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.
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%
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
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
FHA loan limits for Bakersfield, CA
VA loan limits for Bakersfield, CA