Mortgage Calculator for Maryland
Estimate your monthly payment in Maryland using adjustable example inputs and official housing resources.
Enter Your Loan Details
Defaults are illustrative inputs, not local averages. Replace taxes, insurance and rate with property-specific estimates.
Planning a purchase in Maryland
The prefilled price, tax percentage, and interest rate are illustrative inputs, not verified Maryland averages or lender quotes. Replace them with the property's price, a local tax estimate, an insurance quote, and your lender's rate.
The Homestead Credit limits taxable assessment growth
Maryland's Homestead Property Tax Credit limits the assessment increase on which tax is paid for a qualifying principal residence. It is distinct from the income-based Homeowners' Tax Credit, and requires its own application.
For your estimate: Confirm the new owner's qualification with SDAT rather than carrying forward a seller's credit. Ask the lender for an escrow estimate based on your own taxable assessment.
Maryland SDAT: Homestead Tax CreditSmartBuy is a conventional financing option
Maryland SmartBuy 3.0 links an eligible home purchase to paying qualifying student debt in full at closing. The June 2026 program fact sheet specifies conventional first-mortgage financing; it is not an FHA add-on.
For your estimate: If considering SmartBuy, compare the conventional offer separately from an FHA estimate. Ask how student-debt payoff changes qualification and what assistance repayment conditions apply.
Maryland Mortgage Program: June 2026 SmartBuy fact sheetLocal guidance reviewed . Confirm eligibility, funding and property-specific costs directly before making a decision.
Using local estimates in this tool
The tax field multiplies the home's price by a percentage. If your assessor estimates an annual tax bill, divide that bill by the entered home price and multiply by 100. Do not enter an assessment ratio or millage directly. For example, an illustrative $4,800 annual bill on a $400,000 price corresponds to 1.2%; these are not local averages.
This payment includes principal, interest, property tax and home insurance. Budget mortgage insurance, HOA dues, maintenance and closing costs separately.
Official resources and next steps
HUD housing and homeownership resources for Maryland provides further counseling and housing contacts.
For FHA financing, use HUD's county and unit-count lookup. Select Maryland, the property's county, the calendar year, and the number of units. The 2026 national one-unit floor of $541,287 is a baseline, not a determination of the limit for every county in Maryland.
HUD directory reviewed 2026-09-25. HUD state directory. Local figures are not represented as verified statistics.
Amortization Schedule
| Year | Principal Paid | Interest Paid | Tax Paid | Insurance Paid | Balance |
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How to Use This Mortgage Calculator in Maryland
Enter the price of the property you are considering in Maryland, then adjust the down payment and rate. The payment combines principal, interest, property tax, and insurance. It does not include HOA dues, maintenance, or mortgage insurance.
For example, at the illustrative price of $398,000 and 7% down, the base loan is $370,140. These are calculation examples, not a statement about prices or typical buyers in Maryland.
Compare the same home under different rates and down payments. A lower monthly payment from a longer term can still mean more lifetime interest. Confirm taxes and insurance for the property before relying on the estimate.