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Frederick

Compare Current Frederick, Maryland Mortgage Rates

Compare Frederick, 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 Frederick.

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

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Frederick, MD Mortgage Rates as of October 1, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Frederick, MD Mortgage Rates

October 1, 2022

Current mortgage rates in Frederick, MD are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Frederick, MD Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.290%
15 Year Fixed Rate
%
5.440%
5/1 Adjustable Rate Mortgage
%
4.970%

How Affordable is Housing in Frederick, Maryland?

Below we provide helpful information on the real estate market, home prices and housing affordability in Frederick. Understand how much you need to earn to afford a home in Frederick, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Frederick 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 Frederick is right for you.

The median home value for Frederick, MD is $408,863

Based on current mortgage rates and a 10% down payment, you need to make $66,991 per year to buy the median priced home in Frederick

With this income, you could qualify for a $367,977 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 Frederick is $1,551

The median household income for Frederick, MD is $105,634

Based on this income, you can afford a home valued at approximately $644,713

The home price you can afford to buy based on household income in Frederick is 158% of the median home value which means housing prices are average. Frederick ranks 13 out of 24 counties in Maryland and 2,488 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Frederick, Maryland

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Frederick below.

Conforming loan limits for Frederick, MD

1 unit: $970,800
2 units: $1,243,050
3 units: $1,502,475
4 units: $1,867,275

FHA loan limits for Frederick, MD

1 unit: $970,800
2 units: $1,243,050
3 units: $1,502,475
4 units: $1,867,275

VA loan limits for Frederick, MD

1 unit: $970,800

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