Maryland Mortgage Calculator
Estimate your monthly mortgage payment in Maryland. On the state's median home value of $405,000, with a 20% down payment at today's rates, expect a total monthly payment (principal, interest, taxes, and insurance) around $2,516. Adjust every input for your situation.
Monthly Breakdown
- Principal & Interest$2,048
- Property Tax$368
- Home Insurance$100
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $24,575 | $3,621 | $20,953 | $320,379 |
| 2 | $24,575 | $3,864 | $20,711 | $316,515 |
| 3 | $24,575 | $4,123 | $20,452 | $312,392 |
| 4 | $24,575 | $4,399 | $20,176 | $307,993 |
| 5 | $24,575 | $4,693 | $19,881 | $303,300 |
| 6 | $24,575 | $5,008 | $19,567 | $298,292 |
| 7 | $24,575 | $5,343 | $19,232 | $292,949 |
| 8 | $24,575 | $5,701 | $18,874 | $287,248 |
| 9 | $24,575 | $6,083 | $18,492 | $281,165 |
| 10 | $24,575 | $6,490 | $18,085 | $274,675 |
| 11 | $24,575 | $6,925 | $17,650 | $267,750 |
| 12 | $24,575 | $7,389 | $17,186 | $260,361 |
| 13 | $24,575 | $7,883 | $16,691 | $252,478 |
| 14 | $24,575 | $8,411 | $16,163 | $244,066 |
| 15 | $24,575 | $8,975 | $15,600 | $235,092 |
| 16 | $24,575 | $9,576 | $14,999 | $225,516 |
| 17 | $24,575 | $10,217 | $14,358 | $215,299 |
| 18 | $24,575 | $10,901 | $13,673 | $204,397 |
| 19 | $24,575 | $11,631 | $12,943 | $192,766 |
| 20 | $24,575 | $12,410 | $12,164 | $180,356 |
| 21 | $24,575 | $13,242 | $11,333 | $167,114 |
| 22 | $24,575 | $14,128 | $10,446 | $152,986 |
| 23 | $24,575 | $15,075 | $9,500 | $137,911 |
| 24 | $24,575 | $16,084 | $8,491 | $121,827 |
| 25 | $24,575 | $17,161 | $7,413 | $104,665 |
| 26 | $24,575 | $18,311 | $6,264 | $86,355 |
| 27 | $24,575 | $19,537 | $5,038 | $66,818 |
| 28 | $24,575 | $20,845 | $3,729 | $45,972 |
| 29 | $24,575 | $22,241 | $2,333 | $23,731 |
| 30 | $24,575 | $23,731 | $844 | $0 |
Swipe the table sideways to see all columns →
How to use it
A two-minute guide.
The Home Price field is pre-filled with Maryland's median home value (about $405,000). Override with your target home's actual price for a property-specific estimate.
The Property Tax Rate is pre-filled with Maryland's average effective rate of 1.09%. Within Maryland, rates vary by county — if you know your specific local rate from your county assessor or last tax bill, override it for a more precise estimate.
The Home Insurance default reflects Maryland's typical annual premium of approximately $1,200.
Adjust the Down Payment slider to compare scenarios. Below 20% down triggers PMI; the calculator adds it automatically and flags it.
How it works
The math behind the result.
The Maryland median home, in dollar terms. At $405,000 with a 20% down payment, you bring $81,000 to closing (plus closing costs) and take out a $324,000 mortgage. At today's 6.50% 30-year fixed rate, your monthly principal and interest is roughly $2,048.
Maryland's ongoing housing costs. The state's average property tax rate of 1.09% produces about $4,415 per year on a median-priced home — typically paid through escrow with your mortgage. Insurance averages $1,200/year in Maryland.
Total monthly payment (PITI) on the median Maryland home works out to about $2,516/month at current rates with 20% down and no HOA. Putting less down adds PMI; HOA dues add separately if your specific neighborhood requires them.
Your specific city matters. Median home prices vary widely within Maryland — major cities are usually 30-100% above the state median, rural areas can be well below. For city-specific calculators with local home prices pre-filled, use the city links below.
Questions
Frequently asked.
Want a more local estimate? See our city-specific Maryland mortgage calculators or check Maryland property tax rates.
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