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Oakland

Compare Current Oakland, California Mortgage Rates

Compare Oakland, 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 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.

%
Oakland, CA Mortgage Rates as of June 25, 2022
FREEandCLEAR Exlusive Lender
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4.461% APR Rate: 4.375%
15 Yr Fixed15 Yr Fixed
Points: .500
Rate Lock: 45 days
NMLS: 357085  LICENSE: CA 00532825
Terms & Conditions
Ask about no closing cost options
APR
4.461%
Rate
4.375%
Points
.500
Rate Lock
45 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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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Oakland, CA Mortgage Rates

June 25, 2022

Current mortgage rates in Oakland, 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
Oakland, CA Rates
National
Average
Comparison
30 Year Fixed Rate
%
5.780%
15 Year Fixed Rate
%
4.810%
5/1 Adjustable Rate Mortgage
%
4.330%

How Affordable is Housing in Oakland, California?

Below we provide helpful information on the real estate market, home prices and housing affordability in Oakland. Understand how much you need to earn to afford a home in Oakland, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Oakland 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 Oakland is right for you.

The median home value for Oakland, CA (Alameda County) is $1,036,468

Based on current mortgage rates and a 10% down payment, you need to make $169,821 per year to buy the median priced home in Oakland

With this income, you could qualify for a $932,821 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 Oakland is $3,933

The median household income for Oakland, CA (Alameda County) is $117,082

Based on this income, you can afford a home valued at approximately $714,587

The home price you can afford to buy based on household income in Oakland is 69% of the median home value which means housing prices are very expensive. Oakland (Alameda County) ranks 51 out of 58 counties in California and 3,122 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

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Loan Limits for Oakland, California

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

1 unit: $970,800
2 units: $1,243,050
3 units: $1,502,475
4 units: $1,867,275

FHA loan limits for Oakland, CA

1 unit: $970,800
2 units: $1,243,050
3 units: $1,502,475
4 units: $1,867,275

VA loan limits for Oakland, CA

1 unit: $970,800

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