Mortgage rates in Maryland
30-yr fixed 7.18% · Freddie Mac PMMS, week of Nov 5, 2026 · APR benchmark 7.19% (APOR for locks from Nov 9, 2026) · Last reviewed Oct 18, 2026 by the Editorial Team
Maryland has among the highest median household incomes in the country.
Mortgage rates today by loan type
These are national averages. Lenders in Maryland price off the same national market, so treat them as a benchmark: your quote depends on your credit, down payment, loan size and points. The APR benchmark folds in typical points and fees, so it shows what a prime borrower's APR looks like this week.
| Loan type | Avg rate | APR benchmarkAPOR | Source · as of | What it measures |
|---|---|---|---|---|
| 30-year fixed | 7.18% | 7.19% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 20-year fixed | 6.66% | 6.93% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 15-year fixed | 6.57% | 6.67% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 10-year fixed | 6.31% | 6.82% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 5-year ARM | 6.73% | 6.67% | Zillow (via NerdWallet)Nov 6, 2026 | Fixed for 5 years, then adjusts; APOR = prime ARM benchmark |
| 7-year ARM | — | 6.50% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| 10-year ARM | — | 6.63% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| FHA 30-year | 6.89% | — | Optimal Blue OBMMINov 5, 2026 | Locked FHA loans, all credit profiles; daily |
| VA 30-year | 6.71% | — | Optimal Blue OBMMINov 5, 2026 | Locked VA loans; daily |
| USDA 30-year | 6.86% | — | Optimal Blue OBMMINov 5, 2026 | Locked USDA loans; daily |
| Jumbo 30-year | 7.25% | — | Optimal Blue OBMMINov 5, 2026 | Locked loans above the conforming limit; daily |
APR benchmark = FFIEC/CFPB Average Prime Offer Rate for rate locks in the week starting Nov 9, 2026 (published in advance): a prime borrower's APR including typical points and fees. It is not a quote; your APR depends on credit, down payment and the points you pay. APOR is not published for FHA, VA, USDA or jumbo loans.
Calculate your Maryland mortgage payment
The calculator starts from Maryland's median list price, 20% down, the state's 0.94% effective property tax, its median insurance premium and its average closing costs. Switch to FHA or VA, change the down payment, or pick your county to set its conforming limit. For the month-by-month split of principal and interest, open the full amortization schedule. To see how Maryland's property tax and insurance compare with every other state, try the mortgage calculator with taxes and insurance.
Maryland vs. the U.S.
Maryland's median list price is close to the U.S. median, so at the same 7.18% rate the principal and interest on a 20%-down loan is within $54 a month of the national figure. Five-year price growth here was the 8th-slowest of 51 jurisdictions.
| Measure | Maryland | U.S. |
|---|---|---|
| Median list priceRealtor.com, Oct 2026 | $424,894 | $415,000 |
| Principal + interest, 20% down30-yr avg 7.18% | $2,303 | $2,249 |
| Average home-purchase loanHMDA 2025 | $434,544 | $404,828 |
| Average closing costsincl. transfer taxes | $9,218 | $4,661 |
| Median conventional rate paid2025 purchase loans | 6.50% | 6.50% |
| Mortgage approval rateHMDA 2025 | 74.8% | 76.6% |
| Home values, 1 yearFHFA index, Q2 2026 | +2.2% | +3.0% |
| Home values, 5 yearsFHFA index, Q2 2026 | +32.0% | +41.3% |
What Maryland borrowers actually paid in 2025
This is the state-specific part. Federal HMDA records show the rate and costs on every Maryland home-purchase loan closed in 2025. We compare like with like: 30-year fixed, first-lien, one-unit primary homes. On conventional loans, Maryland borrowers paid 0.01 percentage points above the market benchmark at lock, the 24th-lowest of all 50 states and the District of Columbia.
| 2025 purchase loans | Median rateMD · U.S. | Over benchmarkMD · U.S. | Closing costsMD · U.S. | Paid pointsshare of loans | Median downequity on refis · MD |
|---|---|---|---|---|---|
| Conventional 30-yr fixed (conforming, 20%+ down)12,441 loans | 6.50%6.50% | +0.01+0.02 | $5,878$5,476 | 53.7%53.2% | 23.8% |
| Jumbo 30-yr fixed (20%+ down)434 loans | 6.50%6.63% | −0.05+0.00 | $9,888$10,251 | 43.8%38.4% | 20% |
| FHA 30-yr fixed10,249 loans | 6.38%6.25% | +0.57+0.42 | $13,048$11,291 | 52.6%59.3% | 3.5% |
| VA 30-yr fixed6,683 loans | 6.13%6.13% | −0.37−0.36 | $9,238$6,554 | 52.6%59.3% | 0% |
| Conventional rate-and-term refinance2,565 loans | 6.13%6.38% | −0.12−0.06 | $4,918$4,390 | 49.1%45.4% | 30.9% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), medians. "Over benchmark" = rate spread, the APR minus APOR on the lock date, which removes the effect of when each loan locked. Closing costs = total loan costs on the Closing Disclosure. HMDA has no credit scores, so these are what borrowers paid, not what you will be offered. See the lenders active in Maryland and what their borrowers paid.
Maryland's biggest conventional lenders: what their borrowers paid
The 8 largest conventional lenders in Maryland by 2025 purchase loans, out of 556 that made one. Each row is the median for that lender's comparable loans here: 30-year fixed, conforming, 20% or more down. A lower figure over the benchmark means cheaper pricing for the same week.
| Lender | 2025 loansshare in MD | Median rate | Over benchmark | Originationmedian | Paid pointsshare · median | Median down |
|---|---|---|---|---|---|---|
| Rocket Mortgage | 2,0905% | 6.50% | −0.06 | $2,921 | 56%$2,500 | 21% |
| First Home Mortgage Corporation | 2,0194.8% | 6.63% | +0.20 | $5,575 | 84%$4,025 | 25% |
| United Wholesale Mortgage | 1,8424.4% | 6.50% | −0.06 | $3,372 | 46%$2,120 | 22.6% |
| NFM, Inc. | 1,2713% | 6.63% | +0.16 | $3,870 | 78%$2,844 | 21.3% |
| NVR Mortgage | 9962.4% | 6.50% | −0.08 | $3,225 | 87%$8,788 | 30% |
| Truist | 9332.2% | 6.38% | −0.29 | $1,266 | 45%$957 | 25.2% |
| Towne Bank | 8732.1% | 6.63% | +0.03 | $2,031 | 52%$1,899 | 25% |
| Navy Federal Credit Union | 8702.1% | 6.25% | −0.24 | $0 | 16%$3,138 | 25% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), lenders with at least 30 comparable loans in Maryland. Minimum credit scores are not shown here: conventional loans usually start at 620 (a lender floor; Fannie Mae's automated underwriting sets none), FHA 580 (500 with 10% down), VA none set by VA (lenders often 620). HMDA has no credit scores, so a lender's medians reflect its own mix of borrowers. FHA and VA lenders: Maryland lender rankings.
How rates have moved
Weekly national averages over the past 30 days to 5 years. The 30- and 15-year lines are Freddie Mac average rates; the ARM lines are the APOR APR benchmark, because no free weekly ARM rate series exists.
- Now
- 7.18%
- Nov 5, 2026
- 1 week ago
- 7.24%
- −0.06 pts
- 1 month ago
- 7.40%
- −0.22 pts
- 1 year ago
- 6.22%
- +0.96 pts
30-year fixed: Freddie Mac PMMS (rate), weekly. National series.
What a mortgage costs in Maryland
On a home at Maryland's median list price of $424,894 with 20% down, the loan works out to $339,915, or about $2,303 a month in principal and interest at the 7.18% 30-year average.
What makes Maryland different is the cost around the loan. Its 0.94% effective property-tax rate adds roughly $333 a month, and homeowners insurance — at the state's median 0.32% of home value — about $115 more, bringing the all-in estimate to $2,750. That figure is principal and interest at the 30-year average, property tax and insurance; at 20% down a conventional loan has no PMI, and HOA dues or local special assessments are not included. Your own price and down payment will move the number — work backward from your income with the affordability estimator.
Payment at the $424,894 median list price by down payment and loan type
| Loan | Rate | Monthlyall-in | Mortgage ins. | Cash to close | Income needed28% rule · yearly |
|---|---|---|---|---|---|
| Conventional, 20% downNo PMI | 7.18%Freddie Mac 30-yr avg | $2,750P&I $2,303 | — | $94,197 | $118,000 |
| Conventional, 10% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $3,261P&I $2,591 | $223 | $51,707 | $140,000 |
| Conventional, 5% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $3,417P&I $2,734 | $235 | $30,463 | $146,000 |
| Conventional, 3% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $3,480P&I $2,792 | $240 | $21,965 | $149,000 |
| FHA, 3.5% down1.75% upfront MIP financed + annual MIP | 6.89%OBMMI FHA avg | $3,380P&I $2,745 | $188 | $24,089 | $145,000 |
| VA, 0% down2.15% funding fee financed; no monthly MI | 6.71%OBMMI VA avg | $3,251P&I $2,804 | — | $9,218 | $139,000 |
Monthly = principal and interest + property tax (0.94% effective) + homeowners insurance (about $115/mo — Maryland's median premium, 0.32% of home value) + mortgage insurance. HOA dues and local special assessments are not included. Cash to close = down payment + Maryland's average closing costs ($9,218). PMI is an illustrative 0.7% a year; FHA and VA figures use HUD's MIP schedule and VA's first-use funding fee. Income needed = the gross yearly income at which the monthly figure is 28% of pay, the classic housing-cost guideline. Lenders also limit your total monthly debts as a share of income, so car, student-loan and card payments raise the income you need.
Prices, loan limits and payments in Maryland's biggest counties
Home prices, and so the loan you need, vary more inside Maryland than rates do. The table covers the largest county markets and the high-cost counties where the conforming limit is higher. Pick a row to load it into the calculator above.
| County | Median list priceSep 2026 · yr/yr | Avg purchase loanHMDA 2025 | Conforming limitmax price at 20% down | At 20% down | Est. paymentP&I + tax + ins. | Calculator |
|---|---|---|---|---|---|---|
| Baltimore City2,744 homes for sale · Sep 2026 | $200,000-9.1% | $267,4596,214 loans | $832,750$1,040,937 | Conforming$160,000 loan | $1,295at 7.18% | |
| Montgomery County2,328 homes for sale · Sep 2026 | $599,900-8% | $628,8758,615 loans | $1,249,125$1,561,406 | Conforming$479,920 loan | $3,883at 7.18% | |
| Prince George'S County2,195 homes for sale · Sep 2026 | $450,000-4.8% | $442,0318,265 loans | $1,249,125$1,561,406 | Conforming$360,000 loan | $2,913at 7.18% | |
| Baltimore County1,741 homes for sale · Sep 2026 | $387,000-0.6% | $381,0387,930 loans | $832,750$1,040,937 | Conforming$309,600 loan | $2,505at 7.18% | |
| Anne Arundel County1,418 homes for sale · Sep 2026 | $524,945-4% | $495,2056,981 loans | $832,750$1,040,937 | Conforming$419,956 loan | $3,398at 7.18% | |
| Worcester County802 homes for sale · Sep 2026 | $472,4250% | $361,7011,443 loans | $832,750$1,040,937 | Conforming$377,940 loan | $3,058at 7.18% | |
| Frederick County777 homes for sale · Sep 2026 | $539,974+2.4% | $455,9303,568 loans | $1,249,125$1,561,406 | Conforming$431,979 loan | $3,495at 7.18% | |
| Harford County669 homes for sale · Sep 2026 | $419,923-3.1% | $370,7153,148 loans | $832,750$1,040,937 | Conforming$335,938 loan | $2,718at 7.18% | |
| Charles County647 homes for sale · Sep 2026 | $475,0000% | $438,4962,626 loans | $1,249,125$1,561,406 | Conforming$380,000 loan | $3,075at 7.18% | |
| Howard County538 homes for sale · Sep 2026 | $607,500-6.3% | $544,2003,238 loans | $832,750$1,040,937 | Conforming$486,000 loan | $3,932at 7.18% | |
| Washington County511 homes for sale · Sep 2026 | $332,400-8.9% | $300,7151,559 loans | $832,750$1,040,937 | Conforming$265,920 loan | $2,152at 7.18% | |
| Carroll County356 homes for sale · Sep 2026 | $529,975-5.8% | $417,7971,834 loans | $832,750$1,040,937 | Conforming$423,980 loan | $3,430at 7.18% | |
| Calvert County333 homes for sale · Sep 2026 | $530,000-3% | $453,6421,141 loans | $1,209,750$1,512,187 | Conforming$424,000 loan | $3,431at 7.18% |
Sources: Realtor.com county research data (median listing price, Sep 2026); FHFA 2026 one-unit conforming limits; 2025 HMDA home-purchase originations (average loan, all loan types). Payments use the 30-year average (7.18%, or the jumbo average 7.25% above the limit), Maryland's 0.94% effective property tax and its median insurance premium (0.32% of value), both from Census ACS 2024 data; county tax rates differ. Max price at 20% down = the county limit ÷ 0.8, the highest price at which a 20%-down loan stays conforming. Homes for sale = active Realtor.com listings in the month, excluding pending sales.
What's different about buying a home in Maryland
Rates are national, but the rules around the loan are not. These Maryland specifics can change your payment, your closing or your protections as a borrower.
Homestead credit caps assessment growth; you must apply
Maryland's Homestead Tax Credit limits yearly increases in the taxable assessment of your principal residence to 10% or less, which can slow growth in the tax portion of your escrow payment. It isn't automatic: owners file a one-time application, and the state mails buyers one after the deed is recorded.
Source: dat.maryland.govGround rent is collectible only if registered
Some Maryland homes carry a ground rent, a recurring payment to the owner of the land under the house. Only ground rents listed on SDAT's Ground Rent Registry are legally collectible, and many can be redeemed with a one-time lump sum, so a registered rent is a separate cost from the mortgage payment.
Source: dat.maryland.govForeclosure: 45-day notice and court mediation
In a Maryland foreclosure on an owner-occupied home, the borrower may ask the court for mediation with the lender, generally within 25 days of being served, to seek a loss mitigation agreement. Lenders must also generally send a notice of intent to foreclose at least 45 days before filing.
Source: mgaleg.maryland.govSellers must give disclosure or as-is disclaimer
Maryland sellers of homes with up to four units generally must give buyers a condition disclosure or an "as is" disclaimer by the contract date. A buyer who gets it late can rescind within 5 days, but that right can end at mortgage application if the lender disclosed this in writing.
Source: mgaleg.maryland.govInsurer of last resort: the Joint Insurance Association
Homeowners who cannot get insurance from a private insurer may be able to get limited coverage through the Maryland Property Insurance Availability Program, known as the Joint Insurance Association (JIA). That coverage may be more restrictive and more expensive than other insurers' policies, raising monthly housing costs.
Source: insurance.maryland.govChecked against official sources on October 19, 2026. Laws and programs change; confirm details with the agency named or a local real estate attorney.
How Maryland buyers finance their homes
VA loans are where Maryland stands out: they made up 10.6% of home loans originated here in 2025, against 8.2% nationally — the 17th-highest VA share of any state. Lenders, agents and appraisers here handle VA deals routinely, which helps if that is the loan you need.
| Loan type | Share in MD | U.S. share | Approval in MD | Avg loan in MD |
|---|---|---|---|---|
| Conventional | 74.5% | 78.0% | 73.6% | $329,926 |
| FHA | 14.5% | 13.2% | 75.0% | $377,695 |
| VA | 10.6% | 8.2% | 82.9% | $505,637 |
| USDA | 0.3% | 0.6% | 90.8% | $259,161 |
The average Maryland home loan in 2025 was $355,240, close to the U.S. average of $352,861, the 17th-largest of 51 jurisdictions. Home purchases accounted for 61.5% of those loans (U.S. 64.2%); cash-out refinances for 19.4% (U.S. 17.1%).
Source: 2025 HMDA originations, FFIEC/CFPB. Approval = originated ÷ (originated + denied).
Maryland loan limits for 2026
5 of Maryland's 24 counties are high-cost areas for 2026, with one-unit conforming limits above the $832,750 baseline — highest in Charles County ($1,249,125), Frederick County ($1,249,125), Montgomery County ($1,249,125). Everywhere else in the state the cap is $832,750, so the same loan amount can be conforming in one county and jumbo in the next. See the full national grid in our conforming loan limit reference, and if you are over the line, what changes with jumbo rates.
County limits: FHFA 2026 conforming loan limit list (one-unit properties; two- to four-unit limits are higher).
Cash you'll need to close in Maryland
Average closing costs in Maryland are about $9,218 including transfer taxes (among the highest in the country). On a home at the median list price of $424,894:
| 20% down | 3% down | |
|---|---|---|
| Down payment | $84,979 | $12,747 |
| Average closing costs | $9,218 | $9,218 |
| Cash to close (estimate) | $94,197 | $21,965 |
Prepaid taxes and insurance are extra. Closing-cost averages by state (source: Bankrate).
Transfer taxes and recording rules in Maryland
Maryland's state transfer tax is 0.5% of the price, cut to 0.25% when the buyer is a first-time Maryland homebuyer. Counties and Baltimore City add their own recordation tax — which also applies to new mortgages — and most add a local transfer tax, so the total varies widely by county. Source: mgaleg.maryland.gov
Getting approved in Maryland
Federal HMDA lending records show Maryland lenders originated 126,664 home loans in 2025 and denied 42,745 applications — an approval rate near 74.8% among decisioned applications, against 76.6% nationwide. See how all 50 states compare in our mortgage approval report, and how Maryland ranks for lender complaints (16,985 on record).
Shopping for a loan? See the most active mortgage lenders in Maryland, ranked by federal HMDA volume.
Down-payment help in Maryland
You rarely need 20% down. These are the main programs from Maryland DHCD, Maryland's housing finance agency; they are offered through participating lenders, usually alongside the agency's own first mortgage.
MMP 1st Time Advantage
The Maryland Mortgage Program's first-time buyer loan with a 0% deferred second lien of 3%, 4% or 5% of the first mortgage, or a flat $6,000 that can be layered with up to $2,500 in Partner Match funds from participating employers and organizations. A 640 minimum credit score applies.
Source: mmp.maryland.govHomeStart 6%
For borrowers at or below 50% of area median income: a 0%, 30-year deferred loan equal to 6% of the first mortgage.
Source: mmp.maryland.govChecked against official sources on October 9, 2026. Assistance amounts, income limits and funding change during the year — confirm current terms with Maryland DHCD or a participating lender.
Maryland's MCC program: closed since June 19, 2020
The Maryland HomeCredit Program (a 25% MCC) closed to new reservations on June 19, 2020 under Directive 2020-11. Existing certificates can be reissued for a refinance. MCC status in all 50 states and DC.
Check current terms at Maryland DHCD, see how a smaller down payment changes your number with the down-payment estimator, or compare assistance in every state.
How these numbers are measured
- Freddie Mac PMMS (30- and 15-year): a weekly average of rates offered to borrowers with 20% down and strong credit, published Thursdays; latest week Nov 5, 2026. Points are not reported.
- Optimal Blue OBMMI (FHA, VA, USDA, jumbo): daily averages of rates actually locked, across credit profiles. Points vary by loan.
- APOR (APR benchmark): FFIEC/CFPB's weekly Average Prime Offer Rate, an APR that includes typical points and fees for a prime borrower. Regulators use it to flag higher-priced loans.
- HMDA 2025 (Maryland vs U.S.): rates, costs, points and down payments on loans that actually closed, reported by lenders to federal regulators. Updated once a year.
- Census ACS 2024 (property tax and insurance): what homeowners with a mortgage in Maryland reported paying — the median real-estate tax divided by the median home value, and the median insurance premium as a share of value. Updated once a year.
- Interest rate vs APR: the rate sets your payment; the APR adds points and lender fees spread over the loan. Compare APRs on Loan Estimates for the same day and loan type.
Rates and APOR refresh every week; HMDA, loan limits and closing-cost averages refresh when their publishers release new data. Reviewed by our editorial team. Full sources and formulas: our methodology.
Maryland mortgage FAQ
What is a good mortgage rate in Maryland right now?
A 30-year fixed close to the national average of 7.18% (Freddie Mac, week of Nov 5, 2026) is a fair benchmark for a borrower with strong credit and 20% down. In 2025, Maryland's conventional buyers paid a median 6.50%.
Quotes well above that usually reflect lower credit, a small down payment or lender credits taken in exchange for a higher rate.
Are mortgage rates higher in Maryland than in other states?
No, if anything slightly lower, once timing and fees are counted. In 2025 HMDA records, Maryland's median conventional 30-year rate was 6.50%, against 6.50% nationally.
Against the benchmark for each loan's lock week, which counts points and fees, Maryland loans priced 0.01 percentage points above it (the 24th-lowest of all 50 states and the District of Columbia), against 0.02 above nationally.
Rates are set mainly in one national market, so your credit, down payment and loan size matter more.
What are current jumbo mortgage rates in Maryland?
The national jumbo 30-year average is 7.25% (Optimal Blue). In 2025, Maryland's jumbo buyers paid a median 6.50%. A loan is jumbo above the $832,750 conforming limit, or above $1,249,125 in Maryland's highest-cost counties.
Jumbo lenders typically want 10–20% down, a 700+ credit score and 6–12 months of reserves.
Should I choose a 15-year or 30-year mortgage?
On a $339,915 loan (20% down on Maryland's median list price), a 30-year at 7.18% costs $2,303 a month and a 15-year at 6.57% costs $2,974.
The 15-year saves about $293,631 in interest but needs $671 more a month, so it fits only if that payment is comfortable.
How much does a 1% difference in mortgage rates change my monthly payment?
On a $339,915 loan (20% down on Maryland's median list price), moving from 7.18% to 8.18% raises the principal-and-interest payment from $2,303 to $2,537, or $234 a month.
Over 30 years that is about $84,333 more in interest, which is why comparing several lenders on the same day matters.
Are mortgage rates different for purchase and refinance loans?
Yes, slightly. In 2025, Maryland's conventional rate-and-term refinances closed at a median 6.13% and purchases at 6.50%, partly because refinances bunch up when rates dip. Refinances priced 0.12 percentage points below the market benchmark; cash-out refinances usually cost more. Your own pricing depends on credit, loan-to-value and points.
How much is a $400,000 mortgage at 7.18% interest?
About $2,710 a month in principal and interest over 30 years. In Maryland, a $500,000 home with that loan adds roughly $392 a month in property tax at the 0.94% effective rate, plus homeowners insurance. Over 30 years the loan costs about $575,506 in interest.
How much income do I need to buy a home in Maryland?
About $118,000 a year for a home at the $424,894 median list price with 20% down, if the full $2,750 monthly payment, including tax and insurance, stays within 28% of gross income.
Smaller down payments add mortgage insurance and raise that figure; existing debts lower what lenders approve.
What down payment assistance is available in Maryland?
Maryland DHCD, the state housing finance agency, runs MMP 1st Time Advantage and HomeStart 6%, offered through participating lenders. Help usually comes as a grant or a deferred or forgivable second loan paired with the agency's first mortgage.
Amounts, income limits and funding change during the year, so confirm current terms with Maryland DHCD or a participating lender before you apply.
- Freddie Mac — Primary Mortgage Market Survey
- FFIEC / CFPB — Average Prime Offer Rates (APOR)
- FFIEC / CFPB — HMDA data browser (2025 loan-level records)
- Optimal Blue OBMMI via FRED (FHA, VA, USDA, jumbo)
- FHFA — 2026 conforming loan limits by county
- U.S. Census Bureau — 2024 American Community Survey microdata (property tax and homeowners insurance)
- HUD — Handbook 4000.1 (FHA mortgage insurance)
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.