Compare mortgage rates and fees for leading lenders in Sonoma, 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 Sonoma.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Sonoma. Plus, shopping lenders is free and there is no obligation.
July 8, 2020
The current average rate for a 30 year fixed rate mortgage in Sonoma 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Sonoma. Understand how much you need to earn to afford a home in Sonoma, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Sonoma 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 Sonoma is right for you.
The median home value for Sonoma, CA is $696,457
Based on current mortgage rates and a 10% down payment, you need to make $125,344 per year to buy the median priced home in Sonoma
With this income, you could qualify for a $626,811 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 Sonoma is $2,903
The median household income for Sonoma, CA is $75,691
Based on this income, you can afford a home valued at approximately $420,564
The home price you can afford to buy based on household income in Sonoma is 60% of the median home value which means housing prices are very expensive. Sonoma ranks 50 out of 58 counties in California and 3,125 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Sonoma, 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 Sonoma below.
Conforming loan limits for Sonoma, CA
FHA loan limits for Sonoma, CA
VA loan limits for Sonoma, CA