Compare mortgage rates and fees for leading lenders in Clackamas, OR. 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 Clackamas.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Clackamas. Plus, shopping lenders is free and there is no obligation.
July 12, 2020
The current average rate for a 30 year fixed rate mortgage in Clackamas 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Clackamas. Understand how much you need to earn to afford a home in Clackamas, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Clackamas 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 Clackamas is right for you.
The median home value for Clackamas, OR is $490,343
Based on current mortgage rates and a 10% down payment, you need to make $88,249 per year to buy the median priced home in Clackamas
With this income, you could qualify for a $441,309 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 Clackamas is $2,044
The median household income for Clackamas, OR is $76,364
Based on this income, you can afford a home valued at approximately $424,308
The home price you can afford to buy based on household income in Clackamas is 87% of the median home value which means housing prices are expensive. Clackamas ranks 30 out of 36 counties in Oregon and 3,062 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Clackamas, OR is expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Clackamas below.
Conforming loan limits for Clackamas, OR
FHA loan limits for Clackamas, OR
VA loan limits for Clackamas, OR