Compare mortgage rates and fees for leading lenders in Lexington Park, 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 Lexington Park.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Lexington Park. Plus, shopping lenders is free and there is no obligation.
December 10, 2019
The current average rate for a 30 year fixed rate mortgage in Lexington Park 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%
The median home value for Lexington Park, MD (St. Marys County) is $313,698
The median household income for Lexington Park, MD (St. Marys County) is $89,153
Based on current mortgage rates and a 10% down payment, you need to make $58,201 per year to buy the median priced home in Lexington Park
The home price you can afford to buy based on household income in Lexington Park is 153% of the median home value which means housing prices are average
Lexington Park (St. Marys County) ranks 7 out of 24 counties in Maryland and 2,498 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Lexington Park, MD is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Lexington Park (St. Marys County) below.
Conforming loan limits for Lexington Park, MD
FHA loan limits for Lexington Park, MD
VA loan limits for Lexington Park, MD
Learn what price home you can afford to buy in Lexington Park
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