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Matt Pivec with The W Home Group of Next Step Realty

Baltimore Real Estate

Mortgage Rates

  • Home Mortgage Rates
  • 📈Factors That Impact Your Rate
  • Real Estate-Related Calculators 
  • ➗ Mortgage Calculator
  • âž—Affordability Calculator
  • ➗ Buyer Closing Costs Estimator

Home Mortgage Rates

Home Interest Rates
View More Refinance Rates

📈Factors That Impact Your Rate

Your credit score (FICO score)

This is perhaps the best known influencer of your mortgage. FICO considers 5 factors: (1) your payment history, (2) how you utilize your credit, (3) the length of your credit history, (4) new credit accounts, and (5) your credit amount mix.

Lenders want to feel comfortable in your ability to pay back what might be the biggest loan of your life. If you make payments on time, avoid opening too many accounts, among other things, you’ll have a respectively higher credit score. Lenders are looking to offer mortgages to consumers who have high credit scores. With that being said, it doesn’t mean that lenders won’t work with you to help build your credit. There are tips that they can offer you on how to buy a home with bad credit.

Your Down Payment

Everything comes down to risk. The less risk your lender has, the more willing he will compromise of your rate. They have done away with a required 20% down payment on a home. However, the general rule is, the less you put down the higher your rate will be.

It is a good idea to shop around and look at different rates, as they will vary from lender to lender. You may only need to put down 5% to positively influence your mortgage rate.

Your Loan Product

There are a variety of different loans you  may qualify for that may have a positive impact on your mortgage interest rate.

There are 15 – 30 year conventional loans that typically require a 20% down payment, or FHA (Federal Housing Administration) loans that can require as little as 3.5% down and offer more attractive interest rates. However, because FHA loans don’t require 20% down, it may require the buyer to purchase PMI (private mortgage insurance), which protects the lender  if the buyer should default on the payments.

Choosing your loan product is a crucial decision. Our lenders can help you choose which loan product is the best for you.

Your Employment History

In order to secure a loan, your stability of income is considered.

Your Local Market

Rates vary depending on where you live. We can help you find lenders who serve your area.

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Real Estate-Related Calculators 

➗ Mortgage Calculator

Mortgage Calculator

$
  %
  yrs
  %
$

âž—Affordability Calculator

Home Affordability Calculator

Monthly Gross Income $
Monthly Debt Expenses [?]

Monthly Debt and Obligations Should Include:

  1. Monthly Credit Card Payments
  2. Monthly Auto Payments
  3. Monthly Child Support
  4. Monthly Association Fees
  5. Other Monthly Obligations, but NOT utility bills.
$
Down Payment: $
Interest Rate: %

➗ Buyer Closing Costs Estimator

Buyer Closing Costs Estimator

Loan Information
Loan Amount $
View/Edit Closing Cost Details
Traditional Closing Expenses
Discount Points  
Origination Fee %
Lender Processing Fees $
Credit Report $
Appraisal $
Title Insurance $
Reconveyance Fee $
Recording Fee $
Wire and Courier Fees $
Endorsement Fee $
Title Closing Fee $
Title Document Prep Fee $
Other Fees $

 

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Current Mortgage Rates

Current Mortgage News
View Current Mortgage Rates

Contact The Pivec Group

Keller Williams Gateway
8015 Corporate Drive | Suite C
Nottingham | MD 21236
Office: 443-692-8800
Broker: 443-318-8800

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Specialties

We specialize in Baltimore County, Baltimore City, Carroll County, and Harford County Real Estate Including: Towson, Perry Hall, Parkville, Lutherville, Middle River, Federal Hill, Fells Point, Canton, Westminster, Eldersburg, Abingdon, Bel Air, Fallston.

Maryland Counties

Baltimore County, Harford County, Carroll County, Prince George's County, Montgomery County, Anne Arundel County, Calvert County, Queen Anne's County, Wicomico County, Howard County, Dorchestor County, Cecil County, Allegany County, Talbot County, Kent County, Charles County, St. Mary's County, Garrett County, Caroline County, Worcester County, Somerset County, Frederick County, Washington County.
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