Mortgage on a $400K house in Maryland
$2,679 a month with 20% down — $2,153 principal and interest plus $327 property tax and $200 insurance.
Maryland's typical property tax is 0.98% of the home's value a year (U.S. average 0.9%), which adds $327 a month on a $400K home. The typical home in Maryland is worth $424,890, so $400K is 6% below the typical price.
$400K home in Maryland: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $80,000 | $320,000 | $2,153 | $0 | $527 | $2,679 | $114,800 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $527 | $3,098 | $132,800 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $527 | $3,241 | $138,900 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $527 | $3,346 | $143,400 |
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 $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Harford County | $414,044 | 0.89% | $2,650 |
| Kent County | $383,742 | 0.91% | $2,657 |
| Cecil County | $383,362 | 0.89% | $2,650 |
| Prince Georges County | $421,250 | 1.12% | $2,726 |
| Worcester County | $422,876 | 0.73% | $2,596 |
| Saint Marys County | $431,391 | 0.84% | $2,633 |
| Baltimore County | $358,090 | 1.07% | $2,709 |
| Charles County | $442,448 | 1.01% | $2,690 |
11 of 24 Maryland counties tracked by Zillow have a typical home value at or below $400K. See all Maryland home prices.
Other prices in Maryland
Frequently asked questions
What is the mortgage on a $400K house in Maryland?
About $2,679 a month with 20% down at 7.11%: $2,153 principal and interest, $327 property tax and $200 insurance.
How much do I need to make to buy a $400K house in Maryland?
About $114,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in Maryland?
At Maryland's typical effective rate of 0.98%, about $3,919 a year. Rates vary by county and city — see the county pages.