Compare mortgage rates and fees for leading lenders in El Reno, OK. 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 El Reno.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in El Reno. Plus, shopping lenders is free and there is no obligation.
November 13, 2019
The current average rate for a 30 year fixed rate mortgage in El Reno 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 El Reno, OK (Canadian County) is $172,931
The median household income for El Reno, OK (Canadian County) is $71,336
Based on current mortgage rates and a 10% down payment, you need to make $32,084 per year to buy the median priced home in El Reno
The home price you can afford to buy based on household income in El Reno is 222% of the median home value which means housing prices are affordable
El Reno (Canadian County) ranks 56 out of 77 counties in Oklahoma and 1,137 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in El Reno, OK is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for El Reno (Canadian County) below.
Conforming loan limits for El Reno, OK
FHA loan limits for El Reno, OK
VA loan limits for El Reno, OK
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