Maryland mortgage payment calculator

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Maryland at a glance

Median home price
$463,449
Typical closing costs
2%–5% of price
Transfer tax
0.5% of sale price, customarily paid by split between buyer and seller
Closing custom
attorney
Homestead exemption
Maryland's Homestead Property Tax Credit is not an exemption on the home's assessed value but a credit that caps how much a primary residence's TAXABLE assessment can increase year over year — the state caps this at 10% per year, and individual counties/municipalities may set a lower local cap (0%-10%; e.g. Montgomery County uses 10% statewide except the Town of Kensington at 5%). It does not limit the property's actual market value or assessment as determined by the Department of Assessments and Taxation, only the portion subject to tax. Homeowners must file a one-time application with the Maryland Department of Assessments and Taxation (SDAT) to receive the credit; it does not apply automatically to a newly purchased home in the year of purchase.

First-time buyer / down payment assistance programs

  • Maryland Mortgage Program (MMP) 1st Time Advantage

    Maryland Department of Housing and Community Development's primary low fixed-rate 30-year first mortgage for first-time homebuyers statewide (exceptions for veterans and buyers in targeted areas), offered through DHCD-approved private lenders. Several product variants bundle down payment assistance (DPA): '1st Time Advantage Direct' has no built-in DPA but allows external assistance; '1st Time Advantage 6000' includes a $6,000 zero-interest deferred second-lien loan; percentage-based variants add DPA equal to 3%, 4%, or 5% of the first mortgage amount; and 'HomeStart' provides 6% of the loan amount in DPA for borrowers at or below 50% of Area Median Income. All deferred DPA loans are repaid when the first mortgage is paid off, refinanced, or the home is sold/transferred.

  • MMP Partner Match Down Payment Assistance

    Maryland Mortgage Program partner organizations (employers, builders, local governments, and community organizations) can match a portion of a borrower's own down payment assistance funds — up to an additional $2,500 — when paired with certain MMP first mortgage products (including 1st Time Advantage 6000 and Flex 6000).

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Mortgage points calculator

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Closing Costs in Maryland: What You'll Actually Pay

9 min read

Maryland stacks a 0.5% state transfer tax on top of a county recordation tax that runs from 0.5% to 1.4%. Here's what closing on a $463,449 home costs.

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Maryland guide

Closing Costs in Maryland: What You'll Actually Pay

  • Maryland charges two separate closing taxes that stack: a 0.5% state transfer tax on the sale price, plus a county recordation tax on the instrument being recorded.
  • There is no single statewide recordation rate — counties set their own, and most land between 0.5% and 1.4%, which on a $370,759 loan is a spread of $1,854 to $5,191.
  • At the statewide median sale price of $463,449, a 2-5% closing cost range works out to about $9,269 to $23,172, with a midpoint near $16,221.

Most states charge you one tax for the privilege of buying a house. Maryland charges two, and they stack.

The first is easy to look up: a state transfer tax of 0.5% of the sale price, or $2,317 on Maryland's median sale price of $463,449. The second catches people. Counties also levy a recordation tax on the documents recorded at closing, and state law lets each county set its own rate, so there's no statewide number to look up. Most land between 0.5% and 1.4%, Montgomery County's tiered schedule climbs to $11.35 per $500 on higher balances, and a flat $40 surcharge rides along statewide.

Half of Maryland's closing tax therefore depends on which side of a county line your house sits on. On a $370,759 loan, 0.5% is $1,854 and 1.4% is $5,191 — same loan, same state, $3,337 apart.

Below is where Maryland's money actually goes. Our full line-by-line breakdown of closing costs covers how each individual fee works, so this article can stay on what's specific to Maryland.

A note before you start: this is general education, not financial, legal, or tax advice. Every figure below is a statewide number from CalculatorByState's sourced dataset, and your county, lender, title company, attorney, and contract will all move the total. Maryland's recordation rates are set county by county, so the only rate that matters is the one where your deed gets recorded. Your Loan Estimate and Closing Disclosure are authoritative; use this to sanity-check them, not to replace them.

1. What closing costs actually run in Maryland

A 2-5% range against Maryland's $463,449 median sale price gives you roughly $9,269 to $23,172, with a midpoint around $16,221. On a $350,000 purchase, the same range is about $7,000 to $17,500.

That's a wide band, and in Maryland the width isn't vagueness. It's the county recordation rate doing most of the work, plus the attorney fee that comes standard here. Two buyers at the same price in different Maryland counties can be thousands apart on identical loans.

Read the full Maryland guide →9 min read · Updated 2026-08-24