Compare mortgage rates and fees for leading lenders in Mendocino, 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 Mendocino.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Mendocino. Plus, shopping lenders is free and there is no obligation.
December 11, 2019
The current average rate for a 30 year fixed rate mortgage in Mendocino 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%
The median home value for Mendocino, CA is $449,660
The median household income for Mendocino, CA is $47,950
Based on current mortgage rates and a 10% down payment, you need to make $83,426 per year to buy the median priced home in Mendocino
The home price you can afford to buy based on household income in Mendocino is 57% of the median home value which means housing prices are very expensive
Mendocino ranks 51 out of 58 counties in California and 3,128 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Mendocino, 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 Mendocino below.
Conforming loan limits for Mendocino, CA
FHA loan limits for Mendocino, CA
VA loan limits for Mendocino, CA
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index