Compare Westminister, 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 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.
June 25, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Westminister. Understand how much you need to earn to afford a home in Westminister, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Westminister 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 Westminister is right for you.
The median home value for Westminister, MD (Carroll County) is $306,246
Based on current mortgage rates and a 10% down payment, you need to make $50,177 per year to buy the median priced home in Westminister
With this income, you could qualify for a $275,621 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 Westminister is $1,162
The median household income for Westminister, MD (Carroll County) is $82,623
Based on this income, you can afford a home valued at approximately $504,272
The home price you can afford to buy based on household income in Westminister is 165% of the median home value which means housing prices are average. Westminister (Carroll County) ranks 10 out of 24 counties in Maryland and 2,400 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
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
FHA loan limits for Westminister, MD
VA loan limits for Westminister, MD