Compare mortgage rates and fees for leading lenders in Nevada City, 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 Nevada City.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Nevada City. Plus, shopping lenders is free and there is no obligation.
October 23, 2019
The current average rate for a 30 year fixed rate mortgage in Nevada City 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%
The median home value for Nevada City, CA (Nevada County) is $479,608
The median household income for Nevada City, CA (Nevada County) is $62,463
Based on current mortgage rates and a 10% down payment, you need to make $88,982 per year to buy the median priced home in Nevada City
The home price you can afford to buy based on household income in Nevada City is 70% of the median home value which means housing prices are very expensive
Nevada City (Nevada County) ranks 40 out of 58 counties in California and 3,106 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Nevada City, 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 Nevada City (Nevada County) below.
Conforming loan limits for Nevada City, CA
FHA loan limits for Nevada City, CA
VA loan limits for Nevada City, CA
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