Maryland mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, your principal and interest, taxes, insurance, and PMI in Maryland. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

Maryland housing market

While Maryland, the Old Line State, is about as affordable as the national average,... with the median homeowner spending over 20% of their income on their home. Keep in mind, however, that it remains one of the more affordable options in the DMV (Delaware-Maryland-Virginia) region. Housing prices grew at a moderate clip of 4.8% in 2018, a trend predicted to continue in 2019.

Your monthly payment
30 year fixed loan term
Monthly payment
Principal & interest


Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types
Total principal: $240,000
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,007$1,446
Mortgage Rate4.125%2.237%*2.988%*
Total interest paid
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,007$1,446
Mortgage Rate4.125%2.237%*2.988%*
Total interest paid

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Principal Paid
Interest Paid
Year 0
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We’ll share an interesting insight here for key milestones in your payoff schedule.

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Principal & interest


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Maryland mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate2.937%2.996%
20-year fixed-rate2.614%2.702%
15-year fixed-rate2.133%2.247%
10-year fixed-rate2.100%2.172%
7/1 ARM2.664%3.276%
5/1 ARM2.455%3.281%
30-year fixed-rate FHA2.451%3.214%
30-year fixed-rate VA2.455%2.736%

Data source: ©Zillow, Inc. 2006 – 2021. Use is subject to the Terms of Use

Today's rate

30-year fixed

Today’s mortgage rates in Maryland are 2.996% for a 30-year fixed, 2.247% for a 15-year fixed, and 3.281% for a 5/1 adjustable-rate mortgage (ARM).

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Maryland's first-time home buyer programs

The Maryland Department of Housing and Community Development, or DHCD, offers several loan programs to help qualified first-time home buyers get a mortgage.

Maryland Mortgage Program 1st Time Advantage

State program

Review DHCD lenders

at NerdWallet

Best for

Low mortgage rates

Down payment assistance

Closing cost assistance

What you need to know

DHCD's 1st Time Advantage loans allow qualified first-time home buyers to get the lowest fixed interest rates available from the Maryland Mortgage Program. One option is the 1st Time Advantage Direct loan, which tends to offer the most competitive rates and allows borrowers to use external forms of...

See full article

Maryland's best mortgage lenders

NerdWallet has done the work for you to pick the best financing partner for you in Maryland.

See full article

Average property tax in Maryland counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Maryland. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

Avg. property tax rate
Avg. home value
Allegany County1.12%$120,400
Anne Arundel County0.83%$360,200
Baltimore city1.52%$154,400
Baltimore County1.06%$259,700
Calvert County0.9%$355,400
Caroline County0.99%$201,200
Carroll County0.99%$336,700
Cecil County1.01%$234,500
Charles County1.18%$318,000
Dorchester County0.97%$179,300
Frederick County1.11%$334,100
Garrett County0.85%$167,100
Harford County1.04%$292,500
Howard County1.18%$444,500
Kent County0.86%$237,400
Montgomery County0.92%$477,800
Prince George's County1.31%$299,700
Queen Anne's County0.8%$343,200
Somerset County0.96%$131,000
St. Mary's County0.92%$294,000
Talbot County0.53%$326,300
Washington County0.96%$219,100
Wicomico County0.98%$167,400
Worcester County0.82%$252,100

Source: American Communities Survey 2016, U.S. Census

Under "Home price," enter the price (if you're buying) or the current value (if you're refinancing). NerdWallet also has a .

Under "Down payment," enter the amount of your down payment (if you’re buying) or the amount of equity you have (if refinancing). A  is the cash you pay upfront for a home, and  is the value of the home, minus what you owe.

On desktop, under "Interest rate" (to the right), enter the rate. Under "Loan term," click the plus and minus signs to adjust the length of the mortgage in years.

On mobile devices, tap "Refine Results" to find the field to enter the rate and use the plus and minus signs to select the "Loan term."

You may enter your own figures for  and , if you don’t wish to use NerdWallet’s estimates. Edit these figures by clicking on the amount currently displayed.

The mortgage calculator lets you click "Compare common loan types" to view a comparison of different loan terms. Click "Amortization" to see how the principal balance, principal paid (equity) and total interest paid change year by year. On mobile devices, scroll down to see "Amortization."

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The mortgage payment calculation looks like this: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

Determining what your monthly house payment will be is an important part of figuring out how much house you can afford. That monthly payment is likely to be the biggest part of your cost of living.

Using NerdWallet’s mortgage calculator lets you estimate your mortgage payment when you buy a home or refinance. You can change loan details in the calculator to run scenarios. The calculator can help you decide:

Mortgage lenders are required to assess your ability to repay the amount you want to borrow. A lot of factors go into that assessment, and the main one is debt-to-income ratio.

Your  is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support. Lenders look most favorably on debt-to-income ratios of 36% or less — or a maximum of $1,800 a month on an income of $5,000 a month before taxes.

» MORE: 

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But most mortgage payments include other charges as well. Here are the key components of the monthly mortgage payment:

Typically, when you belong to a homeowners association, the dues are billed directly, and it's not added to the monthly mortgage payment. Because HOA dues can be easy to forget, they're included in NerdWallet's mortgage calculator.

The mortgage calculator lets you test scenarios to see how you can reduce the monthly payments:

Your monthly payment can go up over time if: