Compare mortgage rates and fees for leading lenders in Richmond, 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 Richmond.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Richmond. Plus, shopping lenders is free and there is no obligation.
August 19, 2019
The current average rate for a 30 year fixed rate mortgage in Richmond 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 Richmond, CA (Contra Costa County) is $716,807
The median household income for Richmond, CA (Contra Costa County) is $91,160
Based on current mortgage rates and a 10% down payment, you need to make $132,990 per year to buy the median priced home in Richmond
The home price you can afford to by based on household income in Richmond is 69% of the median home value which means housing prices are very expensive
Richmond (Contra Costa 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 Richmond, 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 Richmond (Contra Costa County) below.
Conforming loan limits for Richmond, CA
FHA loan limits for Richmond, CA
VA loan limits for Richmond, 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