Compare Madera, CA mortgage rates and fees from top lenders. 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 lowest mortgage rates in Madera.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Madera. Plus, shopping lenders is free and there is no obligation.
May 23, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Madera. Understand how much you need to earn to afford a home in Madera, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Madera 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 Madera is right for you.
The median home value for Madera, CA is $377,790
Based on current mortgage rates and a 10% down payment, you need to make $61,899 per year to buy the median priced home in Madera
With this income, you could qualify for a $340,011 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 Madera is $1,433
The median household income for Madera, CA is $70,070
Based on this income, you can afford a home valued at approximately $427,656
The home price you can afford to buy based on household income in Madera is 113% of the median home value which means housing prices are average. Madera ranks 14 out of 58 counties in California and 2,947 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Madera, CA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Madera below.
Conforming loan limits for Madera, CA
FHA loan limits for Madera, CA
VA loan limits for Madera, CA