Maryland Mortgage Market Analysis and Trends
Get insights into Maryland's mortgage and housing market based on real loan estimates and actual home sales data.
Maryland Housing Market Overview
Price and Loan Statistics
Average Home Sale Price: $350,000.00
Median Home Sale Price: $350,000.00
Average Loan Amount: $280,000.00
Median Loan Amount: $280,000.00
Down Payment Analysis
Average Down Payment: 20.000%
Median Down Payment: 20.000%
Loan Estimate Analysis
Interest Rate Distribution
Average Loan Estimate Rate: 5.375%
Median Loan Estimate Rate: 5.375%
Competitive Rate Analysis
Average Bid Rate: 0.000%
Median Bid Rate: 0%
Popular Mortgage Types in Maryland
Conventional Loans: 100.000%
FHA Loans: 0.000%
VA Loans: 0.000%
USDA Loans: 0.000%
Market Implications
The high percentage of conventional loans (100.000%) suggests many Maryland homebuyers have strong credit profiles and substantial down payments. FHA loans makeup 0.000% of the market, providing an important alternative for buyers seeking lower down payment options.
Key Findings for Maryland Homebuyers
Price Points: With a median home price of $350,000.00, buyers should plan their budgets accordingly.
Down Payment Trends: The median down payment of 20.000% exceeds traditional requirements.
Loan Type Selection: While conventional loans dominate, FHA loans serve as a vital alternative for many buyers.
Market Analysis Summary
Home prices averaging $350,000.00 with a median of $350,000.00
Substantial down payments, with a median of 20.000%
Strong preference for conventional loans at 100.000% of the market
Understanding these market dynamics can help homebuyers make more informed decisions about their mortgage options and potentially save thousands over the life of their loan.
[Note: All data based on recent loan estimates and home sales in Maryland. Individual circumstances may vary.]