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Santa Cruz

Compare Current Santa Cruz, California Mortgage Rates

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.

%
Santa Cruz, CA Mortgage Rates as of June 26, 2022
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4.461% APR Rate: 4.375%
15 Yr Fixed15 Yr Fixed
Points: .500
Rate Lock: 45 days
NMLS: 357085  LICENSE: CA 00532825
Terms & Conditions
Ask about no closing cost options
APR
4.461%
Rate
4.375%
Points
.500
Rate Lock
45 days
NMLS: 357085
LICENSE: CA 00532825

Terms & Conditions
Ask about no closing cost options
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Santa Cruz, CA Mortgage Rates

June 26, 2022

Current mortgage rates in Santa Cruz, CA are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Santa Cruz, CA Rates
National
Average
Comparison
30 Year Fixed Rate
%
5.780%
15 Year Fixed Rate
%
4.810%
5/1 Adjustable Rate Mortgage
%
4.330%

How Affordable is Housing in Santa Cruz, California?

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 $970,462

Based on current mortgage rates and a 10% down payment, you need to make $159,006 per year to buy the median priced home in Santa Cruz

With this income, you could qualify for a $873,416 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 $3,682

The median household income for Santa Cruz, CA is $96,488

Based on this income, you can afford a home valued at approximately $588,897

The home price you can afford to buy based on household income in Santa Cruz is 61% of the median home value which means housing prices are very expensive. Santa Cruz ranks 58 out of 58 counties in California and 3,134 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

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Loan Limits for Santa Cruz, California

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

1 unit: $970,800
2 units: $1,243,050
3 units: $1,502,475
4 units: $1,867,275

FHA loan limits for Santa Cruz, CA

1 unit: $970,800
2 units: $1,243,050
3 units: $1,502,475
4 units: $1,867,275

VA loan limits for Santa Cruz, CA

1 unit: $970,800

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