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San Mateo

Current Mortgage Rates in San Mateo, California

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

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 Mateo. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in San Mateo, CA as of November 13, 2019
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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.

How Do Today's San Mateo, CA Mortgage Rates Compare?

November 13, 2019

The current average rate for a 30 year fixed rate mortgage in San Mateo 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 Mateo, CA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in San Mateo, California?

The median home value for San Mateo, CA is $1,237,120

The median household income for San Mateo, CA is $108,897

Based on current mortgage rates and a 10% down payment, you need to make $229,525 per year to buy the median priced home in San Mateo

The home price you can afford to buy based on household income in San Mateo is 47% of the median home value which means housing prices are very expensive

San Mateo ranks 57 out of 58 counties in California and 3,138 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for San Mateo, California

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

Conforming loan limits for San Mateo, CA

1 unit: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

FHA loan limits for San Mateo, CA

1 unit: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

VA loan limits for San Mateo, CA

1 unit: $726,525

Additional Mortgage Resources for San Mateo, CA Residents

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Sources

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