Mortgage Rates in Milford Mill, Maryland — March 2026
Updated March 2026 | Based on Milford Mill market data and regional lending conditions
Milford Mill is a growing city in Maryland with a population of 30,019. The current 30-year fixed mortgage rate in Milford Mill is 6.6%, which is 0.05% below the national average. With a median home price of $367,000 and a 20% down payment of $73,400, homebuyers can expect a monthly principal and interest payment of approximately $1,875.
Current Mortgage Rates in Milford Mill, MD
Below are the current average mortgage rates available in the Milford Mill area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.6% | 6.65% | -0.05% |
| 15-Year Fixed | 5.87% | 5.89% | -0.02% |
| 5/1 ARM | 6.16% | 6.15% | +0.01% |
| FHA | 6.43% | 6.25% | +0.18% |
| VA | 6.18% | 6.05% | +0.13% |
| Jumbo | 6.85% | 6.85% | 0% |
Milford Mill Housing Market Overview
The Milford Mill housing market reflects moderate demand with prices near the national average. The median household income in Milford Mill is $77,800, and the cost of living index is 112.8 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $93,600 to comfortably afford the median-priced home in Milford Mill, which exceeds the current median household income.
Monthly Payment Breakdown for Milford Mill
Based on the median home price of $367,000 with 20% down ($73,400), here is what you can expect to pay monthly in Milford Mill:
15-Year vs. 30-Year Mortgage in Milford Mill
Choosing a 15-year mortgage in Milford Mill at 5.87% instead of a 30-year at 6.6% would save you $232,740 in total interest over the life of the loan. However, your monthly payment would be $2,457 instead of $1,875 — an increase of $582 per month.
Calculate Your Milford Mill Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Milford Mill
What are the current mortgage rates in Milford Mill, MD?
As of March 2026, the average 30-year fixed mortgage rate in Milford Mill, Maryland is 6.6%, while the 15-year fixed rate is 5.87%. FHA loans average 6.43% and VA loans 6.18%. These rates are 0.05% below the national average of 6.65%.
How much is a monthly mortgage payment in Milford Mill?
Based on the median home price of $367,000 with 20% down, the estimated monthly mortgage payment in Milford Mill is $1,875 for principal and interest. Including property taxes of $309/month, the total monthly housing cost is approximately $2,184.
What income do I need to buy a home in Milford Mill?
Using the 28% rule, you would need an annual income of approximately $93,600 to afford the median-priced home in Milford Mill at $367,000. The median household income in Milford Mill is $77,800. This means most households would need to either earn above the median or consider homes below $367,000.
Is Milford Mill a good place to buy a home in 2026?
Milford Mill has a moderate cost of living with a cost of living index of 112.8 (national average = 100). The property tax rate in Maryland is 1.01%, which is near the national average. Milford Mill has a population of 30,019 and offers a balanced lifestyle.
Mortgage Rates in Other Maryland Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Milford Mill, Maryland area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.