Washington, D.C., mortgage and refinance rates for May 2026

Current mortgage rates in Washington, D.C.

As of Wednesday, May 20, 2026, current mortgage interest rates in Washington, DC are 6.46% for a 30-year fixed mortgage and 6.00% for a 15-year fixed mortgage.

Mortgage rates are elevated again after a slight drop early in 2026. Many experts predict that mortgage rates nationwide and in Washington, D.C. will hover in the same territory for the rest of the year. However, questions remain about how tariffs will impact inflation and when the Federal Reserve will cut rates. These two factors are causing uncertainty around the direction rates could go in the near term. 

Refinance rates in Washington, D.C.

Refinance rates tend to follow purchase rates. Many economists believe that rates will hold around or above 6% for the rest of the year. That means, for those who have been waiting for rates to drop to refinance, they may still be waiting for the foreseeable future for rates to drop significantly enough for refinancing to make sense.

There is one exception: If you've owned your property for a long time and have accumulated a sizable chunk of equity, you may be in a good position to do a cash-out refinance. This type of refinance can help you access funds to pursue other financial goals. 

National mortgage rates by loan type

Mortgage options in Washington, D.C.

If you’re looking to get a mortgage in Washington, D.C., there are several options you could potentially qualify for:

• Washington, D.C. conventional mortgages: To qualify for a conventional mortgage, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio of no more than 43%. If you make a down payment of less than 20%, you’ll need to pay private mortgage insurance (PMI) premiums, as well.
• Washington, D.C. FHA loans: If your credit history disqualifies you from a conventional mortgage, you might be able to obtain a loan insured by the Federal Housing Administration (FHA). If you have a down payment of at least 3.5 percent, you could qualify for this type of loan with a credit score as low as 580.
• Washington, D.C. VA loans: If you’re a veteran or active-duty member of the military, you might qualify for a mortgage backed by the Department of Veterans Affairs (VA). A VA loan doesn’t require a down payment or mortgage insurance, but you do need to pay a funding fee, which ranges from 1.25-2.15% for the first use.
• Washington, D.C. jumbo loans: Washington, D.C. is a pricey city, and plenty of properties here fall under the high-end luxury category. If you're looking to borrow more than $1,209,750 — the 2025 conforming loan limit for this location — you'll need to look for a jumbo loan lender. These loans typically come with higher down payment and credit score requirements.

First-time homebuyer programs in Washington, D.C.

D.C. offers programs that first-time homebuyers can take advantage of. These programs include:

• DCHFA Open Doors mortgage: The Open Doors program through D.C.’s housing finance agency (DCHFA) offers both down payment assistance and a low-interest primary loan for qualifying borrowers. To qualify, you must have a credit score of at least 640 and have a maximum income of $275,400, among other requirements.
• DCHFA DC4ME program: The DC4ME program offers a reduced interest rate mortgage for qualifying government employees. To qualify, you must be a first-time homebuyer, and at least one applicant must be employed full-time by the District.
• DHCD Home Purchase Assistance Program (HPAP): The Department of Housing and Community Development (DHCD) offers interest-free loans and closing cost assistance through a program known as HPAP. Currently, all funds are allocated for this program, but the program may open again in the future. Last year, the lottery system for this program opened on October 1, so keep an eye out for updates in that timeframe.

Additional Washington, D.C., mortgage resources