Maryland Mortgage Calculator 2026

Calculate your monthly mortgage payment for a home in Maryland (MD). The median home price in Maryland is $397,700, with an effective property tax rate of 1% (ranked #21 nationally). Use our free calculator to compare FHA, VA, USDA, and conventional loan options with real Maryland data.

Maryland Property Tax Information

Maryland has an effective property tax rate of 1%, ranking #21 among all 50 states. The median annual property tax is $3,989 ($332/month). Source: Tax Foundation 2025.

Maryland Loan Limits 2026

FHA loan limit in Maryland: $524,225 (floor) to $1,209,750 (ceiling for high-cost areas). Conforming loan limit: $806,500 (baseline) to $1,209,750 (ceiling). Maryland has designated high-cost areas with higher limits.

Estimated Monthly Payment in Maryland

For a median-priced home of $397,700 with 20% down ($79,540), at 6.5% interest over 30 years: estimated monthly principal and interest is $2,011, plus $332 in property taxes and approximately $125 in homeowner's insurance, for a total estimated payment of approximately $2,468/month.

Maryland Closing Costs

Average closing costs in Maryland are $9,218 (2.03% of purchase price), ranked #4 nationally. Maryland charges a transfer tax on real estate transactions. Source: Bankrate/LodeStar 2025.

Maryland Housing Market 2026

Home prices in Maryland have increased 4.8% year-over-year. Average days on market: 22. Inventory level: low. Currently considered a seller's market.

Down Payment Assistance Programs in Maryland

Maryland offers 3 down payment assistance programs through Maryland Department of Housing and Community Development (DHCD):

  • Maryland Mortgage Program (second mortgage): 0% interest, deferred second mortgage. Multiple DPA options. - Up to Up to $20,000
  • SmartBuy 3.0 (forgivable loan): Helps with student loan debt for first-time buyers. - Up to Up to $30,000 for student debt
  • 1st Time Advantage (second mortgage): For first-time buyers with below-market rates. - Up to Up to $10,000

Contact DHCD: https://dhcd.maryland.gov | Phone: 410-514-7000

Did You Know About Maryland?

  • Maryland has the 4th highest closing costs in the nation
  • DC suburbs have high-cost loan limits
  • Transfer taxes can be 1-3% depending on location
  • SmartBuy program uniquely helps with student debt

Frequently Asked Questions About Buying a Home in Maryland

What is the average property tax rate in Maryland?

The effective property tax rate in Maryland is 1%, with a median annual tax of $3,989. This ranks #21 among all states.

What are the FHA loan limits in Maryland for 2026?

The FHA loan floor in Maryland is $524,225 and the ceiling is $1,209,750 for high-cost areas. The conforming loan limit baseline is $806,500.

How much are closing costs in Maryland?

Average closing costs in Maryland are $9,218, which is approximately 2.03% of the purchase price.

Are there first-time homebuyer programs in Maryland?

Yes, Maryland offers 3 down payment assistance programs through Maryland Department of Housing and Community Development, including grants, forgivable loans, and second mortgages.

Is Maryland a good place to buy a home in 2026?

With a median home price of $397,700 and low inventory, Maryland is currently a seller's market. Home prices have increased 4.8% over the past year.

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Data last updated: 2025-11. This information is for educational purposes only and should not be considered financial advice.