Compare mortgage rates and fees for leading lenders in Oakland, 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 Oakland.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Oakland. Plus, shopping lenders is free and there is no obligation.
December 15, 2019
The current average rate for a 30 year fixed rate mortgage in Oakland 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 Oakland, CA (Alameda County) is $871,596
The median household income for Oakland, CA (Alameda County) is $88,364
Based on current mortgage rates and a 10% down payment, you need to make $161,709 per year to buy the median priced home in Oakland
The home price you can afford to buy based on household income in Oakland is 55% of the median home value which means housing prices are very expensive
Oakland (Alameda County) ranks 52 out of 58 counties in California and 3,132 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Oakland, 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 Oakland (Alameda County) below.
Conforming loan limits for Oakland, CA
FHA loan limits for Oakland, CA
VA loan limits for Oakland, 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