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.
November 11, 2019
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%
The median home value for Baltimore city, MD is $163,355
The median household income for Baltimore city, MD is $48,067
Based on current mortgage rates and a 10% down payment, you need to make $30,308 per year to buy the median priced home in Baltimore city
The home price you can afford to buy based on household income in Baltimore city is 159% of the median home value which means housing prices are average
Baltimore city ranks 3 out of 24 counties in Maryland and 2,404 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
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