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Key Takeaways for Maryland Home Buyers:

Here's what you need to know to get started if you’re looking at buying in the Old Line State.

Average Home Prices in Maryland

As of May 2025, the median sale price for a single-family home in Maryland is $433,735.

Average home price:

  • Baltimore: $335,000
  • Annapolis: $649,900
  • Frederick: $485,000
  • Ocean City: $454,500
  • Bowie: $525,000

Source: zillow.com/home-values

Average Home Size in Maryland

The average size for a single-family home in Maryland is approximately 1,848 square feet.

Average home size:

  • Baltimore: 1,848 square feet
  • Annapolis: 2,051 square feet
  • Frederick: 2,421 square feet
  • Bowie: 1,900 square feet

Source: https://fred.stlouisfed.org/

Maryland State Taxes

  • Maryland’s state income tax ranges from 2% to 5.75%, depending on income level. Counties and Baltimore City also impose local income taxes between 2.25% and 3.20%, making the combined rate one of the highest in the U.S.
  • The average effective property tax rate in Maryland is approximately 1.06% of a home’s assessed value, though it can vary by county.
  • The statewide sales tax rate in Maryland is 6%, with no additional local sales tax added on top.

How Much Can You Afford in Maryland?

Ideal
Monthly Payment:
$750.00

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$750.00
$1050
$1350

Mortgage Questions?
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By submitting this form, I/we agree to your Privacy Policy, Email and Mobile Policy, Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive SMS text messages sent by an automatic telephone dialing system. Message and data rates may apply. Message frequency may vary. Text the word HELP to 615-488-4941 for more information. You can opt out by responding STOP at any time. For more information, read our Privacy Policy, Mobile Policyand Terms & Conditions. Consent to these terms is not a condition of purchase.

Your answer will NOT negatively affect your mortgage application. Your answer does not mean the Lender or Other Loan Participants agree to communicate or provide documents to you in your preferred language. However, it may let them assist you or direct you to persons who can assist you. Language assistance and resources may be available through housing counseling agencies approved by the U.S. Department of Housing and Urban Development. To find a housing counseling agency, contact one of the following Federal government agencies. U.S. Department of Housing and Urban Development (HUD) at (800)569-4287 or www.hud.gov/counseling

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Maryland Down Payment Assistance Programs

Maryland Mortgage Program

The Maryland Mortgage Program (MMP) helps first-time home buyers across the state secure affordable home financing, offering access to conventional, FHA, VA, and USDA loans, along with down payment assistance options.

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More about this program

  • Eligible loan types: Conventional, FHA, VA, and USDA

  • Down payment assistance available through second lien loans and grants

  • Maximum DTI:

    • Conventional: Up to 50%

    • FHA: Up to 50% with a 680+ FICO; capped at 45% with a 640 FICO

  • Minimum credit score: 640

  • Must have a valid Social Security Number and be eligible to work in the U.S.

  • Non-traditional credit is not accepted

National Homebuyers Fund FHA Program

This down payment assistance program helps buyers get into a home with little to no upfront cost, offering up to 101.5% financing through an FHA first mortgage and a second lien.

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More about this program
  • FHA loan covers 96.5% of the purchase price
  • Second lien covers 3.5% or 5% for down payment or closing costs
  • Minimum credit score: 600 (660 for manual underwriting)
  • No first-time buyer requirement
  • No max DTI with DU/LP approval
  • Homebuyer education required (Fannie Mae HomeView – free online)
  • Non-occupant co-borrowers allowed
  • Eligible properties: Single-family homes, duplexes (2 units), PUDs, condos (agency approved), townhomes, manufactured homes allowed (except single-wides)

National Community Lending Program

This program supports low- to moderate-income buyers with down payment assistance and flexible financing to make homeownership more accessible.

purchase-g-radio
More about this program
  • 30-year fixed-rate conventional mortgage
  • Second lien offers up to 4% for down payment assistance
  • Max LTV/CLTV: 97% / 105%
  • Income limit: Up to 140% of area median income (AMI)
  • Minimum credit score: 660
  • DTI: Lesser of 50% or AUS approval
  • Eligible properties: Single-family detached or attached homes, single-family homes with accessory units (must be zoned single-family), PUDs and condominiums, rural properties (must be residential in nature)

Churchill Mortgage is an approved lender for these down payment assistance programs. Contact us today to see if you qualify!

Frequently Asked Questions

Check our FAQs for responses to our most popular questions from Maryland Home Buyers.

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How Much Should I Budget for Closing Costs in Maryland?

Home buyers in Maryland should generally budget 2% to 5% of the home’s purchase price for closing costs. On a $400,000 home, that’s roughly $8,000 to $20,000.

You will receive your closing costs from your Home Loan Specialist in a Loan Estimate that you will receive after you apply for your home loan and in the Closing Disclosure document that is provided before your official closing day.

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What Are the Most Popular Home Loan Types in Maryland?

Maryland home buyers have access to a variety of mortgage options, each with its own benefits depending on income, credit, and down payment ability:

  • Conventional Loans – The most common mortgage, ideal for buyers with solid credit (typically 620+) and a down payment of 3–5%.

  • FHA Loans – Backed by the Federal Housing Administration, these are increasingly used by first-time buyers, accepting credit scores as low as 580 and requiring just 3.5% down; popular due to more flexible guidelines.

  • VA Loans – Available to eligible veterans, active-duty service members, and certain surviving spouses; offer zero down payment, no PMI, and competitive interest rates.

  • USDA Loans – Provide 100% financing for qualified buyers in rural areas, with income limits and a general FICO requirement of 640.

  • Maryland Mortgage Program (MMP) – A state-backed solution for first-time buyers, offering Conventional, FHA, VA, and USDA loans with down payment assistance, competitive rates, and flexible credit rules.

Collaboration
How Can I Find a Trusted Local Maryland Realtor to Work With?

Churchill Mortgage's experienced Home Loan Specialists work closely with a network of trusted, local real estate agents across the state of Maryland. Just ask for a referral and we'll provide you with a professional who is committed to finding the right home for you.

 
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How Do Schools Rank in Maryland?

Maryland is home to some of the highest-performing school districts in the country, known for strong academics, high graduation rates, and robust college-prep programs.

  • Howard County Public Schools – Consistently rated the #1 district in Maryland, earning top marks for overall quality, teacher excellence, and safety.

  • Montgomery County Public Schools – The largest district in the state, frequently ranked among Maryland’s best and recognized for multiple schools in the top 10 statewide.

  • Frederick County Public Schools – Ranked in the top 5 districts in Maryland, with high student proficiency rates and strong graduation performance.

  • Worcester County Public Schools – Noted as one of the top 3 districts in the state, with high marks for teaching quality and student safety.

  • Harford County Public Schools – A top-10 district, praised for athletic programs, teacher quality, and student outcomes.

For detailed school ratings, graduation data, and test scores, check the Maryland School Report Card.

Reviews from Maryland Home Buyers

★ ★ ★ ★ ★

"There was constant communication! I also really appreciated all the advice and step by step support throughout the process! Andrew was kind, patient, available, and willing to clarify at any time. I didn't have to ask about my status."

Chanda T.
Baltimore, MD
★ ★ ★ ★ ★

"The home buying process was extremely excellent and smooth with Andrew and his team. They were very responsive to any questions and moved quickly to get my loan processed. I would definitely recommend them over and over again."

Oladipupo S.
Owings Mills, MD
★ ★ ★ ★ ★

"Fast responses to questions and great customer service. The entire team was very knowledgeable of the process. The process from being to end was seamless. I was very impressed as a first-time homeowner."

Shannon J.
Finksburg, MD

4.9 / 5

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Top Rated Loan Advisors Across the U.S.

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Maryland Branch Locations

Columbia, MD

443-812-0883

Visit the Branch Website

7120 Minstrel Way, Ste 206A

Baltimore, MD

443-541-4400

Visit the Branch Website

9171 Baltimore National Pike, Ste. 110

Churchill Loan Officers in Maryland

Conforming and high balance allowed. Cooperative housing not eligible. Not all applicants will qualify. Not a commitment to lend. Other restriction or limitations to any program may apply.

This calculator is being provided for educational purposes only. The provided values for interest rates are examples only and do not reflect Churchill Mortgage Product terms & offers. The results are estimates that are based on information you provided and may not reflect Churchill Mortgage Product terms. The information cannot be used by Churchill Mortgage to determine a customer's eligibility for a specific product or service. All financial calculators are provided by a third-party and are not controlled by or under the control of Churchill Mortgage. Churchill Mortgage is not responsible for the content, results, or the accuracy of information.

These calculations are hypothetical examples designed to for illustration purposes only. Consult a Home Loan Specialist for more specific information regarding payments, terms, etc.

As a responsible lender, Churchill Mortgage is committed to the principles outlined in federal and state lending laws ensuring all potential borrowers have access to the same information, services, and opportunities throughout the home loan process.