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El Reno

Current Mortgage Rates in El Reno, Oklahoma

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.

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Mortgage Rates in El Reno, OK as of September 22, 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 El Reno, OK Mortgage Rates Compare?

September 22, 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%

Mortgage Program
Today's
El Reno, OK Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in El Reno, Oklahoma?

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

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

FHA loan limits for El Reno, OK

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

VA loan limits for El Reno, OK

1 unit: $484,350

Additional Mortgage Resources for El Reno, OK 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