Maryland's diverse housing market requires careful consideration of county-level costs and local regulations. Our mortgage calculator helps you navigate these complexities by providing personalized estimates based on your specific location and loan details. Whether you're buying in the competitive D.C. suburbs or more affordable areas like Western Maryland, understanding your full monthly costs is crucial for making an informed homebuying decision.
Calculate Your Maryland Mortgage Payment
Enter the home price, down payment, and interest rate to see your estimated monthly payment including principal, interest, taxes, and insurance.
Calculator Tips for Maryland Homebuyers
Get the most out of your mortgage calculation with these expert tips.
Compare Loan Terms
Try 15-year vs 30-year terms to find the right balance of payment size and total interest paid over the life of your loan.
Down Payment Impact
Increasing your down payment by even 5% can significantly reduce your monthly payment and help you avoid paying PMI altogether.
Include All Costs
Remember to budget for property taxes, homeowners insurance, and potential HOA fees when estimating your true monthly housing cost.
Get Exact Numbers
Contact NMHL for current rates specific to your credit profile and loan amount. Our calculators estimate — we can provide exact figures.
Turn Numbers Into Your New Home
This calculator gives you a solid starting point. When you are ready for exact numbers based on your credit profile and down payment, our loan officers provide personalized quotes — no obligation, no surprises.
Your Path to a Maryland Mortgage
From calculator to closing — here is how it works.
Choose Your Program
Explore FHA, VA, conventional, and other loan types to find the best fit for your situation.
Get Pre-Approved
Submit a quick application to see what you qualify for — no impact to your credit score.
Calculate Your Payment
Use our calculator with your actual rate to see exactly what your monthly payment will be.
Close on Your Home
Our team guides you through closing with dedicated support at every step.
Loan Programs Available in Maryland
Click a program to explore rates, requirements, and benefits.
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Understanding Maryland's Mortgage Landscape
Maryland's housing market presents unique challenges and opportunities for homebuyers. From the premium prices of D.C. suburbs like Montgomery County to the more affordable communities in Western Maryland and the Eastern Shore, understanding local market conditions is crucial.
- Median home prices vary significantly across the state
- County-level property tax rates differ substantially
- Transfer and recordation taxes add to closing costs
Research your specific county's property tax rate for the most accurate estimates.
County-Level Property Tax Variations
One of the most significant factors affecting your monthly mortgage payment in Maryland is the county property tax rate. These rates vary dramatically across different jurisdictions:
- Worcester County: 0.67%
- Howard County: around 1.0%
- Baltimore City: over 1.20%
This variation can result in hundreds of dollars in monthly payment differences for the same home price in different counties.
Use our calculator to compare monthly payments in different Maryland counties.
Maryland-Specific Mortgage Considerations
Beyond standard mortgage calculations, Maryland homebuyers must consider state-specific costs and regulations:
- Transfer taxes: 0.5% state + county-specific rates
- Recordation taxes: $7 per $500 of value
- Homestead Tax Credit: limits annual assessment increases
These factors can significantly impact your total cost of homeownership.
Factor these additional costs into your homebuying budget.
Using Our Maryland Mortgage Calculator
Our calculator is designed to provide accurate, personalized estimates for your Maryland mortgage. By inputting your specific home price, loan details, and county information, you'll get a comprehensive breakdown of your monthly costs, including:
- Principal and interest
- Property taxes based on your specific county rate
- Homeowners insurance estimates
- Private mortgage insurance (PMI) if applicable
This detailed information helps you make informed decisions about your home purchase.
Maryland Mortgage Calculator FAQs
As of current data, Maryland's median home price is around $430,000, though it varies significantly by county and region.
Yes, the Maryland Department of Housing offers programs with down payment assistance up to $5,000 and reduced transfer tax rates for first-time buyers.
Property taxes are assessed at the county level, ranging from 0.67% to over 1.20%. The Homestead Tax Credit limits annual assessment increases.
Maryland follows the baseline conforming loan limits, which are $766,550 for most counties, though some high-cost areas may have higher limits.
Maryland requires certain mortgage disclosures and has specific rules regarding foreclosure procedures and homeowner protections.
Maryland Mortgage Resources
Ready to Buy a Home in Maryland?
Get a personalized mortgage quote from NMHL. Our Maryland-licensed loan officers are ready to help you find the best rate.