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Modesto

Compare Current Modesto, California Mortgage Rates

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.

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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Modesto, CA Mortgage Rates as of October 14, 2024
FREEandCLEAR Exlusive Lender
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5.312% APR Rate: 5.125%
15 Yr Fixed15 Yr Fixed
Points: 1.50
Rate Lock: 30 days
NMLS: 357085  LICENSE: CA 00532825
Terms & Conditions
Ask about no closing cost options
APR
5.312%
Rate
5.125%
Points
1.50
Rate Lock
30 days
NMLS: 357085
LICENSE: CA 00532825

Terms & Conditions
Ask about no closing cost options
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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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.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Modesto, CA Mortgage Rates

October 14, 2024

Current mortgage rates in Modesto, CA are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Modesto, CA Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Modesto, California?

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 $423,415

Based on current mortgage rates and a 10% down payment, you need to make $88,331 per year to buy the median priced home in Modesto

With this income, you could qualify for a $381,074 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 $2,046

The median household income for Modesto, CA (Stanislaus County) is $75,062

Based on this income, you can afford a home valued at approximately $359,810

The home price you can afford to buy based on household income in Modesto is 85% of the median home value which means housing prices are expensive. Modesto (Stanislaus County) ranks 19 out of 58 counties in California and 2,956 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: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Modesto, CA

1 unit: $517,500
2 units: $662,500
3 units: $800,800
4 units: $995,200

VA loan limits for Modesto, CA

1 unit: $726,200

Additional Mortgage Resources for Modesto, CA Residents

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