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.
July 3, 2020
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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Nevada City. Understand how much you need to earn to afford a home in Nevada City, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Nevada City 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 Nevada City is right for you.
The median home value for Nevada City, CA (Nevada County) is $511,742
Based on current mortgage rates and a 10% down payment, you need to make $92,100 per year to buy the median priced home in Nevada City
With this income, you could qualify for a $460,568 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 Nevada City is $2,133
The median household income for Nevada City, CA (Nevada County) is $63,922
Based on this income, you can afford a home valued at approximately $355,172
The home price you can afford to buy based on household income in Nevada City is 69% of the median home value which means housing prices are very expensive. Nevada City (Nevada County) ranks 41 out of 58 counties in California and 3,107 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