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Lender Tables
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Compare Current Lexington Park, Maryland Mortgage Rates
Compare Lexington Park, 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 Lexington Park.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Lexington Park. Plus, shopping lenders is free and there is no obligation.
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Lexington Park, MD Mortgage Rates as of December 21, 2024
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Lexington Park, MD Mortgage Rates
December 21, 2024
Current mortgage rates in Lexington Park, MD are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)
Mortgage Program
Today's Lexington Park, MD Rates
National Average
Comparison
30 Year Fixed Rate
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6.670%
15 Year Fixed Rate
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5.960%
5/1 Adjustable Rate Mortgage
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6.250%
How Affordable is Housing in Lexington Park, Maryland?
Below we provide helpful information on the real estate market, home prices and housing affordability in Lexington Park. Understand how much you need to earn to afford a home in Lexington Park, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Lexington Park 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 Lexington Park is right for you.
The median home value for Lexington Park, MD (St. Marys County) is $383,843
Based on current mortgage rates and a 10% down payment, you need to make $80,076 per year to buy the median priced home in Lexington Park
With this income, you could qualify for a $345,459 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 Lexington Park is $1,854
The median household income for Lexington Park, MD (St. Marys County) is $109,980
Based on this income, you can afford a home valued at approximately $527,186
The home price you can afford to buy based on household income in Lexington Park is 137% of the median home value which means housing prices are average.
Lexington Park (St. Marys County) ranks 3 out of 24 counties in Maryland and 2,178 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Lexington Park, MD is average
Loan Limits for Lexington Park, Maryland
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Lexington Park (St. Marys County) below.
Conforming loan limits for Lexington Park, MD
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Lexington Park, MD
1 unit:$472,030
2 units:$604,400
3 units:$730,525
4 units:$907,900
VA loan limits for Lexington Park, MD
1 unit:$726,200
Additional Mortgage Resources for Lexington Park, MD Residents