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Baltimore

Current Mortgage Rates in Baltimore, Maryland

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.

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Mortgage Rates in Baltimore, MD as of July 12, 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 Baltimore, MD Mortgage Rates Compare?

July 12, 2020

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%

Mortgage Program
Today's
Baltimore, MD 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 Baltimore, Maryland?

Below we provide helpful information on the real estate market, home prices and housing affordability in Baltimore. Understand how much you need to earn to afford a home in Baltimore, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Baltimore 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 Baltimore is right for you.

The median home value for Baltimore, MD is $278,461

Based on current mortgage rates and a 10% down payment, you need to make $50,116 per year to buy the median priced home in Baltimore

With this income, you could qualify for a $250,615 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 Baltimore is $1,161

The median household income for Baltimore, MD is $75,734

Based on this income, you can afford a home valued at approximately $420,804

The home price you can afford to buy based on household income in Baltimore is 151% of the median home value which means housing prices are average. Baltimore ranks 8 out of 24 counties in Maryland and 2,515 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

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Loan Limits for Baltimore, Maryland

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

1 unit: $520,950
2 units: $666,900
3 units: $806,150
4 units: $1,001,850

FHA loan limits for Baltimore, MD

1 unit: $520,950
2 units: $666,900
3 units: $806,150
4 units: $1,001,850

VA loan limits for Baltimore, MD

1 unit: $520,950

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