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San Jose

Current Mortgage Rates in San Jose, California

Compare mortgage rates and fees for leading lenders in San Jose, 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 San Jose.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in San Jose. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in San Jose, CA as of September 18, 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 San Jose, CA Mortgage Rates Compare?

September 18, 2020

The current average rate for a 30 year fixed rate mortgage in San Jose 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
San Jose, 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 San Jose, California?

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

The median home value for San Jose, CA (Santa Clara County) is $1,122,580

Based on current mortgage rates and a 10% down payment, you need to make $202,035 per year to buy the median priced home in San Jose

With this income, you could qualify for a $1,010,322 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 San Jose is $4,679

The median household income for San Jose, CA (Santa Clara County) is $112,595

Based on this income, you can afford a home valued at approximately $625,615

The home price you can afford to buy based on household income in San Jose is 56% of the median home value which means housing prices are very expensive. San Jose (Santa Clara County) ranks 54 out of 58 counties in California and 3,133 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in San Jose, CA is very expensive

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Loan Limits for San Jose, California

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for San Jose (Santa Clara County) below.

Conforming loan limits for San Jose, CA

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

FHA loan limits for San Jose, CA

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

VA loan limits for San Jose, CA

1 unit: $765,600

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