Current Mortgage Rates in Salisbury, Maryland

Compare mortgage rates and fees for leading lenders in Salisbury, 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 Salisbury.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Salisbury. Plus, shopping lenders is free and there is no obligation.

Mortgage Rates in Salisbury, MD as of September 23, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Salisbury, MD Mortgage Rates Compare?

September 23, 2020

The current average rate for a 30 year fixed rate mortgage in Salisbury 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%

Mortgage Program
Salisbury, MD Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Salisbury, Maryland?

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

The median home value for Salisbury, MD (Wicomico County) is $191,619

Based on current mortgage rates and a 10% down payment, you need to make $34,486 per year to buy the median priced home in Salisbury

With this income, you could qualify for a $172,457 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 Salisbury is $799

The median household income for Salisbury, MD (Wicomico County) is $57,471

Based on this income, you can afford a home valued at approximately $319,327

The home price you can afford to buy based on household income in Salisbury is 167% of the median home value which means housing prices are average. Salisbury (Wicomico County) ranks 2 out of 24 counties in Maryland and 2,234 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Salisbury, MD is average


Loan Limits for Salisbury, Maryland

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Salisbury (Wicomico County) below.

Conforming loan limits for Salisbury, MD

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Salisbury, MD

1 unit: $345,000
2 units: $441,650
3 units: $533,850
4 units: $663,450

VA loan limits for Salisbury, MD

1 unit: $510,400

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