Mortgage on a $650K house in Maryland
$4,354 a month with 20% down — $3,498 principal and interest plus $531 property tax and $325 insurance.
Maryland's typical property tax is 0.98% of the home's value a year (U.S. average 0.9%), which adds $531 a month on a $650K home. The typical home in Maryland is worth $424,890, so $650K is 53% above the typical price.
$650K home in Maryland: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $130,000 | $520,000 | $3,498 | $0 | $856 | $4,354 | $186,600 |
| 10% down | $65,000 | $585,000 | $3,935 | $244 | $856 | $5,035 | $215,800 |
| 5% down | $32,500 | $617,500 | $4,154 | $257 | $856 | $5,267 | $225,700 |
| 3.5% down (FHA) | $22,750 | $638,227 | $4,293 | $287 | $856 | $5,437 | $233,000 |
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 $650K buy a typical home?
In these counties the typical home value is within 15% of $650K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Howard County | $625,349 | 1.17% | $4,456 |
| Montgomery County | $606,938 | 0.87% | $4,292 |
24 of 24 Maryland counties tracked by Zillow have a typical home value at or below $650K. See all Maryland home prices.
Other prices in Maryland
Frequently asked questions
What is the mortgage on a $650K house in Maryland?
About $4,354 a month with 20% down at 7.11%: $3,498 principal and interest, $531 property tax and $325 insurance.
How much do I need to make to buy a $650K house in Maryland?
About $186,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $650K house in Maryland?
At Maryland's typical effective rate of 0.98%, about $6,369 a year. Rates vary by county and city — see the county pages.