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Charles

Current Mortgage Rates in Charles, Maryland

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.

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Mortgage Rates in Charles, MD as of December 12, 2019
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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.

How Do Today's Charles, MD Mortgage Rates Compare?

December 12, 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%

Mortgage Program
Today's
Charles, MD Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Charles, Maryland?

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

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Loan Limits for Charles, Maryland

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

1 unit: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

FHA loan limits for Charles, MD

1 unit: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

VA loan limits for Charles, MD

1 unit: $726,525

Additional Mortgage Resources for Charles, MD Residents

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Sources

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