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Racine

Compare Current Racine, Wisconsin Mortgage Rates

Compare Racine, WI mortgage rates and fees from top lenders. 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 lowest mortgage rates in Racine.

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

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Racine, WI Mortgage Rates as of May 24, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Racine, WI Mortgage Rates

May 24, 2022

Current mortgage rates in Racine, WI are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Racine, WI Rates
National
Average
Comparison
30 Year Fixed Rate
%
5.250%
15 Year Fixed Rate
%
4.430%
5/1 Adjustable Rate Mortgage
%
4.080%

How Affordable is Housing in Racine, Wisconsin?

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

The median home value for Racine, WI is $241,362

Based on current mortgage rates and a 10% down payment, you need to make $39,546 per year to buy the median priced home in Racine

With this income, you could qualify for a $217,225 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 Racine is $916

The median household income for Racine, WI is $65,694

Based on this income, you can afford a home valued at approximately $400,952

The home price you can afford to buy based on household income in Racine is 166% of the median home value which means housing prices are average. Racine ranks 65 out of 72 counties in Wisconsin and 2,374 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Racine, WI is average

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Loan Limits for Racine, Wisconsin

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Racine below.

Conforming loan limits for Racine, WI

1 unit: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Racine, WI

1 unit: $420,680
2 units: $538,650
3 units: $651,050
4 units: $809,150

VA loan limits for Racine, WI

1 unit: $647,200

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