State homebuying guide
The most useful way to plan a Maryland home purchase is to start broad and then narrow the estimate. I would begin with the statewide benchmark below, test several down payments, and then open the cities that match the actual search area before building a monthly budget. The current benchmark is $428,300, and this guide covers 49 city calculators. That sequence keeps the first estimate simple without hiding the local details that can change a real monthly payment.
Need more than a statewide benchmark?
Use the complete mortgage payment and affordability calculator to enter your own purchase price, income, debts, loan program, closing costs, and extra-payment plan.
Down-payment comparison
These examples use the $428,300 statewide benchmark, a 6.75% 30-year fixed planning rate, the 0.99% midpoint property-tax assumption, and 0.35% annually for homeowners insurance. PMI is illustrated at 1% annually below 20% down.
| Down payment | Cash down | Loan amount | Principal & interest | Property tax | Insurance & PMI | Estimated monthly payment |
|---|---|---|---|---|---|---|
| 5% | $21,415 | $406,885 | $2,639 | $353 | $482 | $3,474 |
| 10% | $42,830 | $385,470 | $2,500 | $353 | $482 | $3,335 |
| 20% | $85,660 | $342,640 | $2,222 | $353 | $125 | $2,701 |
The examples do not include HOA dues, closing costs, discount points, lender fees, flood insurance, or property-specific insurance adjustments. Change the city calculator inputs before using a result for a budget.
Local variation
The available city-page tax assumptions run from 0.68% for Ocean Pines to 1.50% for Greenbelt, with a midpoint of 0.99% used in the statewide examples. That spread is a reminder to verify the parcel, assessment, exemptions, and taxing district before relying on a monthly number. Ocean Pines and Havre de Grace and Greenbelt are useful starting points for seeing how the planning assumptions vary inside Maryland.
These are effective-rate planning assumptions from 2024 public data, published in this system in 2026. Actual tax bills depend on assessed value, exemptions, levies, and the property's taxing districts.
Cash-to-close research
The state-level research list currently contains 8 programs. Maryland SmartBuy 3.0 and HomeAbility Program are included as a place to begin, not as a promise of approval. Funding, income limits, first-time-buyer definitions, participating lenders, and eligible locations can change, so I would confirm the current rules before counting assistance as cash available at closing.
Combines a mortgage with student loan payoff assistance. Provides up to 15% of the home’s purchase price (capped at $20,000) toward student debt, plus a zero-interest down payment assistance loan of $6,000.
Verify program detailsOffers a 30-year fixed-rate first mortgage and a second lien up to 25% of the purchase price (max $45,000) for homebuyers with disabilities. The second loan is zero-interest and payment is deferred for the life of the primary mortgage.
Verify program detailsState down payment assistance offering $6,000 as a zero-interest deferred loan. No payments are due until the primary mortgage is paid off, refinanced, or the home is sold.
Verify program detailsDown payment and closing cost assistance of $5,000 provided as a zero-interest second mortgage (deferred). Repayment is due at the end of the primary mortgage term or upon sale/refinance.
Verify program detailsA practical review
Replace the statewide Maryland benchmark with the price of the homes actually being considered.
Open the relevant city calculator and verify the property-tax assumption against the parcel or local assessor.
Get a property-specific homeowners-insurance estimate and add HOA dues when they apply.
Compare several interest rates and down payments instead of budgeting from one optimistic scenario.
Confirm assistance rules with the official program source before reducing estimated cash to close.
Local calculators
Move from the statewide benchmark to the city that matches the actual search area. Each page carries its local tax geography, home-value benchmark, and nearby comparisons.
49 city pages
Common questions
Using the current $428,300 statewide home-value benchmark, 20% down, a 6.75% 30-year planning rate, the 0.99% midpoint property-tax assumption, and a 0.35% insurance assumption, the estimated monthly payment is $2,701. Actual property, loan, tax, and insurance details can differ.
Yes. The statewide examples use a 0.99% midpoint from the available city-page assumptions. A property-specific estimate should use the actual parcel, assessment, exemptions, and local taxing districts.
The page compares 5%, 10%, and 20% down. A smaller down payment reduces upfront cash but can increase the loan balance and may add mortgage insurance. Program and loan requirements vary.
Start with each linked official program source. Verify current funding, income limits, purchase-price limits, property rules, participating lenders, and first-time-buyer definitions before relying on assistance.
Planning rate
6.75%
Tax midpoint
0.99%
Benchmark period
August 2026
Continue planning
Use the next calculator only when that part of your financial picture affects the decision you are making here.
