Compare today's rates for Mortgage Refinance in MD
Mortgage rates for Maryland on Lender411 for 30-year fixed-rate mortgages are at 3.63%. That dropped from 3.63% to 3.63%. The 15-year fixed rates are now at 2.88%. The 5/1 ARM mortgage for Maryland is now at 0.00%.
If you are looking for up to the minute Maryland mortgage rates, you’ve come to the right place. Finding the lowest rates is easy when you have access to our vast network of trusted mortgage professionals in Maryland. Talk to multiple mortgage lenders in MD to compare rate quotes and understand your options.
Why is it critical to find the lowest rate when refinancing? Simply put, this is the entire goal of a refinance. The lower your new rate, the more money you’ll save. While there are many ways to secure a refinance loan, the best option is the no cost refi, which allows you to switch to a new mortgage with a lower rate without paying the fees associated with closing a new loan. This can literally save you thousands of dollars.
The loan types available in Maryland are much like those available elsewhere. One of the most widely available mortgage loan types is the 30 year fixed rate mortgage. As the name implies, this loan comes with a fixed interest rate. This is considered the most financially sound mortgage by many borrowers. Some opt for the 15-year fixed option.
The adjustable rate mortgage (ARM) is another common loan type. You can also pursue a jumbo loan, interest-only loan, balloon mortgage, or other specialized loan type. Whether or not one of these loans fits you will depend entirely on your needs and the requirements of your lender. Government backed loans, such as the FHA loan and the VA loan, are available to those who qualify.
Maryland is regarded as the second wealthiest state in the nation, with its culture said to be split evenly between a distinguished Northern feel and a Southern hospitality. Maryland's climate tends to include hot summers and very cold winters. Maryland is one of the original thirteen colonies, and its major cities include Baltimore, Columbia, Germantown, and Silver Spring.
To learn more about homeownership in Maryland or research MD home buying programs, visit the Maryland HUD portal.
Follow these links to learn more about Maryland mortgages.