Maryland Mortgage Rates

When you want to experience everything great about our country, you would have to travel from state to state to get a taste of how great America truly is. But if you do not have the time for that, come live in the state known as ‘Little America’ instead. Maryland instead, America’s “Little America”.

Despite having a relatively small size, the state of Maryland has a huge heart and a huge appetite. If you’re living in Maryland, you’ll know that there is so much county pride. When you tell people which county you are from, it’s like telling them who your family is. And speaking of appetite, it has a particularly huge appetite for crabs. Nothing is more Maryland than blue crab known to be the best in the world.

Maryland’s Cost of Living

The Old Line State is located in the Mid-Atlantic Region. States in this area do not have a cheap cost of living, Maryland is not spared of this. Its average cost of living index is 16 points higher than the national level, at 116. However, Maryland remains one of the more affordable states to live in in the said region.

Houses in Maryland aren’t cheap.  Homes here may be priced more expensively than the national median home price. However, it is still very possible to find a home that fits your budget if you know where to look.

For people looking for homes in Maryland, you won’t have any shortage of houses to check out. The state is dotted with listed homes of various types. From Garrett to Worcester, there are hundreds of homes to choose from.

Mortgage Rates in Maryland

Mortgage rates for 30 year fixed rate loans are still below 4 percent. In September-October 2017, rates play around 3.7 percent to 3.9 percent. For fixed rate mortgages having a 15-year loan term, interest rates hover just above 3 percent. Homeowners planning to refinance their existing mortgages may refer to the same interest rates relatively.

If you are looking for an adjustable rate mortgage, still, interest rates are at their historic lows. As of October 10, 2017, you can take an ARM with a mortgage rate as low as 3.4 percent for the initial number of years specified. The rates will then adjust at least once a year after this initial period stipulated in your loan term.

We Make Your Search Easier

Mortgagesum.com can help you find the best financing loan to buy or refinance a house in Maryland. We have tools to make your search a lot easier.

By answering just a few simple questions, we will be able to find you a local lender that best suits your needs. Always shop for lenders, three the least. This way you will be able to find a mortgage loan with the best offer.

Once you’ve found the right lender, you may start discussing your options.