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Grants Pass

Current Mortgage Rates in Grants Pass, Oregon

Compare mortgage rates and fees for leading lenders in Grants Pass, 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 Grants Pass.

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

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Mortgage Rates in Grants Pass, OR as of September 30, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Grants Pass, OR Mortgage Rates Compare?

September 30, 2020

The current average rate for a 30 year fixed rate mortgage in Grants Pass 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
Grants Pass, 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 Grants Pass, Oregon?

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

The median home value for Grants Pass, OR (Josephine County) is $322,130

Based on current mortgage rates and a 10% down payment, you need to make $57,975 per year to buy the median priced home in Grants Pass

With this income, you could qualify for a $289,917 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 Grants Pass is $1,343

The median household income for Grants Pass, OR (Josephine County) is $42,929

Based on this income, you can afford a home valued at approximately $238,530

The home price you can afford to buy based on household income in Grants Pass is 74% of the median home value which means housing prices are very expensive. Grants Pass (Josephine County) ranks 36 out of 36 counties in Oregon and 3,100 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Grants Pass, Oregon

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

Conforming loan limits for Grants Pass, OR

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Grants Pass, OR

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Grants Pass, OR

1 unit: $510,400

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