Maryland Mortgage Calculator 2026
Calculate your monthly mortgage payment in Maryland. Updated with 2026 Maryland mortgage rates (6.5% avg), property tax (1.09%), and insurance. 10,000+ Maryland homebuyers use this free calculator.
How to Use This Maryland Mortgage Calculator
Enter your home price, down payment, and interest rate to instantly calculate your monthly mortgage payment in Maryland. Results include Principal & Interest (P&I), Property Tax, Homeowners Insurance, and total interest paid.
Maryland Mortgage Rates in 2026
The average mortgage rate in Maryland is currently 6.5% for a 30-year fixed-rate loan. Rates typically range from 6.2% to 6.8% depending on your credit score and down payment.
Maryland Property Taxes
Maryland has an effective property tax rate of approximately 1.09% per year, higher than the national average.
Average Home Price in Maryland
The median home price in Maryland is approximately $380,000. At 20% down ($76,000), your loan amount is $304,000. Monthly P&I at 6.5% is approximately $1,921.
30-Year vs 15-Year Mortgage in Maryland
| Loan Type | Monthly P&I | Total Interest |
|---|---|---|
| 30-Year Fixed @ 6.5% | $1,921 | $387,560 |
| 15-Year Fixed @ 6.5% | $2,648 | $172,640 |
Popular Cities in Maryland
Frequently Asked Questions
What is the average mortgage rate in Maryland?
As of 2026, average Maryland mortgage rates range from 6.2% to 6.8% for a 30-year fixed-rate loan.
How much down payment do I need in Maryland?
Most lenders require 3-20% down. Conventional loans need 5-20%, FHA loans accept as little as 3.5%.
Are property taxes high in Maryland?
Maryland has an effective property tax rate of approximately 1.09% annually.
What is PMI?
PMI is required if down payment is less than 20%. Once you reach 20% equity, you can request cancellation.
What documents do I need for a Maryland mortgage?
Pay stubs, W-2s or tax returns (2 years), bank statements (3 months), valid ID, and debt details.
How long does mortgage approval take in Maryland?
Mortgage approval in Maryland typically takes 30-45 days from application to closing.