Mortgage on a $150K house in Maryland
$1,005 a month with 20% down — $807 principal and interest plus $122 property tax and $75 insurance.
Maryland's typical property tax is 0.98% of the home's value a year (U.S. average 0.9%), which adds $122 a month on a $150K home. The typical home in Maryland is worth $424,890, so $150K is 65% below the typical price.
$150K home in Maryland: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,000 | $120,000 | $807 | $0 | $197 | $1,005 | $43,100 |
| 10% down | $15,000 | $135,000 | $908 | $56 | $197 | $1,162 | $49,800 |
| 5% down | $7,500 | $142,500 | $959 | $59 | $197 | $1,215 | $52,100 |
| 3.5% down (FHA) | $5,250 | $147,283 | $991 | $66 | $197 | $1,255 | $53,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.98% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Maryland does $150K buy a typical home?
In these counties the typical home value is within 15% of $150K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Allegany County | $155,795 | 1.06% | $1,014 |
0 of 24 Maryland counties tracked by Zillow have a typical home value at or below $150K. See all Maryland home prices.
Other prices in Maryland
Frequently asked questions
What is the mortgage on a $150K house in Maryland?
About $1,005 a month with 20% down at 7.11%: $807 principal and interest, $122 property tax and $75 insurance.
How much do I need to make to buy a $150K house in Maryland?
About $43,100 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $150K house in Maryland?
At Maryland's typical effective rate of 0.98%, about $1,470 a year. Rates vary by county and city — see the county pages.