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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 January 27, 2020
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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.
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How Do Today's Corvallis, OR Mortgage Rates Compare?

January 27, 2020

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%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Corvallis, Oregon?

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

The median home value for Corvallis, OR (Benton County) is $415,534

Based on current mortgage rates and a 10% down payment, you need to make $74,785 per year to buy the median priced home in Corvallis

With this income, you could qualify for a $373,980 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 Corvallis is $1,732

The median household income for Corvallis, OR (Benton County) is $57,670

Based on this income, you can afford a home valued at approximately $320,434

The home price you can afford to buy based on household income in Corvallis is 77% 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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Corvallis, OR

1 unit: $402,500
2 units: $515,250
3 units: $622,850
4 units: $774,050

VA loan limits for Corvallis, OR

1 unit: $510,400

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