Buying a home
Data from November 2026
Buying a home in Maryland
A typical home in Maryland is worth $419,900 (Average 2020–2024). The FHA limit for one unit is $541,287–$1,249,125 depending on the county. Here is the minimum down payment each loan type asks at that price, every county’s limit, and the state’s assistance programs.
Key numbers in Maryland
- Typical home
- $419,900
- median value, Average 2020–2024
- 26% more than the U.S.
- FHA limit
- $541,287–$1,249,125
- one unit, by county
- In 12 of the 24 counties, the limit is above the national floor ($541,287).
- Conforming limit
- $832,750
- up to $1,249,125 in high-cost areas
- Above this amount, the loan is a “jumbo” loan.
- Minimum FHA down payment
- $14,697
- 3.5% of a $419,900 home
- VA and USDA ask for no down payment if you qualify.
Down payment
How much each loan asks up front
For a $419,900 home, the typical value in Maryland. The minimum down payment is each program’s rule. The monthly figure is an example of principal and interest over 30 years at the 7.18% average rate (November 5, 2026): no taxes, insurance or mortgage insurance.
Your price, rate and down payment will differ: run the calculator with your numbers. Closing costs are extra.
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FHA Program rule
Minimum down3.5%
In dollars$14,697
Per month$2,745
With a credit score of 580 or more. Carries mortgage insurance (MIP) up front and every month.
HUD Handbook 4000.1 (Update 18), II.A.2.a.iv — Minimum Required Investment · In effect since September 14, 2016
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Conventional Program rule
Minimum down3%
In dollars$12,597
Per month$2,759
3% is the lowest standard option. With less than 20% down you pay private mortgage insurance (PMI) until you have more equity.
Fannie Mae Selling Guide B5-6-01 — HomeReady Mortgage Loan and Borrower Eligibility · In effect since January 1, 2024
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VA Program rule
Minimum down0%
In dollars$0
Per month$2,845
For veterans, service members and some spouses. No down payment as long as the price is not above the appraisal; charges a one-time funding fee.
VA: Purchase loan — benefits · In effect since January 1, 2020
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USDA Program rule
Minimum down0%
In dollars$0
Per month$2,845
Only homes in eligible rural areas and households within USDA’s income limit. Finances the full price.
7 CFR §3555.103 — Maximum loan amount (Guaranteed Rural Housing Program) · In effect since December 9, 2013
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ITIN loans follow no federal rule: each lender sets its own down payment and rate, and usually asks for more. 15% is an example.
Loan limits
FHA and conforming limit in every county
FHA sets the limit by area: 12 of the 24 counties in Maryland are high-cost and sit above the national floor ($541,287). The conforming limit is the most Fannie Mae and Freddie Mac will buy; above it, the loan is a “jumbo”.
| Montgomery County | $1,249,125 | $1,249,125 | $640,300 | High-cost |
|---|---|---|---|---|
| Frederick County | $1,249,125 | $1,249,125 | $464,600 | High-cost |
| Charles County | $1,249,125 | $1,249,125 | $428,500 | High-cost |
| Prince George's County | $1,249,125 | $1,249,125 | $426,000 | High-cost |
| Howard County | $747,500 | $832,750 | $597,900 | High-cost |
| Anne Arundel County | $747,500 | $832,750 | $467,900 | High-cost |
| Queen Anne's County | $747,500 | $832,750 | $462,700 | High-cost |
| Carroll County | $747,500 | $832,750 | $434,000 | High-cost |
| Harford County | $747,500 | $832,750 | $386,400 | High-cost |
| Baltimore County | $747,500 | $832,750 | $349,300 | High-cost |
| City of Baltimore | $747,500 | $832,750 | $229,600 | High-cost |
| Cecil County | $630,200 | $832,750 | $343,400 | High-cost |
| Calvert County | $541,287 | $1,209,750 | $460,200 | National floor |
| Talbot County | $541,287 | $832,750 | $409,700 | National floor |
| St. Mary's County | $541,287 | $832,750 | $407,600 | National floor |
| Worcester County | $541,287 | $832,750 | $374,700 | National floor |
| Kent County | $541,287 | $832,750 | $330,900 | National floor |
| Washington County | $541,287 | $832,750 | $296,100 | National floor |
| Caroline County | $541,287 | $832,750 | $290,100 | National floor |
| Dorchester County | $541,287 | $832,750 | $262,400 | National floor |
| Wicomico County | $541,287 | $832,750 | $254,700 | National floor |
| Garrett County | $541,287 | $832,750 | $235,300 | National floor |
| Somerset County | $541,287 | $832,750 | $173,200 | National floor |
| Allegany County | $541,287 | $832,750 | $154,900 | National floor |
- Montgomery $1,249,125$1,249,125
- Frederick $1,249,125$1,249,125
- Charles $1,249,125$1,249,125
- Prince George's $1,249,125$1,249,125
- Howard $747,500$832,750
- Anne Arundel $747,500$832,750
- Queen Anne's $747,500$832,750
- Carroll $747,500$832,750
- Harford $747,500$832,750
- Baltimore $747,500$832,750
- Baltimore $747,500$832,750
- Cecil $630,200$832,750
- Calvert $541,287$1,209,750
- Talbot $541,287$832,750
- St. Mary's $541,287$832,750
- Worcester $541,287$832,750
- Kent $541,287$832,750
- Washington $541,287$832,750
- Caroline $541,287$832,750
- Dorchester $541,287$832,750
- Wicomico $541,287$832,750
- Garrett $541,287$832,750
- Somerset $541,287$832,750
- Allegany $541,287$832,750
One unit. For 2- to 4-unit homes, each county page has the full table. Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD) (external site)
Down payment help
Maryland programs for buyers
3 verified programs that put money toward the down payment or closing costs, or give a tax credit. With the source wording and the date we checked it.
Some help is a grant you never repay; other help is a second loan that is forgiven over the years or repaid when you sell. Each program’s tag says which kind it is.
See all programs-
MMP 1st Time Advantage
Verified November 5, 2026
Maryland Mortgage Program mortgages for first-time buyers, with a deferred 0% second mortgage for the down payment: $6,000, or 3%, 4% or 5% of the loan
- Deferred
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MMP Flex Loans
Verified November 5, 2026
Maryland Mortgage Program mortgages for first-time buyers and for people who have owned a home before; Flex 6000 brings $6,000 and Flex 3% brings 3% of the loan for the down payment, as a deferred 0% second loan
- Deferred
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Maryland SmartBuy
Verified November 5, 2026
Maryland Mortgage Program loan of up to 15% of the price (maximum $25,000) to pay off your student debt when you buy a home; no interest or monthly payments, and forgiven after five years if you stay in the home
- Forgivable
What the state publishes
Maryland rules that change the math
Exemptions that lower property tax and taxes paid when the deed is recorded, summarized from the official page each one cites.
Property tax in MarylandExemptions and caps
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Homestead tax credit (cap on yearly assessment increases)
For your principal residence, the credit limits how much of an assessment increase is taxed each year: the State taxes at most 10 percent more than the prior year, and each county and municipality sets its own percentage (which can be lower). A one-time application is filed with the Department of Assessments (SDAT).
Md. Code, Tax-Prop. §9-105(e) · Maryland General Assembly (Annotated Code of Maryland, Tax-Property Article) · Verified October 23, 2026
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Income-based Homeowners' Property Tax Credit
The State pays a credit when your home's property tax exceeds a set percentage of your household's gross income. Combined gross income may not exceed $60,000 and net worth (excluding the home and retirement accounts) must be under $200,000. You apply to SDAT every year.
Md. Code, Tax-Prop. §9-104 · Maryland State Department of Assessments and Taxation (SDAT) · Verified October 23, 2026
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Exemption for 100 percent disabled veterans and their surviving spouse
The home of a veteran with a disability the VA has determined is 100 percent service-connected, permanent and total is exempt from tax. The veteran must own the home and it must be the principal residence. You submit the VA certification (or final rating decision) and your discharge certificate, likely the DD-214. The surviving spouse may also keep the exemption when the requirements are met.
Md. Code, Tax-Prop. §7-208 · Maryland State Department of Assessments and Taxation (SDAT) · Verified October 31, 2026
When the sale is recorded
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State transfer tax (0.5%; 0.25% for first-time buyers)
The State charges 0.5 percent of the price when the deed is recorded. If every buyer is a first-time Maryland home buyer who will live in the home, the rate drops to 0.25 percent and the seller pays all of it. Counties also charge their own recordation tax and, in many cases, a local transfer tax.
Md. Code, Tax-Prop. §13-203(a)(1), (b)(3) · Maryland General Assembly (Annotated Code of Maryland, Tax-Property Article) · Verified October 23, 2026
Your next steps
Where to go next in Maryland
What you can do today, free and without giving personal information. Go in order: your numbers first, then the help.
- Run the numbers with your figures
The Maryland calculator already has the typical value, the average rate and the state’s property tax.
- Check whether you qualify for help
Each program says what it gives, who qualifies and when we checked it.
- Talk to a counselor for free
41 HUD-approved agencies help you prepare to buy; 18 say they serve in Spanish.
- Follow the steps to buy a home
From the budget to the keys, in order.
Frequently asked questions
How much down payment do I need for a typical home in Maryland?
For a $419,900 home (typical value, Average 2020–2024), the FHA minimum (3.5%) is $14,697 and the conventional minimum (3%) is $12,597. VA and USDA ask no down payment if you qualify. State programs can cover part of it.
Are there high-cost counties in Maryland?
Yes. In 2026 data, 12 of the 24 counties in Maryland have an FHA limit above the national floor ($541,287); the highest is Montgomery County ($1,249,125).
What is the conforming loan limit in Maryland?
In 2026 data, the conforming limit for one unit runs from $832,750 to $1,249,125 depending on the county in Maryland: the most Fannie Mae and Freddie Mac will buy. Above it, the loan is a “jumbo” and each lender sets its own terms.
What would the monthly payment be on a typical home in Maryland?
With $419,900, the FHA minimum down payment ($14,697) and the 7.18% average rate (November 5, 2026), principal and interest over 30 years comes to about $2,745 a month. Tax, insurance and mortgage insurance are missing: the calculator adds them.
What down payment help is there in Maryland?
We have verified 3 state programs in Maryland that put money toward the down payment or closing costs, or give a tax credit. Each shows the source wording, who qualifies and the date we checked it.