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Westminister

Current Mortgage Rates in Westminister, Maryland

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

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

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Mortgage Rates in Westminister, MD as of December 12, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

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

December 12, 2019

The current average rate for a 30 year fixed rate mortgage in Westminister 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
Today's
Westminister, MD Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Westminister, Maryland?

The median home value for Westminister, MD (Carroll County) is $356,229

The median household income for Westminister, MD (Carroll County) is $93,277

Based on current mortgage rates and a 10% down payment, you need to make $66,092 per year to buy the median priced home in Westminister

The home price you can afford to buy based on household income in Westminister is 141% of the median home value which means housing prices are average

Westminister (Carroll County) ranks 13 out of 24 counties in Maryland and 2,663 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Westminister, Maryland

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

Conforming loan limits for Westminister, MD

1 unit: $517,500
2 units: $662,500
3 units: $800,800
4 units: $995,200

FHA loan limits for Westminister, MD

1 unit: $517,500
2 units: $662,500
3 units: $800,800
4 units: $995,200

VA loan limits for Westminister, MD

1 unit: $517,500

Additional Mortgage Resources for Westminister, MD Residents

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Sources

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