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Prince Georges

Compare Current Prince Georges, Maryland Mortgage Rates

Compare Prince Georges, MD mortgage rates and fees from top lenders. 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 lowest 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.

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Prince Georges, MD Mortgage Rates as of May 24, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Prince Georges, MD Mortgage Rates

May 24, 2022

Current mortgage rates in Prince Georges, MD are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Prince Georges, MD Rates
National
Average
Comparison
30 Year Fixed Rate
%
5.250%
15 Year Fixed Rate
%
4.430%
5/1 Adjustable Rate Mortgage
%
4.080%

How Affordable is Housing in Prince Georges, Maryland?

Below we provide helpful information on the real estate market, home prices and housing affordability in Prince Georges. Understand how much you need to earn to afford a home in Prince Georges, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Prince Georges 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 Prince Georges is right for you.

The median home value for Prince Georges, MD is $358,818

Based on current mortgage rates and a 10% down payment, you need to make $58,791 per year to buy the median priced home in Prince Georges

With this income, you could qualify for a $322,936 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 Prince Georges is $1,361

The median household income for Prince Georges, MD is $91,788

Based on this income, you can afford a home valued at approximately $560,207

The home price you can afford to buy based on household income in Prince Georges is 156% of the median home value which means housing prices are average. Prince Georges ranks 14 out of 24 counties in Maryland and 2,512 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

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Loan Limits for Prince Georges, Maryland

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

1 unit: $970,800
2 units: $1,243,050
3 units: $1,502,475
4 units: $1,867,275

FHA loan limits for Prince Georges, MD

1 unit: $970,800
2 units: $1,243,050
3 units: $1,502,475
4 units: $1,867,275

VA loan limits for Prince Georges, MD

1 unit: $970,800

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