Compare mortgage rates and fees for leading lenders in Hagerstown, 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 Hagerstown.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Hagerstown. Plus, shopping lenders is free and there is no obligation.
September 24, 2020
The current average rate for a 30 year fixed rate mortgage in Hagerstown 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Hagerstown. Understand how much you need to earn to afford a home in Hagerstown, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Hagerstown 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 Hagerstown is right for you.
The median home value for Hagerstown, MD (Washington County) is $240,607
Based on current mortgage rates and a 10% down payment, you need to make $43,303 per year to buy the median priced home in Hagerstown
With this income, you could qualify for a $216,546 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 Hagerstown is $1,003
The median household income for Hagerstown, MD (Washington County) is $61,443
Based on this income, you can afford a home valued at approximately $341,401
The home price you can afford to buy based on household income in Hagerstown is 142% of the median home value which means housing prices are average. Hagerstown (Washington County) ranks 14 out of 24 counties in Maryland and 2,639 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Hagerstown, MD is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Hagerstown (Washington County) below.
Conforming loan limits for Hagerstown, MD
FHA loan limits for Hagerstown, MD
VA loan limits for Hagerstown, MD