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.
September 20, 2020
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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Mendocino. Understand how much you need to earn to afford a home in Mendocino, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Mendocino 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 Mendocino is right for you.
The median home value for Mendocino, CA is $479,788
Based on current mortgage rates and a 10% down payment, you need to make $86,349 per year to buy the median priced home in Mendocino
With this income, you could qualify for a $431,809 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 Mendocino is $2,000
The median household income for Mendocino, CA is $49,070
Based on this income, you can afford a home valued at approximately $272,652
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 3,129 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