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Maryland

Current Maryland Mortgage Rates

Compare mortgage rates and closing costs for leading lenders in Maryland. Review free, personalized mortgage rates for Maryland based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.

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

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Mortgage Rates for Maryland as of April 4, 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 Maryland Mortgage Rates Compare?

April 4, 2020

The current average rate for a 30 year fixed rate mortgage in Maryland 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
Maryland 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 Maryland?

Below we offer valuable insights on the housing market and real estate prices in Maryland. Understand how much you need to make to buy a house in Maryland, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Maryland is affordable for you. We provide this helpful information to help you decide if living in Maryland is right for you.

The median home value for Maryland is $348,734

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Maryland is $62,763

With this income, you could qualify for a $313,861 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 Maryland is $1,453

The median household income for Maryland is $86,261

Based on this income, you can afford a home valued at approximately $479,297

The home price you can afford to buy based on household income in Maryland is 137% of the median home value which means housing prices are expensive. Maryland ranks 33 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Maryland is expensive

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Additional Mortgage Resources for Maryland Residents

Mortgage Rates for Maryland Cities

Annapolis Mortgage Rates

Baltimore Mortgage Rates

Baltimore city Mortgage Rates

Bethesda Mortgage Rates

Charles Mortgage Rates

Columbia Mortgage Rates

Elkton Mortgage Rates

Frederick Mortgage Rates

Hagerstown Mortgage Rates

Harford Mortgage Rates

Lexington Park Mortgage Rates

Prince Georges Mortgage Rates

Salisbury Mortgage Rates

Westminister Mortgage Rates