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Richmond

Current Mortgage Rates in Richmond, California

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.

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Mortgage Rates in Richmond, CA as of September 30, 2020

FREEandCLEAR Exlusive Lender

Low Rates
No Bait & Switch
Online App
2.622% APR Rate: 2.500%
30 Yr Fixed30 Yr Fixed
Points: 1.0
Rate Lock: 60 days
NMLS: 357085  LICENSE: CA 00532825
Terms & Conditions
Ask about no closing cost options
APR
2.622%
Rate
2.500%
Points
1.0
Rate Lock
60 days
NMLS: 357085
LICENSE: CA 00532825

Terms & Conditions
Ask about no closing cost options
Loan terms assume conforming mortgage amount, 80% LTV ratio and minimum borrower credit score of 740. Purchases and rate and term refinances only. $150,000 minimum mortgage amount. Borrower is responsible for $995 lender fee. Loan terms are subject to change without notice.
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Richmond, CA Mortgage Rates Compare?

September 30, 2020

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%

Mortgage Program
Today's
Richmond, CA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Richmond, California?

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

The median home value for Richmond, CA (Contra Costa County) is $738,311

Based on current mortgage rates and a 10% down payment, you need to make $132,877 per year to buy the median priced home in Richmond

With this income, you could qualify for a $664,480 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 Richmond is $3,077

The median household income for Richmond, CA (Contra Costa County) is $93,289

Based on this income, you can afford a home valued at approximately $518,349

The home price you can afford to buy based on household income in Richmond is 70% of the median home value which means housing prices are very expensive. Richmond (Contra Costa 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 Richmond, CA is very expensive

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Loan Limits for Richmond, California

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

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

FHA loan limits for Richmond, CA

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

VA loan limits for Richmond, CA

1 unit: $765,600

Additional Mortgage Resources for Richmond, CA Residents

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