Washington DC Mortgage Rates

Washington, DC, formally known as District of Columbia, not only enjoys a high median household income per the U.S. Census Bureau’s 2015 income and poverty estimates. It also boasts of a high homeownership rate among Latino and black households between 1990 and 2015. How are mortgage rates in the DC metro, you ask.

Shop and compare mortgage rates in the Washington DC area at mortgagesum.com. Enter your zip code and find out today’s rates for buying a home or refinancing. Click here to know more.

Mortgages in Washington DC

Homes in the District have a median price of $349,000 and their values had leapt by 10.9% the past year, currently at $342,000 according to Zillow.

Various mortgage products for refinance or purchase are available in the District of Columbia. They range from the standard mortgage financing to portfolio lending, but the more basic ones are as follows.

  1. 30-year fixed-rate mortgage. As in anywhere in the U.S., the 30-year fixed-rate mortgage is designed to keep your monthly payments low and that could go further down with rates holding at 4%. It also has stable payments because its rate remains fixed over its term.
  2. 15-year fixed-rate mortgage. The 15-year FRM enables you to pay off your mortgage twice as fast as the 30-year FRM. Its rates can be lower than the 30-year although the discrepancy can be negligible sometimes.
  3. 5/1 hybrid adjustable-rate mortgage. It is an adjustable-rate mortgage with a fixed rate for the first five years of the loan; thereafter, the rate will adjust once a year. The 5/1 ARM combines the stability of the fixed-rate mortgage and low rates of an ARM.
  4. Refinance rates. They are practically the same with purchase mortgage rates and vary when you do a rate-and-term refinance (basic) or a cash-out refi. Cash-out involves a larger loan amount so the rates are higher on that one than on a basic refinance.
  5. FHA rates. FHA loans are made for low-to-moderate income households with less stringent guidelines on credit scores and debt-to-income ratios. Rates on FHA loans are also competitively priced.

Moreover, homebuyers and homeowners can benefit from various HUD counseling and homeownership services in the District of Columbia.

Click here to see the latest mortgage rates.

Click Here to Get Matched With a Lender»

Get started today!

It only takes a few minutes to get started and best of all, it’s completely free. Get started finding the best mortgage options for you now.

Start Here

When inquiring about a loan on this site, this is not a loan application. This is not an offer to lend and we are not affiliated with your current mortgage servicer. Upon the completion of your inquiry, we will work hard to match you with a lender or lenders who may assist you with an official loan application and provide loan product eligibility requirements for your individual situation.

When applying for a loan, lenders will commonly require you to provide a valid social security number and submit to a credit check. Consumers who do not have the minimum acceptable credit required by the lender are unlikely to be approved. Minimum credit ratings may vary according to lender and loan product. In the event that you do not qualify for a credit rating based on the required minimum credit rating, a lender may or may not introduce you to a credit counseling service or credit improvement company who may or may not be able to assist you with improving your credit for a fee. Any loan product that a lender may offer you will carry fees or costs including closing costs, origination points, and/or refinancing fees. In many instances, fees or costs can amount to several thousand dollars and can be due upon the origination of the loan product.

This site is in no way affiliated with any news source or government organization and is not a government agency. Not affiliated with HUD, FHA, VA, FNMA or GNMA. This site may contain affiliate and partner links. This website and the company that owns it is not responsible for any typographical or photographic errors. If you do not agree to our terms and policies, then please leave this site immediately. If you submit your mobile number on this website you agree to receive marketing based text messages. Consent is not required for purchase. You will receive up to 4 messages per month. Standard text and data rates may apply. Reply STOP to stop & HELP for help.

Contents of this website are copyrighted property of the owner of this website. All trademarks, logos, and service marks (collectively the "Trademarks") displayed are registered and/or unregistered Trademarks of their respective owners.

In the event that you discovered this website through an advertisement, such advertisement may consist of stock photos, images, video or other publicly available resources. Any spokesperson used is an employee of the advertiser that owns and operates this website and is not a paid spokesperson or influencer.

© 2022 Mortgage.Info is not a government agency or a lender. Not affiliated with HUD, FHA, VA, FNMA or GNMA. We work hard to match you with local lenders for the mortgage you inquire about. This is not an offer to lend and we are not affiliated with your current mortgage servicer.