Find the best mortgage rates and options in Maryland with WiseIQ. Compare 30-year fixed, 15-year fixed, FHA, and VA loan options tailored for the Maryland housing market.
A 0.5% difference in mortgage rate on a $350,000 loan saves over $35,000 in interest over 30 years. Always get at least 3 quotes before choosing a lender.
Maryland, known as the Old Line State, has a population of 6.2M with a median household income of approximately $87,000. The current unemployment rate stands at 2.9%, which lenders consider when evaluating applications from Maryland residents.
Major financial hub: Baltimore is the primary financial center for Maryland residents, with access to both national and regional lenders.
Median Household Income (2024)
Total Population (2023)
Unemployment Rate
Issuer/Lender: U.S. Bank
APR Range: Competitive
Key Benefit: Wide range of loan products and personalized service.
Wells FargoIssuer/Lender: Wells Fargo
APR Range: Varies by product
Key Benefit: Extensive branch network and diverse mortgage options.
Bank of AmericaIssuer/Lender: Bank of America
APR Range: Market competitive
Key Benefit: Special programs for first-time homebuyers and existing customers.
Issuer/Lender: PNC Bank
APR Range: Tailored to borrower
Key Benefit: Strong presence in Maryland and personalized guidance.
Rocket MortgageIssuer/Lender: Rocket Mortgage
APR Range: Competitive online rates
Key Benefit: Fast and convenient online mortgage process.
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| Loan Type | Interest Rate | APR | Lender |
|---|---|---|---|
| 30-Year Fixed | 6.75% | 7.033% | Rocket Mortgage |
| 15-Year Fixed | 5.75% | 5.99% | NerdWallet (Average) |
| 30-Year FHA | 5.99% | 6.831% | Rocket Mortgage |
| 30-Year VA | 6.25% | 6.95% | Veterans United |
| 5/1 ARM | 6.80% | 7.50% | Bankrate (Average) |
| 30-Year Fixed Jumbo | 5.875% | 6.059% | Rocket Mortgage |
Compare personalized offers from top lenders and secure your dream home with WiseIQ.
Get Personalized Rates NowA higher credit score can qualify you for lower interest rates. Check your score and improve it if necessary before applying.
Consider 30-year fixed, 15-year fixed, FHA, VA, and ARM loans. Each has different benefits depending on your financial situation and goals.
Don't settle for the first offer. Compare rates and terms from multiple lenders to find the most competitive deal.
Beyond the interest rate, consider closing costs, fees, and points, which can significantly impact the overall cost of your mortgage.
As of April 2026, the average 30-year fixed mortgage rate in Maryland is around 6.71%, and the 15-year fixed rate is approximately 5.83%. These rates can fluctuate daily.
Mortgage rates are influenced by various factors including the national economy, inflation, Federal Reserve policies, your credit score, down payment, and the specific lender.
Yes, the Maryland Mortgage Program (MMP) offers various loan products and down payment assistance for eligible first-time homebuyers and other residents. You can find more information on the MMP website.
A fixed-rate mortgage offers stable monthly payments, ideal for long-term planning. An ARM typically starts with a lower rate but can change over time, which might be suitable if you plan to move or refinance before the adjustment period ends.
To secure the best rate, maintain a good credit score, save for a substantial down payment, compare offers from multiple lenders, and consider working with a mortgage broker who can access various loan products.