Compare mortgage rates and fees for leading lenders in Fernley, NV. 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 Fernley.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Fernley. Plus, shopping lenders is free and there is no obligation.
December 16, 2019
The current average rate for a 30 year fixed rate mortgage in Fernley 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%
The median home value for Fernley, NV (Lyon County) is $181,700
The median household income for Fernley, NV (Lyon County) is $52,477
Based on current mortgage rates and a 10% down payment, you need to make $33,711 per year to buy the median priced home in Fernley
The home price you can afford to buy based on household income in Fernley is 156% of the median home value which means housing prices are average
Fernley (Lyon County) ranks 12 out of 17 counties in Nevada and 2,458 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Fernley, NV is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Fernley (Lyon County) below.
Conforming loan limits for Fernley, NV
FHA loan limits for Fernley, NV
VA loan limits for Fernley, NV
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