Compare mortgage rates and fees for leading lenders in Charles, 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 Charles.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Charles. Plus, shopping lenders is free and there is no obligation.
October 20, 2019
The current average rate for a 30 year fixed rate mortgage in Charles 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 Charles, MD is $336,444
The median household income for Charles, MD is $96,846
Based on current mortgage rates and a 10% down payment, you need to make $62,421 per year to buy the median priced home in Charles
The home price you can afford to buy based on household income in Charles is 155% of the median home value which means housing prices are average
Charles ranks 6 out of 24 counties in Maryland and 2,467 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Charles, MD is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Charles below.
Conforming loan limits for Charles, MD
FHA loan limits for Charles, MD
VA loan limits for Charles, 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