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Modesto

Current Mortgage Rates in Modesto, California

Compare mortgage rates and fees for leading lenders in Modesto, 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 Modesto.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Modesto. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Modesto, CA as of August 18, 2019
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Modesto, CA Mortgage Rates Compare?

August 18, 2019

The current average rate for a 30 year fixed rate mortgage in Modesto 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%

Mortgage Program
Today's
Modesto, CA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Modesto, California?

The median home value for Modesto, CA (Stanislaus County) is $324,513

The median household income for Modesto, CA (Stanislaus County) is $55,919

Based on current mortgage rates and a 10% down payment, you need to make $60,207 per year to buy the median priced home in Modesto

The home price you can afford to by based on household income in Modesto is 93% of the median home value which means housing prices are expensive

Modesto (Stanislaus County) ranks 27 out of 58 counties in California and 3,037 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

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Loan Limits for Modesto, California

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

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Modesto, CA

1 unit: $350,750
2 units: $449,000
3 units: $542,750
4 units: $674,500

VA loan limits for Modesto, CA

1 unit: $484,350

Additional Mortgage Resources for Modesto, CA Residents

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Sources

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