Mortgage Rates in Silver Spring, Maryland — April 2026
Updated April 2026 | Based on Silver Spring market data and regional lending conditions
With a population of 81,015, Silver Spring, Maryland offers a higher cost of living that reflects strong local demand. The current 30-year fixed rate here is 6.7% (0.61% above the national average). The median home price of $475,000 translates to roughly $2,876/month with 20% down — requiring an income of about $123,257, which exceeds the local median of $72,250.
Whether you call it a 30-year mortgage, 30-year home loan, 30-year house loan, or 30-year mortgage loan, the underlying product is the same: a fixed-rate amortizing loan paid over 360 months. In Silver Spring, MD, the current 30-year rate is 6.7%. Shorter terms (15-year fixed at 5.94% or 20-year fixed, typically priced between the 15- and 30-year) reduce total interest paid but increase monthly payments — see our 15-year vs 30-year comparison for the math. Government-backed options include FHA loans (6.3%) and VA loans (6.1%), often available at lower rates with reduced down payment requirements.
Current Mortgage Rates in Silver Spring, MD
Below are the current average mortgage rates available in the Silver Spring area as of April 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 | 6.7% | 6.09% | +0.61% |
| 15-Year Fixed | 5.94% | 5.58% | +0.36% |
| 5/1 ARM | 6.2% | 5.95% | +0.25% |
| FHA | 6.3% | 5.85% | +0.45% |
| VA | 6.1% | 5.65% | +0.45% |
| Jumbo | 6.9% | 6.25% | +0.65% |
Silver Spring Housing Market Overview
Housing in Silver Spring sits near the national average at $475,000. With a median household income of $72,250 and a cost of living index of 118.5, some buyers may need to look at lower price points or consider larger down payments.
Monthly Payment Breakdown for Silver Spring
Based on the median home price of $475,000 with 20% down ($95,000), here is what you can expect to pay monthly in Silver Spring:
15-Year vs. 30-Year Mortgage in Silver Spring
Choosing a 15-year mortgage in Silver Spring at 5.94% instead of a 30-year at 6.7% would save you $307,800 in total interest over the life of the loan. However, your monthly payment would be $3,194 instead of $2,452 — an increase of $742 per month.
Calculate Your Silver Spring Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Silver Spring
What are the current mortgage rates in Silver Spring, MD?
As of April 2026, the average 30-year fixed mortgage rate in Silver Spring, Maryland is 6.7%, while the 15-year fixed rate is 5.94%. FHA loans average 6.3% and VA loans 6.1%. These rates are 0.61% above the national average of 6.09%.
How much is a monthly mortgage payment in Silver Spring?
Based on the median home price of $475,000 with 20% down, the estimated monthly mortgage payment in Silver Spring is $2,452 for principal and interest. Including property taxes of $424/month, the total monthly housing cost is approximately $2,876.
What income do I need to buy a home in Silver Spring?
Using the 28% rule, you would need an annual income of approximately $123,257 to afford the median-priced home in Silver Spring at $475,000. The median household income in Silver Spring is $72,250. This means most households would need to either earn above the median or consider homes below $475,000.
Is Silver Spring a good place to buy a home in 2026?
Silver Spring has a moderate cost of living with a cost of living index of 118.5 (national average = 100). The property tax rate in Maryland is 1.07%, which is near the national average. Silver Spring has a population of 81,015 and offers a balanced lifestyle.
Mortgage Rates in Other Maryland Cities
Related Tools & Guides
📊 Sources & Methodology
- 30-yr/15-yr fixed rates: Freddie Mac Primary Mortgage Market Survey (PMMS), weekly national average adjusted for Maryland regional spread.
- Median home price: $475,000 sourced from Redfin / Zillow real estate listings (2026 data).
- Property tax rate: 1.07% effective rate per Tax Foundation 2026 state property tax data.
- Median household income: $72,250 per US Census Bureau ACS 5-year estimate.
- Calculations: standard amortization formula M = P[r(1+r)^n] / [(1+r)^n − 1], with r = monthly rate, n = 360 months, P = loan amount (80% of home price).
Last updated: April 2026. Rates are approximate averages based on regional lending data for the Silver Spring, Maryland area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.