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Corvallis

Current Mortgage Rates in Corvallis, Oregon

Compare mortgage rates and fees for leading lenders in Corvallis, 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 Corvallis.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Corvallis. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Corvallis, OR as of December 11, 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 Corvallis, OR Mortgage Rates Compare?

December 11, 2019

The current average rate for a 30 year fixed rate mortgage in Corvallis 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
Corvallis, OR Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Corvallis, Oregon?

The median home value for Corvallis, OR (Benton County) is $387,263

The median household income for Corvallis, OR (Benton County) is $56,354

Based on current mortgage rates and a 10% down payment, you need to make $71,850 per year to buy the median priced home in Corvallis

The home price you can afford to buy based on household income in Corvallis is 78% of the median home value which means housing prices are very expensive

Corvallis (Benton County) ranks 35 out of 36 counties in Oregon and 3,095 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Corvallis, OR is very expensive

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Loan Limits for Corvallis, Oregon

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Corvallis (Benton County) below.

Conforming loan limits for Corvallis, OR

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

FHA loan limits for Corvallis, OR

1 unit: $385,250
2 units: $493,200
3 units: $596,150
4 units: $740,850

VA loan limits for Corvallis, OR

1 unit: $484,350

Additional Mortgage Resources for Corvallis, OR 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