Compare Modesto, 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 Modesto.
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December 1, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Modesto. Understand how much you need to earn to afford a home in Modesto, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Modesto 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 Modesto is right for you.
The median home value for Modesto, CA (Stanislaus County) is $438,368
Based on current mortgage rates and a 10% down payment, you need to make $71,825 per year to buy the median priced home in Modesto
With this income, you could qualify for a $394,531 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 Modesto is $1,663
The median household income for Modesto, CA (Stanislaus County) is $68,135
Based on this income, you can afford a home valued at approximately $415,847
The home price you can afford to buy based on household income in Modesto is 95% of the median home value which means housing prices are expensive. Modesto (Stanislaus County) ranks 31 out of 58 counties in California and 3,051 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Modesto, CA is expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Modesto (Stanislaus County) below.
Conforming loan limits for Modesto, CA
FHA loan limits for Modesto, CA
VA loan limits for Modesto, CA