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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 January 22, 2020
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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.
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How Do Today's Modesto, CA Mortgage Rates Compare?

January 22, 2020

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%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

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 $343,010

Based on current mortgage rates and a 10% down payment, you need to make $61,733 per year to buy the median priced home in Modesto

With this income, you could qualify for a $308,709 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 $1,430

The median household income for Modesto, CA (Stanislaus County) is $57,225

Based on this income, you can afford a home valued at approximately $317,962

The home price you can afford to buy based on household income in Modesto is 93% of the median home value which means housing prices are expensive. Modesto (Stanislaus County) ranks 26 out of 58 counties in California and 3,029 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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Modesto, CA

1 unit: $365,700
2 units: $468,150
3 units: $565,900
4 units: $703,250

VA loan limits for Modesto, CA

1 unit: $510,400

Additional Mortgage Resources for Modesto, CA Residents

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