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San Luis Obispo

Current Mortgage Rates in San Luis Obispo, California

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

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 Luis Obispo. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in San Luis Obispo, CA as of April 4, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's San Luis Obispo, CA Mortgage Rates Compare?

April 4, 2020

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

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

The median home value for San Luis Obispo, CA is $640,922

Based on current mortgage rates and a 10% down payment, you need to make $115,349 per year to buy the median priced home in San Luis Obispo

With this income, you could qualify for a $576,830 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 Luis Obispo is $2,671

The median household income for San Luis Obispo, CA is $70,846

Based on this income, you can afford a home valued at approximately $393,643

The home price you can afford to buy based on household income in San Luis Obispo is 61% of the median home value which means housing prices are very expensive. San Luis Obispo ranks 49 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 San Luis Obispo, CA is very expensive

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Loan Limits for San Luis Obispo, California

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for San Luis Obispo below.

Conforming loan limits for San Luis Obispo, CA

1 unit: $690,000
2 units: $883,300
3 units: $1,067,750
4 units: $1,326,950

FHA loan limits for San Luis Obispo, CA

1 unit: $690,000
2 units: $883,300
3 units: $1,067,750
4 units: $1,326,950

VA loan limits for San Luis Obispo, CA

1 unit: $690,000

Additional Mortgage Resources for San Luis Obispo, CA Residents

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