Columbia

Current Mortgage Rates in Columbia, Maryland

Compare mortgage rates and fees for leading lenders in Columbia, 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 Columbia.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Columbia. Plus, shopping lenders is free and there is no obligation.

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Get Personalized Mortgage Quotes for Columbia, MD

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 Columbia, MD Mortgage Rates Compare?

December 16, 2019

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

The median home value for Columbia, MD (Howard County) is $458,280

The median household income for Columbia, MD (Howard County) is $119,109

Based on current mortgage rates and a 10% down payment, you need to make $85,025 per year to buy the median priced home in Columbia

The home price you can afford to buy based on household income in Columbia is 140% of the median home value which means housing prices are average

Columbia (Howard County) ranks 14 out of 24 counties in Maryland and 2,674 out of 3,142 counties in the United States for housing affordability.

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

Loan Limits for Columbia, Maryland

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Columbia (Howard County) below.

Conforming loan limits for Columbia, MD

1 unit: $517,500

2 units: $662,500

3 units: $800,800

4 units: $995,200

FHA loan limits for Columbia, MD

1 unit: $517,500

2 units: $662,500

3 units: $800,800

4 units: $995,200

VA loan limits for Columbia, MD

1 unit: $517,500