Buying a home in Maryland

Maryland's effective property-tax rate is about 0.902%of a home's value per year, about the same as the U.S. average of 0.888%. On a $500,000 home that's roughly $4,510 a year.

Full Maryland property-tax guide →

Maryland involves an attorney at closing, and Transfer taxes vary in MD — confirm locally. On a $400,000 home, estimated closing costs run about $8,451–$12,551 on top of your down payment.

Full Maryland closing-costs guide →

Maryland runs a housing finance agency with first-time-buyer help: down-payment assistance, below-market first mortgages, and mortgage tax credits.

See first-time buyer programs in Maryland →

What you can afford depends on your income, debts, and down payment, not just the home price. Maryland's property taxes above feed straight into the monthly payment lenders measure against your income.

Enter your numbers once and see your real affordability range, debt-to-income, and rent-vs-buy break-even for Maryland:

Home Buying Steps walks you through the whole process, from checking if you're ready to getting pre-approved to closing day, one clear step at a time, tailored to Maryland where the rules differ.

• 1. Are you ready? — budget, credit, rent vs. buy
• 2. Get your finances in order — pre-approval
• 5. Making an offer — earnest money & contingencies
• 10. Closing day — every cost, line by line