Compare mortgage rates and fees for leading lenders in Los Angeles, 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 Los Angeles.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Los Angeles. Plus, shopping lenders is free and there is no obligation.
July 6, 2020
The current average rate for a 30 year fixed rate mortgage in Los Angeles 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 Los Angeles. Understand how much you need to earn to afford a home in Los Angeles, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Los Angeles 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 Los Angeles is right for you.
The median home value for Los Angeles, CA is $679,023
Based on current mortgage rates and a 10% down payment, you need to make $122,207 per year to buy the median priced home in Los Angeles
With this income, you could qualify for a $611,121 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 Los Angeles is $2,830
The median household income for Los Angeles, CA is $64,349
Based on this income, you can afford a home valued at approximately $357,546
The home price you can afford to buy based on household income in Los Angeles is 53% of the median home value which means housing prices are very expensive. Los Angeles ranks 55 out of 58 counties in California and 3,135 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Los Angeles, CA is very expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Los Angeles below.
Conforming loan limits for Los Angeles, CA
FHA loan limits for Los Angeles, CA
VA loan limits for Los Angeles, CA