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.

Racine, WI Mortgage Rates as of July 15, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. 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

July 15, 2024

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
Racine, WI Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

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 $242,658

Based on current mortgage rates and a 10% down payment, you need to make $50,622 per year to buy the median priced home in Racine

With this income, you could qualify for a $218,392 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 $1,172

The median household income for Racine, WI is $69,762

Based on this income, you can afford a home valued at approximately $334,403

The home price you can afford to buy based on household income in Racine is 138% of the median home value which means housing prices are average. Racine ranks 54 out of 72 counties in Wisconsin and 2,170 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


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: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Racine, WI

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Racine, WI

1 unit: $726,200

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