Compare mortgage rates and fees for leading lenders in Prince Georges, 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 Prince Georges.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Prince Georges. Plus, shopping lenders is free and there is no obligation.
September 22, 2019
The current average rate for a 30 year fixed rate mortgage in Prince Georges 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 Prince Georges, MD is $319,780
The median household income for Prince Georges, MD is $81,010
Based on current mortgage rates and a 10% down payment, you need to make $59,329 per year to buy the median priced home in Prince Georges
The home price you can afford to buy based on household income in Prince Georges is 137% of the median home value which means housing prices are average
Prince Georges ranks 19 out of 24 counties in Maryland and 2,723 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Prince Georges, MD is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Prince Georges below.
Conforming loan limits for Prince Georges, MD
FHA loan limits for Prince Georges, MD
VA loan limits for Prince Georges, MD
Learn what price home you can afford to buy in Prince Georges
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