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Fernley

Current Mortgage Rates in Fernley, Nevada

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.

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Mortgage Rates in Fernley, NV as of September 18, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Fernley, NV Mortgage Rates Compare?

September 18, 2020

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%

Mortgage Program
Today's
Fernley, NV 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 Fernley, Nevada?

Below we provide helpful information on the real estate market, home prices and housing affordability in Fernley. Understand how much you need to earn to afford a home in Fernley, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Fernley 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 Fernley is right for you.

The median home value for Fernley, NV (Lyon County) is $198,235

Based on current mortgage rates and a 10% down payment, you need to make $35,677 per year to buy the median priced home in Fernley

With this income, you could qualify for a $178,411 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 Fernley is $826

The median household income for Fernley, NV (Lyon County) is $53,702

Based on this income, you can afford a home valued at approximately $298,389

The home price you can afford to buy based on household income in Fernley is 151% of the median home value which means housing prices are average. Fernley (Lyon County) ranks 12 out of 17 counties in Nevada and 2,521 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

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Loan Limits for Fernley, Nevada

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

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Fernley, NV

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Fernley, NV

1 unit: $510,400

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