Compare mortgage rates and fees for leading lenders in Kennewick, WA. 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 Kennewick.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Kennewick. Plus, shopping lenders is free and there is no obligation.
September 22, 2020
The current average rate for a 30 year fixed rate mortgage in Kennewick 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 Kennewick. Understand how much you need to earn to afford a home in Kennewick, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Kennewick 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 Kennewick is right for you.
The median home value for Kennewick, WA (Benton County) is $301,206
Based on current mortgage rates and a 10% down payment, you need to make $54,209 per year to buy the median priced home in Kennewick
With this income, you could qualify for a $271,086 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 Kennewick is $1,255
The median household income for Kennewick, WA (Benton County) is $66,443
Based on this income, you can afford a home valued at approximately $369,183
The home price you can afford to buy based on household income in Kennewick is 123% of the median home value which means housing prices are average. Kennewick (Benton County) ranks 12 out of 39 counties in Washington and 2,835 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Kennewick, WA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Kennewick (Benton County) below.
Conforming loan limits for Kennewick, WA
FHA loan limits for Kennewick, WA
VA loan limits for Kennewick, WA