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Lender Tables
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Compare Current Westminister, Maryland Mortgage Rates
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.
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Westminister, MD Mortgage Rates as of December 30, 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 Westminister, MD Mortgage Rates
December 30, 2024
Current mortgage rates in Westminister, 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 Westminister, 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 Westminister, Maryland?
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 $423,561
Based on current mortgage rates and a 10% down payment, you need to make $88,362 per year to buy the median priced home in Westminister
With this income, you could qualify for a $381,205 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 $2,046
The median household income for Westminister, MD (Carroll County) is $103,972
Based on this income, you can afford a home valued at approximately $498,390
The home price you can afford to buy based on household income in Westminister is 118% of the median home value which means housing prices are average.
Westminister (Carroll County) ranks 13 out of 24 counties in Maryland and 2,545 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
Loan Limits for Westminister, Maryland
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
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Westminister, MD
1 unit:$632,500
2 units:$809,700
3 units:$978,750
4 units:$1,216,350
VA loan limits for Westminister, MD
1 unit:$726,200
Additional Mortgage Resources for Westminister, MD Residents