Compare mortgage rates and fees for leading lenders in Harford, 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 Harford.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Harford. Plus, shopping lenders is free and there is no obligation.
July 3, 2020
The current average rate for a 30 year fixed rate mortgage in Harford 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 Harford. Understand how much you need to earn to afford a home in Harford, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Harford 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 Harford is right for you.
The median home value for Harford, MD is $327,414
Based on current mortgage rates and a 10% down payment, you need to make $58,926 per year to buy the median priced home in Harford
With this income, you could qualify for a $294,673 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 Harford is $1,365
The median household income for Harford, MD is $88,005
Based on this income, you can afford a home valued at approximately $488,985
The home price you can afford to buy based on household income in Harford is 149% of the median home value which means housing prices are average. Harford ranks 10 out of 24 counties in Maryland and 2,536 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Harford, MD is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Harford below.
Conforming loan limits for Harford, MD
FHA loan limits for Harford, MD
VA loan limits for Harford, MD