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Bakersfield

Current Mortgage Rates in Bakersfield, California

Compare mortgage rates and fees for leading lenders in Bakersfield, CA. 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 Bakersfield.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Bakersfield. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Bakersfield, CA as of April 2, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Bakersfield, CA Mortgage Rates Compare?

April 2, 2020

The current average rate for a 30 year fixed rate mortgage in Bakersfield 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%

Mortgage Program
Today's
Bakersfield, CA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Bakersfield, California?

Below we provide helpful information on the real estate market, home prices and housing affordability in Bakersfield. Understand how much you need to earn to afford a home in Bakersfield, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Bakersfield 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 Bakersfield is right for you.

The median home value for Bakersfield, CA (Kern County) is $235,031

Based on current mortgage rates and a 10% down payment, you need to make $42,300 per year to buy the median priced home in Bakersfield

With this income, you could qualify for a $211,528 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 Bakersfield is $980

The median household income for Bakersfield, CA (Kern County) is $53,603

Based on this income, you can afford a home valued at approximately $297,838

The home price you can afford to buy based on household income in Bakersfield is 127% of the median home value which means housing prices are average. Bakersfield (Kern County) ranks 4 out of 58 counties in California and 2,801 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Bakersfield, CA is average

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Loan Limits for Bakersfield, California

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Bakersfield (Kern County) below.

Conforming loan limits for Bakersfield, CA

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Bakersfield, CA

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Bakersfield, CA

1 unit: $510,400

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