Compare mortgage rates and fees for leading lenders in El Centro, 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 El Centro.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in El Centro. Plus, shopping lenders is free and there is no obligation.
September 19, 2020
The current average rate for a 30 year fixed rate mortgage in El Centro 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 El Centro. Understand how much you need to earn to afford a home in El Centro, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in El Centro 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 El Centro is right for you.
The median home value for El Centro, CA (Imperial County) is $232,073
Based on current mortgage rates and a 10% down payment, you need to make $41,767 per year to buy the median priced home in El Centro
With this income, you could qualify for a $208,866 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 El Centro is $967
The median household income for El Centro, CA (Imperial County) is $47,226
Based on this income, you can afford a home valued at approximately $262,403
The home price you can afford to buy based on household income in El Centro is 113% of the median home value which means housing prices are average. El Centro (Imperial County) ranks 9 out of 58 counties in California and 2,906 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in El Centro, CA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for El Centro (Imperial County) below.
Conforming loan limits for El Centro, CA
FHA loan limits for El Centro, CA
VA loan limits for El Centro, CA