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Baltimore city

Current Mortgage Rates in Baltimore city, Maryland

Compare mortgage rates and fees for leading lenders in Baltimore city, 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 city.

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 city. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Baltimore city, MD as of February 17, 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 city, MD Mortgage Rates Compare?

February 17, 2020

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

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

The median home value for Baltimore city, MD is $172,830

Based on current mortgage rates and a 10% down payment, you need to make $31,105 per year to buy the median priced home in Baltimore city

With this income, you could qualify for a $155,547 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 city is $720

The median household income for Baltimore city, MD is $49,190

Based on this income, you can afford a home valued at approximately $273,314

The home price you can afford to buy based on household income in Baltimore city is 158% of the median home value which means housing prices are average. Baltimore city ranks 3 out of 24 counties in Maryland and 2,392 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Baltimore city, MD is average

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Loan Limits for Baltimore city, Maryland

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Baltimore city below.

Conforming loan limits for Baltimore city, MD

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

FHA loan limits for Baltimore city, MD

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

VA loan limits for Baltimore city, MD

1 unit: $520,950

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