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El Reno

Compare Current El Reno, Oklahoma Mortgage Rates

Compare El Reno, OK mortgage rates and fees from top lenders. 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 lowest 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.

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El Reno, OK Mortgage Rates as of February 22, 2024
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's El Reno, OK Mortgage Rates

February 22, 2024

Current mortgage rates in El Reno, OK are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
El Reno, OK Rates
National
Average
Comparison
30 Year Fixed Rate
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6.669%
15 Year Fixed Rate
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5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in El Reno, Oklahoma?

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

The median home value for El Reno, OK (Canadian County) is $227,744

Based on current mortgage rates and a 10% down payment, you need to make $47,511 per year to buy the median priced home in El Reno

With this income, you could qualify for a $204,970 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 El Reno is $1,100

The median household income for El Reno, OK (Canadian County) is $75,860

Based on this income, you can afford a home valued at approximately $363,633

The home price you can afford to buy based on household income in El Reno is 160% of the median home value which means housing prices are average. El Reno (Canadian County) ranks 61 out of 77 counties in Oklahoma and 1,641 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 average

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Loan Limits for El Reno, Oklahoma

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

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for El Reno, OK

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for El Reno, OK

1 unit: $726,200

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