rates in Other Alabama Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Enterprise, Alabama area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.