Compare San Mateo, 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 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.
October 21, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in San Mateo. Understand how much you need to earn to afford a home in San Mateo, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in San Mateo 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 Mateo is right for you.
The median home value for San Mateo, CA is $1,515,414
Based on current mortgage rates and a 10% down payment, you need to make $316,140 per year to buy the median priced home in San Mateo
With this income, you could qualify for a $1,363,873 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 Mateo is $7,321
The median household income for San Mateo, CA is $133,720
Based on this income, you can afford a home valued at approximately $640,987
The home price you can afford to buy based on household income in San Mateo is 42% of the median home value which means housing prices are very expensive. San Mateo ranks 56 out of 58 counties in California and 3,135 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
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
FHA loan limits for San Mateo, CA