Compare Richmond, 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 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.
February 6, 2023
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 $807,930
Based on current mortgage rates and a 10% down payment, you need to make $132,376 per year to buy the median priced home in Richmond
With this income, you could qualify for a $727,137 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 $3,066
The median household income for Richmond, CA (Contra Costa County) is $115,799
Based on this income, you can afford a home valued at approximately $706,757
The home price you can afford to buy based on household income in Richmond is 87% of the median home value which means housing prices are expensive. Richmond (Contra Costa County) ranks 37 out of 58 counties in California and 3,082 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 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