Maryland mortgages and home buyers, 2025
Incomes, down payments, rates, loan costs, denials and lenders across Maryland's 24 counties, from official HMDA records.
HMDA 2025 data released June 23, 2026
In 2025, lenders reported 54,211 home-purchase mortgages for owner-occupied, single-family homes in Maryland. The median buyer borrowed $405,000 on a home valued at $455,000 and reported a household income of $130,000.
Buyers financed a median 95% of the home's value (roughly 5% down), paid a median 6.625% on 30-year fixed conventional loans and faced median conventional loan costs of $6,150.
Lenders denied 8.6% of completed home-purchase applications.
Key facts
- Home buyers' median income ($130,000) is 12% higher than the U.S. median ($116,000).
- Median conventional loan costs ($6,150) were 10% higher than the U.S. median ($5,570).
- The most common age bracket among borrowers was 25–34 (32.0% of purchase loans).
- 56.3% of purchase mortgages had a single borrower with no co-applicant.
- The most-cited reason for denial was debt-to-income ratio (38.1% of denials with a stated reason).
Conforming limits in Maryland range from $832,750 to $1,249,125 for a one-unit home in 2026. See every Maryland county's 2026 FHA and conforming loan limits.
Maryland counties compared
Click a column to sort. Medians shown with at least 30 loans.
| County | Purchase loans | Median loan | Buyer income | Down payment | 30-yr rate | Loan costs | Denial rate | FHA limit |
|---|---|---|---|---|---|---|---|---|
| Allegany County | 457 | $165,000 | $71,000 | 5.0% | 6.625% | $3,840 | 8.9% | $541,287 |
| Anne Arundel County | 6,184 | $445,000 | $145,000 | 7.8% | 6.625% | $6,580 | 6.1% | $747,500 |
| Baltimore County | 6,668 | $345,000 | $113,000 | 5.0% | 6.625% | $6,110 | 8.0% | $747,500 |
| Calvert County | 1,033 | $425,000 | $136,000 | 5.0% | 6.625% | $7,040 | 4.7% | $541,287 |
| Caroline County | 302 | $275,000 | $87,000 | 3.5% | 6.625% | $5,890 | 9.9% | $541,287 |
| Carroll County | 1,669 | $405,000 | $134,000 | 10.0% | 6.625% | $5,800 | 4.1% | $747,500 |
| Cecil County | 906 | $335,000 | $110,000 | 5.0% | 6.625% | $5,820 | 6.0% | $630,200 |
| Charles County | 2,415 | $435,000 | $131,000 | 3.5% | 6.500% | $6,710 | 11.2% | $1,249,125 |
| Dorchester County | 323 | $265,000 | $92,000 | 5.0% | 6.625% | $6,180 | 10.3% | $541,287 |
| Frederick County | 3,239 | $435,000 | $144,000 | 10.0% | 6.625% | $5,970 | 6.5% | $1,249,125 |
| Garrett County | 142 | $205,000 | $88,000 | 5.0% | 6.625% | $4,530 | 17.4% | $541,287 |
| Harford County | 2,780 | $365,000 | $121,000 | 5.0% | 6.625% | $5,990 | 7.6% | $747,500 |
| Howard County | 2,938 | $505,000 | $174,000 | 20.0% | 6.625% | $6,380 | 6.3% | $747,500 |
| Kent County | 151 | $295,000 | $95,000 | 5.0% | 6.625% | $5,970 | 7.1% | $541,287 |
| Montgomery County | 7,798 | $525,000 | $167,000 | 20.0% | 6.500% | $6,290 | 7.3% | $1,249,125 |
| Prince George's County | 7,364 | $435,000 | $128,000 | 3.5% | 6.625% | $6,400 | 14.0% | $1,249,125 |
| Queen Anne's County | 716 | $425,000 | $152,000 | 15.0% | 6.625% | $6,220 | 4.6% | $747,500 |
| St. Mary's County | 1,241 | $405,000 | $126,000 | 4.3% | 6.625% | $6,570 | 4.5% | $541,287 |
| Somerset County | 151 | $215,000 | $76,000 | 4.0% | 6.830% | $5,160 | 13.8% | $541,287 |
| Talbot County | 322 | $385,000 | $141,000 | 20.0% | 6.750% | $5,730 | 7.0% | $541,287 |
| Washington County | 1,299 | $295,000 | $98,000 | 5.0% | 6.625% | $5,820 | 8.8% | $541,287 |
| Wicomico County | 889 | $265,000 | $83,000 | 5.0% | 6.750% | $5,390 | 11.9% | $541,287 |
| Worcester County | 528 | $335,000 | $130,000 | 20.0% | 6.750% | $5,920 | 9.8% | $541,287 |
| Baltimore city | 4,682 | $265,000 | $96,000 | 3.5% | 6.625% | $5,710 | 11.0% | $747,500 |
Who bought homes in Maryland
Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.
Values are medians; "middle half" is the 25th to 75th percentile.
Loan type
What the homes were for
All first-lien, closed-end purchase mortgages, including second homes and investors.
Borrower age
Debt-to-income ratio
Monthly debts (including the new payment) as a share of income, as used in underwriting.
What borrowing cost in Maryland
Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.
| Measure | Maryland | U.S. |
|---|---|---|
| 30-year fixed rate · conventional | 6.625% | 6.625% |
| 30-year fixed rate · FHA | 6.490% | 6.250% |
| 30-year fixed rate · VA | 6.125% | 6.125% |
| 15-year fixed rate · conventional | 5.750% | 5.875% |
| Rate spread vs. APOR · conventional | +0.14 pts | +0.13 pts |
| Total loan costs · conventional | $6,150 | $5,570 |
| Total loan costs · FHA | $13,040 | $11,310 |
| Total loan costs · VA | $8,910 | $6,490 |
| Origination charges (all loan types) | $2,140 | $1,860 |
| Borrowers paying discount points | 50.8% | 51.3% |
| Points paid, when paid (% of loan) | 0.90% | 0.87% |
| Borrowers receiving lender credits | 33.9% | 33.1% |
| Adjustable-rate mortgages | 5.6% | 7.4% |
| Jumbo loans (above conforming limit) | 3.2% | 3.8% |
Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.
Approvals and denials
Maryland: 5,242 of 60,735 completed home-purchase applications were denied (8.6%).
Denial rate
| Application | Maryland | U.S. |
|---|---|---|
| Home purchase | 8.6% | 8.5% |
| Conventional | 7.0% | 7.1% |
| FHA | 13.6% | 12.5% |
| VA | 7.9% | 8.0% |
| USDA | 8.6% | 12.5% |
| Refinance | 17.4% | 17.9% |
| Cash-out refinance | 36.5% | 33.6% |
Main reason for purchase denials
First reason the lender reported.
Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.
Refinancing in Maryland
Top mortgage lenders in Maryland
| # | Lender | Loans | Share | Denial rate | 30-yr rate* | Spread* | Costs* |
|---|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage, LLC | 5,957 | 7.7% | 13.8% | 6.500% | +0.13 | $5,750 |
| 2 | United Wholesale Mortgage (UWM) | 5,448 | 7.0% | 11.2% | 6.624% | +0.16 | $7,680 |
| 3 | First Home Mortgage Corporation | 3,254 | 4.2% | 2.5% | 6.750% | +0.34 | $9,110 |
| 4 | Freedom Mortgage Corporation | 2,101 | 2.7% | 15.1% | 6.750% | +0.12 | $7,320 |
| 5 | NFM, Inc. | 2,062 | 2.7% | 1.6% | 6.750% | +0.33 | $7,390 |
| 6 | NVR Mortgage Finance, Inc. | 1,852 | 2.4% | 22.3% | 6.500% | +0.06 | $6,360 |
| 7 | Navy Federal Credit Union | 1,659 | 2.1% | 10.9% | 6.500% | −0.07 | $4,130 |
| 8 | Pennymac Loan Services, LLC | 1,585 | 2.1% | 15.1% | 6.624% | +0.11 | $6,110 |
| 9 | CrossCountry Mortgage, Inc. | 1,456 | 1.9% | 3.0% | 6.750% | +0.35 | $7,320 |
| 10 | Towne Bank | 1,444 | 1.9% | 3.1% | 6.625% | +0.17 | $5,540 |
| 11 | Veterans United Home Loans | 1,388 | 1.8% | 10.1% | 6.500% | +0.09 | $4,770 |
| 12 | Primary Residential Mortgage, Inc. | 1,218 | 1.6% | 3.4% | 6.750% | +0.34 | $7,490 |
| 13 | Truist Bank | 1,149 | 1.5% | 6.9% | 6.375% | −0.15 | $5,550 |
| 14 | Prosperity Home Mortgage, LLC | 1,139 | 1.5% | 4.2% | 6.750% | +0.26 | $5,790 |
| 15 | Newrez LLC | 1,106 | 1.4% | 13.5% | 6.625% | +0.25 | $7,690 |
| 16 | First Heritage Mortgage, LLC | 1,102 | 1.4% | 3.8% | 6.500% | +0.06 | $6,050 |
| 17 | JPMorgan Chase Bank, N.A. | 1,031 | 1.3% | 7.7% | 6.500% | −0.04 | $5,120 |
| 18 | CMG Mortgage, Inc. | 1,016 | 1.3% | 1.3% | 6.625% | +0.13 | $5,890 |
| 19 | Fairway Independent Mortgage Corporation | 1,001 | 1.3% | 5.7% | 6.750% | +0.29 | $5,880 |
| 20 | Direct Mortgage Loans, LLC | 986 | 1.3% | 1.9% | 6.625% | +0.28 | $6,670 |
| 21 | Manufacturers and Traders Trust Company | 899 | 1.2% | 7.5% | 6.250% | −0.09 | $5,510 |
| 22 | Guild Mortgage Company | 828 | 1.1% | 3.3% | 6.625% | +0.19 | $6,570 |
| 23 | Embrace Home Loans, Inc. | 756 | 1.0% | 4.3% | 6.625% | +0.16 | $5,990 |
| 24 | Movement Mortgage, LLC | 753 | 1.0% | 5.0% | 6.625% | +0.24 | $5,680 |
| 25 | Meridian Bank | 734 | 0.9% | 4.8% | 6.624% | +0.16 | $5,030 |
Largest lenders in Maryland by 2025 originations. Loans = home-purchase, refinance and cash-out originations (2025); share = share of those loans here; denial rate = home-purchase applications. *Medians for conventional home-purchase loans, shown with at least 20 loans; spread = APR minus the average prime offer rate at rate lock (percentage points); costs = total loan costs (section D).
Metro areas in Maryland
- Baltimore-Columbia-Towson, MD · 25,637 purchases
- Washington, DC-MD · 14,492 purchases
- Frederick-Gaithersburg-Bethesda, MD · 11,037 purchases
- Wilmington, DE-MD-NJ · 6,598 purchases
- Hagerstown-Martinsburg, MD-WV · 3,651 purchases
- Lexington Park, MD · 2,274 purchases
- Salisbury, MD · 1,040 purchases
Source: FFIEC/CFPB HMDA 2025 public LAR; FHFA and HUD 2026 loan limits. Methodology