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.
February 9, 2023
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
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
FHA loan limits for Racine, WI
VA loan limits for Racine, WI