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Santa Cruz

Current Mortgage Rates in Santa Cruz, California

Compare mortgage rates and fees for leading lenders in Santa Cruz, 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 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.

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Mortgage Rates in Santa Cruz, CA as of April 2, 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 Santa Cruz, CA Mortgage Rates Compare?

April 2, 2020

The current average rate for a 30 year fixed rate mortgage in Santa Cruz 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
Santa Cruz, 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 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 $852,436

Based on current mortgage rates and a 10% down payment, you need to make $153,416 per year to buy the median priced home in Santa Cruz

With this income, you could qualify for a $767,192 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 $3,553

The median household income for Santa Cruz, CA is $77,688

Based on this income, you can afford a home valued at approximately $431,662

The home price you can afford to buy based on household income in Santa Cruz is 51% of the median home value which means housing prices are very expensive. Santa Cruz ranks 56 out of 58 counties in California and 3,137 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: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

FHA loan limits for Santa Cruz, CA

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

VA loan limits for Santa Cruz, CA

1 unit: $765,600

Additional Mortgage Resources for Santa Cruz, CA Residents

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