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Frederick

Current Mortgage Rates in Frederick, Maryland

Compare mortgage rates and fees for leading lenders in Frederick, 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 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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Mortgage Rates in Frederick, MD as of August 19, 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 Frederick, MD Mortgage Rates Compare?

August 19, 2019

The current average rate for a 30 year fixed rate mortgage in Frederick 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
Frederick, MD Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Frederick, Maryland?

The median home value for Frederick, MD is $354,146

The median household income for Frederick, MD is $91,208

Based on current mortgage rates and a 10% down payment, you need to make $65,705 per year to buy the median priced home in Frederick

The home price you can afford to by based on household income in Frederick is 139% of the median home value which means housing prices are average

Frederick ranks 16 out of 24 counties in Maryland and 2,700 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: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

FHA loan limits for Frederick, MD

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

VA loan limits for Frederick, MD

1 unit: $726,525

Additional Mortgage Resources for Frederick, 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