Compare mortgage rates and fees for leading lenders in Baltimore, MD. 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 lender offering the best mortgage rates in Baltimore.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Baltimore. Plus, shopping lenders is free and there is no obligation.
December 11, 2019
The current average rate for a 30 year fixed rate mortgage in Baltimore 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%
The median home value for Baltimore, MD is $267,751
The median household income for Baltimore, MD is $74,005
Based on current mortgage rates and a 10% down payment, you need to make $49,676 per year to buy the median priced home in Baltimore
The home price you can afford to buy based on household income in Baltimore is 149% of the median home value which means housing prices are average
Baltimore ranks 10 out of 24 counties in Maryland and 2,559 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Baltimore, MD is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Baltimore below.
Conforming loan limits for Baltimore, MD
FHA loan limits for Baltimore, MD
VA loan limits for Baltimore, MD
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index