Mortgage Rates in Collinsville, Alabama — March 2026
Updated March 2026 | Based on Collinsville market data and regional lending conditions
Collinsville is a smaller Alabama community of 36,361 where home prices remain well below the national median, making homeownership more attainable. The current 30-year fixed rate here is 6.77% (0.12% above the national average). At a median home price of $197,500, the estimated $1,094/month payment (with 20% down) is affordable on the local median income of $60,000.
Current Mortgage Rates in Collinsville, AL
Below are the current average mortgage rates available in the Collinsville 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 | 6.77% | 6.65% | +0.12% |
| 15-Year Fixed | 6% | 5.89% | +0.11% |
| 5/1 ARM | 6.26% | 6.15% | +0.11% |
| FHA | 6.51% | 6.25% | +0.26% |
| VA | 6.26% | 6.05% | +0.21% |
| Jumbo | 7.02% | 6.85% | +0.17% |
Collinsville Housing Market Overview
At $197,500, Collinsville offers more affordable housing than most U.S. metros. The local cost of living index is 100.2 (100 = national average), and the median household income of $60,000 provides comfortable purchasing power in this market.
Monthly Payment Breakdown for Collinsville
Based on the median home price of $197,500 with 20% down ($39,500), here is what you can expect to pay monthly in Collinsville:
15-Year vs. 30-Year Mortgage in Collinsville
Choosing a 15-year mortgage in Collinsville at 6% instead of a 30-year at 6.77% would save you $129,780 in total interest over the life of the loan. However, your monthly payment would be $1,333 instead of $1,027 — an increase of $306 per month.
Calculate Your Collinsville Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Collinsville
What are the current mortgage rates in Collinsville, AL?
As of March 2026, the average 30-year fixed mortgage rate in Collinsville, Alabama is 6.77%, while the 15-year fixed rate is 6%. FHA loans average 6.51% and VA loans 6.26%. These rates are 0.12% above the national average of 6.65%.
How much is a monthly mortgage payment in Collinsville?
Based on the median home price of $197,500 with 20% down, the estimated monthly mortgage payment in Collinsville is $1,027 for principal and interest. Including property taxes of $67/month, the total monthly housing cost is approximately $1,094.
What income do I need to buy a home in Collinsville?
Using the 28% rule, you would need an annual income of approximately $46,886 to afford the median-priced home in Collinsville at $197,500. The median household income in Collinsville is $60,000. The median income is currently sufficient to meet this threshold.
Is Collinsville a good place to buy a home in 2026?
Collinsville has a moderate cost of living with a cost of living index of 100.2 (national average = 100). The property tax rate in Alabama is 0.41%, which is below the national average. Collinsville has a population of 36,361 and offers a balanced 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 Collinsville, Alabama area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.