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Maryland Mortgage Refinance Rates

Get a Lower rate in Maryland whether you’re looking to reduce your monthly payment, change your loan term or refinance into a different rate.

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Current Maryland Home Refinance Rates

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Refinance Rates Trend in Maryland

Historical rates shown for context only. See full disclosures below and current rates in the table above. View Legal Disclosures

Rates as of November 6, 2026 · Avg Maryland property tax: 1.57% · Avg annual home insurance: $2,807

Today’s 30-year fixed refinance rate in Maryland is 6.875% (7.248% APR), and a 15-year is 6.375% (6.966% APR). On a typical $247,000 Maryland loan, that’s about $1,623 a month in principal and interest over 30 years or $2,135 over 15. These figures use a typical Maryland home price of $352,400 (the average of the median prices in its largest cities) and a loan at 70% of that value. Your numbers depend on your balance, your home’s value and your credit.

How much could you save by refinancing in Maryland?

Monthly savings on a $247,000 balance if you refinance into today’s 30-year fixed rate of 6.875% (7.248% APR), by the rate you have now. If your current rate is at or below about 6.875%, a rate-and-term refinance at today’s rate won’t lower your payment; a cash-out refinance or HELOC may fit better if you need cash.

Your current rate Payment now New payment Monthly savings Break-even
7.500% $1,727 $1,623 $104 88 months
8.000% $1,812 $1,623 $190 48 months
8.500% $1,899 $1,623 $277 33 months

Principal and interest only, comparing 30-year payments on the same $247,000 balance. New payment at 6.875% (7.248% APR) with 2.500 discount points. Break-even divides the points and lender fees built into that APR (about $9,094 on this loan) by the monthly savings; title, appraisal and other third-party closing costs add to that (try our refinance break-even calculator with your own numbers). Restarting a 30-year term can mean more total interest even when the payment drops.

Refinance payments in Maryland's largest cities

Estimated monthly cost after refinancing a loan at 70% of each city’s median home price into today’s 30-year fixed rate of 6.875% (7.248% APR), with local property taxes and homeowners insurance.

City Median price Loan (70%) Principal & interest Taxes & insurance Total monthly
Baltimore $210,000 $147,000 $966 $509 $1,474
Hagerstown $329,000 $230,000 $1,511 $566 $2,077
Salisbury $292,945 $205,000 $1,347 $529 $1,876
Columbia $450,000 $315,000 $2,069 $688 $2,757
Towson $447,499 $313,000 $2,056 $685 $2,741
Lexington Park $385,000 $270,000 $1,774 $622 $2,396

Principal and interest at 6.875% (7.248% APR) (30-year conforming refinance). Median prices from Movoto market trends, September 2026.

15-year vs. 30-year refinance in Maryland

On a typical $247,000 Maryland loan, a 15-year refinance costs about $512 more a month than a 30-year, but saves about $199,895 in interest over the life of the loan.

Loan term Rate (APR) Principal & interest Total interest
30-year fixed6.875% (7.248% APR)$1,623$337,141
15-year fixed6.375% (6.966% APR)$2,135$137,246

Conforming refinance rates for Maryland as of November 6, 2026. Total interest assumes you keep the loan for the full term and make every scheduled payment. Taxes and insurance are the same for either term.

Refinance options in Maryland by loan type

The examples above assume you’re refinancing into a conventional loan. If you have an FHA or VA loan, owe more than the conforming limit, or want to take cash out, one of these options may fit better.

If you have an FHA loan

FHA streamline refinance

Refinance an existing FHA loan with limited credit documentation and often no appraisal. FHA mortgage insurance still applies.

If you have a VA loan

VA IRRRL

The VA’s Interest Rate Reduction Refinance Loan lowers your rate with less paperwork than a standard refinance, with no monthly mortgage insurance.

If you owe more than $832,750

Jumbo refinance

A balance above the county’s 2026 conforming loan limit refinances into a jumbo loan. Some Maryland counties have higher limits, up to $1,249,125.

If you need cash

Cash-out refinance or HELOC

A cash-out refinance replaces your loan with a larger one and pays you the difference. A HELOC lets you borrow against your equity and keep your current rate.

Maryland refinance programs

The Maryland Mortgage Program (MMP), run by the Maryland Department of Housing and Community Development, offers a 30-year fixed conventional refinance for owner-occupied homes, with loan-to-value up to 97%. It’s a limited cash-out refinance, MMP income and loan limits apply, and an existing MMP down payment loan may be able to stay in place. See MMP refinance details.

Maryland refinance FAQs

What are refinance rates in Maryland today?

As of November 6, 2026, Lower’s 30-year fixed refinance rate in Maryland is 6.875% (7.248% APR) and the 15-year is 6.375% (6.966% APR). FHA refinances start at 6.490% (7.400% APR) and VA refinances at 6.500% (6.853% APR). Your rate depends on your credit, equity, loan amount and points.

When does refinancing make sense in Maryland?

When the monthly savings pay back your closing costs before you sell or refinance again. On a typical $247,000 Maryland loan, going from 8.000% to today’s 6.875% (7.248% APR) saves about $190 a month, and the points and lender fees in today’s quote (about $9,094) take about 48 months to recover. Compare the new term too: restarting at 30 years can add interest even when the payment drops.

Does the Maryland Mortgage Program offer a refinance program?

Yes. The Maryland Mortgage Program offers a 30-year fixed conventional refinance up to 97% loan-to-value for owner-occupied homes. It’s limited cash-out, and MMP income and loan limits apply.

Do Baltimore, Hagerstown or Salisbury have higher conforming loan limits?

No. They use Maryland’s baseline $832,750 limit for a one-unit home in 2026. A refinance above the limit is a jumbo loan, priced today at 7.000% (7.245% APR) for 30 years.

Can I refinance a VA loan in Maryland?

Yes. If your current mortgage is VA-backed, a VA Interest Rate Reduction Refinance Loan (IRRRL) can lower your rate with less paperwork than a standard refinance. Lower’s 30-year VA refinance rate in Maryland is 6.500% (6.853% APR) today. VA and lender requirements apply.

Related Maryland mortgage pages

Movoto market trends data, September 2026, for each city. Cities are the state's largest by Census Bureau population estimates (Vintage 2024) among cities with Movoto data; where a city has too few sales, the next-busiest markets by homes sold fill in. Conforming loan limits: FHFA, 2026. Property tax estimates use county effective rates from the American Community Survey; homeowners insurance estimates are average annual premiums from The Zebra; your quote will vary. Rates as of November 6, 2026. Examples only; not an offer of credit. Your rate and payment depend on your credit, down payment, loan type and other factors.

Loan Officers in Maryland

Nick Muro

Nick Muro

Branch Manager

NMLS ID# 17542

Zachary Asbell

Zachary Asbell

Loan Officer

NMLS ID# 1535031

Kevin Kane

Kevin Kane

Loan Officer

NMLS ID# 460613

Cary Jordan

Cary Jordan

Loan Officer

NMLS ID# 2514934

Lisa Gaton-Rapena

Lisa Gaton-Rapena

Sr. Loan Officer

NMLS ID# 450539

Jackie Simpson

Jackie Simpson

Loan Officer

NMLS ID# 261116

Kristen Moyes

Kristen Moyes

Loan Officer Assistant

NMLS ID# 278116

Clifford Brown

Clifford Brown

Sr. Loan Officer

NMLS ID# 510012

Yvonne Diallo

Yvonne Diallo

Sr. Loan Officer

NMLS ID# 1311850

Patrick Joyce

Patrick Joyce

Loan Officer

NMLS ID# 197039

Shawn Wilson

Shawn Wilson

Sr. Loan Officer

NMLS ID# 175597

Scott Asbell

Scott Asbell

Branch Manager

NMLS ID# 270856

Wlil Gray

Wlil Gray

Sr. Loan Officer

NMLS ID# 75971

All Loan Officers in Maryland

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My Loan Oficer Patrick Joyce was so easy to work with. And he guided me though the process and explain everything. Patrick my my first home buying a joy and great experience.

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Here’s a shorter, clean version: Sean Wilson, our loan officer, was very hands-on and walked us through the process step by step, leaving no questions unanswered. He educated us throughout the entire journey and was able to close on our home in… just 30 days, even though we had been in the process for 90. I truly appreciate his dedication and will gladly recommend him to anyone looking to buy a home.

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VERY informative knowledge patient i I mean if you had a question he would answer it immediately. I HIGHLY RECOMMEND HIM Thanks Shawn and your TEAM

Kevin B.

Verified Customer
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Brother Shawn made every effort to ensure I understood every step of the process.

Shareta R.

Verified Customer
4.83

User friendly portal.

Michele M.

Verified Customer
4.83

Communication with entire team and constant help they provided.

Joshua T.

Verified Customer

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