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Mount Vernon

Current Mortgage Rates in Mount Vernon, Washington

Compare mortgage rates and fees for leading lenders in Mount Vernon, 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 Mount Vernon.

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

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Mortgage Rates in Mount Vernon, WA as of July 8, 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 Mount Vernon, WA Mortgage Rates Compare?

July 8, 2020

The current average rate for a 30 year fixed rate mortgage in Mount Vernon 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
Mount Vernon, 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 Mount Vernon, Washington?

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

The median home value for Mount Vernon, WA (Skagit County) is $378,784

Based on current mortgage rates and a 10% down payment, you need to make $68,171 per year to buy the median priced home in Mount Vernon

With this income, you could qualify for a $340,906 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 Mount Vernon is $1,579

The median household income for Mount Vernon, WA (Skagit County) is $62,501

Based on this income, you can afford a home valued at approximately $347,279

The home price you can afford to buy based on household income in Mount Vernon is 92% of the median home value which means housing prices are expensive. Mount Vernon (Skagit County) ranks 31 out of 39 counties in Washington and 3,036 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Mount Vernon, WA is expensive

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Loan Limits for Mount Vernon, Washington

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

Conforming loan limits for Mount Vernon, WA

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

FHA loan limits for Mount Vernon, WA

1 unit: $373,750
2 units: $478,450
3 units: $578,350
4 units: $718,750

VA loan limits for Mount Vernon, WA

1 unit: $510,400

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