Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Maryland mortgage costs
What a typical Maryland (MD) purchase actually costs each month once property tax, insurance and PMI are included — and how to model your own numbers.
| Median home price | $415,000 |
|---|---|
| 10% down payment | $41,500 |
| Loan amount | $373,500 |
| Principal & interest (30yr @ 6.75%) | $2,423/mo |
| Property tax (1.05%) | $363/mo |
| Homeowners insurance | $125/mo |
| PMI (until 20% equity) | $156/mo |
| Estimated total monthly | $3,066/mo |
Illustrative only, at a 6.75% sample rate with 10% down. Your rate, tax assessment and insurance premium will differ.
What makes Maryland different
County income surtaxes stack on the state rate, so the interest deduction is worth more here than the headline rate implies.
Insurance is comparatively mild: $1,500 a year is the 12th lowest in the country, or $125 a month against $363 of property tax.
Maryland is an expensive place to buy. The median $415,000 is the 17th highest in the country and $72,500 above the national median, putting a 20% deposit at roughly $83,000 before any closing costs.
Property tax outweighs insurance on a median home here, $363 against $125 a month, so an assessment appeal is worth more than a policy switch.
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