Compare Santa Cruz, 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 Santa Cruz.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Santa Cruz. Plus, shopping lenders is free and there is no obligation.
December 1, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Santa Cruz. Understand how much you need to earn to afford a home in Santa Cruz, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Santa Cruz 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 Santa Cruz is right for you.
The median home value for Santa Cruz, CA is $983,172
Based on current mortgage rates and a 10% down payment, you need to make $205,105 per year to buy the median priced home in Santa Cruz
With this income, you could qualify for a $884,855 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 Santa Cruz is $4,750
The median household income for Santa Cruz, CA is $95,304
Based on this income, you can afford a home valued at approximately $456,841
The home price you can afford to buy based on household income in Santa Cruz is 46% of the median home value which means housing prices are very expensive. Santa Cruz ranks 55 out of 58 counties in California and 3,131 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Santa Cruz, 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 Santa Cruz below.
Conforming loan limits for Santa Cruz, CA
FHA loan limits for Santa Cruz, CA
VA loan limits for Santa Cruz, CA