Compare Baltimore city, MD 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 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.
June 25, 2022
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 $441,208
Based on current mortgage rates and a 10% down payment, you need to make $72,290 per year to buy the median priced home in Baltimore city
With this income, you could qualify for a $397,087 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 $1,674
The median household income for Baltimore city, MD is $121,468
Based on this income, you can afford a home valued at approximately $741,357
The home price you can afford to buy based on household income in Baltimore city is 168% of the median home value which means housing prices are average. Baltimore city ranks 6 out of 24 counties in Maryland and 2,341 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
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
FHA loan limits for Baltimore city, MD
VA loan limits for Baltimore city, MD
Learn what price home you can afford to buy in Baltimore city