Compare Maryland 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 Maryland.
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.
June 25, 2022
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 $387,700
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Maryland is $63,523
With this income, you could qualify for a $348,930 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 $1,471
The median household income for Maryland is $98,810
Based on this income, you can afford a home valued at approximately $603,068
The home price you can afford to buy based on household income in Maryland is 156% of the median home value which means housing prices are average. Maryland ranks 25 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Maryland is average