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Moses Lake

Current Mortgage Rates in Moses Lake, Washington

Compare mortgage rates and fees for leading lenders in Moses Lake, 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 Moses Lake.

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

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Mortgage Rates in Moses Lake, WA as of July 5, 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 Moses Lake, WA Mortgage Rates Compare?

July 5, 2020

The current average rate for a 30 year fixed rate mortgage in Moses Lake 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
Moses Lake, WA 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 Moses Lake, Washington?

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

The median home value for Moses Lake, WA (Grant County) is $220,679

Based on current mortgage rates and a 10% down payment, you need to make $39,717 per year to buy the median priced home in Moses Lake

With this income, you could qualify for a $198,611 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 Moses Lake is $920

The median household income for Moses Lake, WA (Grant County) is $55,244

Based on this income, you can afford a home valued at approximately $306,957

The home price you can afford to buy based on household income in Moses Lake is 139% of the median home value which means housing prices are average. Moses Lake (Grant County) ranks 4 out of 39 counties in Washington and 2,684 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Moses Lake, WA is average

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Loan Limits for Moses Lake, Washington

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

Conforming loan limits for Moses Lake, WA

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

FHA loan limits for Moses Lake, WA

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

VA loan limits for Moses Lake, WA

1 unit: $510,400

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