Mortgage on a $350K house in Maryland
$2,344 a month with 20% down — $1,884 principal and interest plus $286 property tax and $175 insurance.
Maryland's typical property tax is 0.98% of the home's value a year (U.S. average 0.9%), which adds $286 a month on a $350K home. The typical home in Maryland is worth $424,890, so $350K is 18% below the typical price.
$350K home in Maryland: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $70,000 | $280,000 | $1,884 | $0 | $461 | $2,344 | $100,500 |
| 10% down | $35,000 | $315,000 | $2,119 | $131 | $461 | $2,711 | $116,200 |
| 5% down | $17,500 | $332,500 | $2,237 | $139 | $461 | $2,836 | $121,500 |
| 3.5% down (FHA) | $12,250 | $343,661 | $2,312 | $155 | $461 | $2,927 | $125,500 |
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 $350K buy a typical home?
In these counties the typical home value is within 15% of $350K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Baltimore County | $358,090 | 1.07% | $2,371 |
| Garrett County | $334,905 | 0.78% | $2,286 |
| Washington County | $327,924 | 0.84% | $2,303 |
| Caroline County | $326,167 | 0.9% | $2,322 |
| Cecil County | $383,362 | 0.89% | $2,319 |
| Kent County | $383,742 | 0.91% | $2,325 |
8 of 24 Maryland counties tracked by Zillow have a typical home value at or below $350K. See all Maryland home prices.
Other prices in Maryland
Frequently asked questions
What is the mortgage on a $350K house in Maryland?
About $2,344 a month with 20% down at 7.11%: $1,884 principal and interest, $286 property tax and $175 insurance.
How much do I need to make to buy a $350K house in Maryland?
About $100,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $350K house in Maryland?
At Maryland's typical effective rate of 0.98%, about $3,429 a year. Rates vary by county and city — see the county pages.