Maryland · MD

Maryland Mortgage Calculator

Pre-filled for Maryland: median home price $425,000, average property tax rate 1.05%. Adjust any slider to make it yours.

Maryland housing at a glance

Median home price: $425,000
Effective property tax rate: 1.05% / yr
Annual property tax (median home): $4,463
Est. monthly tax escrow: $372
State income tax: Yes

Sources: regional housing data 2025 (median price), state assessor averages 2024–2025 (tax rate).

Buying a home in Maryland

The median home price in Maryland is around $425,000 and the effective property tax rate averages 1.05%of assessed value per year. Most lenders look for a debt-to-income (DTI) ratio under 43%, meaning your total monthly debt payments (including this mortgage) shouldn't exceed 43% of your gross income.

A 20% down payment on the median home in Maryland is $85,000. Putting down at least 20% eliminates private mortgage insurance (PMI), which typically adds 0.3–1.5% of the loan amount per year to your monthly payment.

Transfer tax & closing costs in Maryland

Maryland's state transfer tax is 0.5% (0.25% for first-time buyers), plus county recordation taxes that vary from $3.50 to $12 per $1,000.

Beyond transfer taxes, total closing costs in Marylandtypically range from 2–5% of the purchase price — including lender origination fees, title insurance, appraisal, and prepaid interest. On the median home that's roughly $8,500–$21,250.

Foreclosure & legal context

Foreclosure type: Non-judicial (trustee sale)
Security instrument: Deed of Trust
Deficiency liability: Recourse

Maryland mortgage FAQ

What is the monthly mortgage payment for a median-priced home in Maryland?: At the current 30-year fixed rate of ~6.81%, a $425,000 home in Maryland with 20% down ($85,000) carries a principal-and-interest payment of ~$2,219/mo. Add property tax (~$372/mo at 1.05%) and homeowners insurance and your total is roughly $2,591/mo. Use the calculator above to adjust for your exact down payment and rate.
What is the property tax rate in Maryland?: The effective statewide property tax rate in Maryland averages 1.05% of assessed value per year. On a $425,000 home, that works out to roughly $4,463 per year ($372/mo). Individual county rates vary.
Does Maryland have a state income tax?: Yes, Maryland has a state income tax. This affects your net take-home pay and therefore your effective purchasing power — use our salary calculator to estimate what's left after tax.
What are the closing costs and transfer taxes in Maryland?: Maryland's state transfer tax is 0.5% (0.25% for first-time buyers), plus county recordation taxes that vary from $3.50 to $12 per $1,000.
What type of foreclosure does Maryland use?: Maryland uses non-judicial (trustee sale) foreclosure, which typically moves faster than court-supervised processes.

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