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Ocala

Current Mortgage Rates in Ocala, Florida

Compare mortgage rates and fees for leading lenders in Ocala, FL. 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 Ocala.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Ocala. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Ocala, FL as of October 23, 2019
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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.

How Do Today's Ocala, FL Mortgage Rates Compare?

October 23, 2019

The current average rate for a 30 year fixed rate mortgage in Ocala 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
Ocala, FL Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Ocala, Florida?

The median home value for Ocala, FL (Marion County) is $155,149

The median household income for Ocala, FL (Marion County) is $43,247

Based on current mortgage rates and a 10% down payment, you need to make $28,785 per year to buy the median priced home in Ocala

The home price you can afford to buy based on household income in Ocala is 150% of the median home value which means housing prices are average

Ocala (Marion County) ranks 33 out of 67 counties in Florida and 2,535 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Ocala, FL is average

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Loan Limits for Ocala, Florida

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Ocala (Marion County) below.

Conforming loan limits for Ocala, FL

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Ocala, FL

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Ocala, FL

1 unit: $484,350

Additional Mortgage Resources for Ocala, FL Residents

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Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index