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How to buy a home in Maryland

Quick answer

To buy a home in Maryland, most buyers use an FHA, conventional, VA or USDA loan, often combined with Maryland Mortgage Program (DHCD) down payment assistance. With a typical home around $397,700, a 3.5% FHA down payment is about $13,920 and the estimated monthly payment is roughly $3,257 at a 7.18% rate.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Maryland is a higher-priced market, so buyers often lean on low-down-payment programs and state assistance to bridge the gap between savings and the cash needed to close. Because Maryland has a smaller population, local lenders and the state housing agency play an outsized role — it pays to compare a few loan officers. A household earning around $126,000 a year could comfortably afford a typical Maryland home under the 31% housing guideline.

What does a home cost in Maryland?

ItemMaryland estimate
Typical home value$397,700
3% down (conventional)$11,931
3.5% down (FHA)$13,920
20% down$79,540
Est. monthly payment (FHA, 3.5% down)$3,257
Household income to afford (31%)$126,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

What first-time home buyer programs does Maryland offer?

Maryland Mortgage Program (DHCD) is Maryland's housing finance agency. Its programs are offered through approved lenders and usually require homebuyer education plus income and purchase-price limits.

  • 1st Time Advantage: Fixed-rate loans for first-time buyers with down payment assistance options.
  • Partner Match: Matching assistance funds from participating employers, counties and builders.

Check current terms at Maryland Mortgage Program (DHCD). Many Maryland cities and counties also run their own down payment assistance.

What are the Maryland loan limits for 2026?

Maryland has 24 counties; 5 are high-cost areas. Here are the official 2026 one-unit limits for its most populous counties (FHFA and HUD):

CountyConformingFHA
Montgomery County$1,249,125$1,249,125
Prince George's County$1,249,125$1,249,125
Baltimore County$832,750$747,500
Anne Arundel County$832,750$747,500
Baltimore city$832,750$747,500
Howard County$832,750$747,500
Frederick County$1,249,125$1,249,125
Harford County$832,750$747,500
Carroll County$832,750$747,500
Charles County$1,249,125$1,249,125
Washington County$832,750$541,287
St. Mary's County$832,750$541,287

See all Maryland county loan limits → VA loans have no limit for borrowers with full entitlement.

Which Maryland down payment assistance programs are verified?

  • MMP 1st Time Advantage 6000 — $6,000 loan for down payment and closing costs (deferred-payment loan)
  • MMP HomeStart — 0% interest, 30-year deferred loan equal to 6% of the MMP first-lien loan amount (deferred-payment loan)

How much house can I afford in Maryland?

Use Maryland's own property tax rate and insurance average: $60k, $80k, $100k, $150k salaries, or see FHA requirements in Maryland.

How do property taxes affect buying in Maryland?

Homeowners in Maryland pay a median of $3,989 a year in property taxes — an effective rate of about 1.00% of the median home value, above the national average (Census ACS). Actual rates vary by county and municipality.

Which loan types are popular in Maryland?

  • Conventional Loan — Not government-backed; as little as 3% down for first-time buyers, PMI removable at 20% equity.
  • FHA Loan — Government-insured; 3.5% down with a 580 credit score and flexible debt-to-income rules.
  • VA Loan — For eligible veterans, service members and surviving spouses: 0% down and no monthly mortgage insurance.
  • USDA Loan — 0% down for moderate-income buyers in eligible rural and suburban areas.
  • Jumbo Loan — For loan amounts above the conforming limit; usually 10–20% down and 700+ credit.
  • First-Time Home Buyer Loans — Low-down-payment loans plus state assistance programs designed for first-time buyers.

Buying a home in Maryland cities

Prince George's County

Bowie — $442,000Clinton — $400,300Chillum — $383,900College Park — $429,000Laurel — $367,300South Laurel — $443,100Fort Washington — $464,300Suitland — $312,600Greenbelt — $258,600Landover — $301,400Camp Springs — $379,500Langley Park — $348,700Hyattsville — $463,500Beltsville — $381,100East Riverdale — $346,700Seabrook — $377,900Oxon Hill — $345,500Glassmanor — $316,500Adelphi — $401,700Hillcrest Heights — $340,500Summerfield — $339,800Lake Arbor — $457,800Glenn Dale — $531,000Kettering — $416,500New Carrollton — $378,300Brock Hall — $605,700Accokeek — $518,100Rosaryville — $457,600Westphalia — $478,200Lanham — $413,800Largo — $362,200Friendly — $407,800Mitchellville — $490,400Brandywine — $543,000Forestville — $324,700Marlton — $398,900

Browse every city page →

Maryland home buying FAQs

On a typical Maryland home of about $397,700, a 3.5% FHA down payment is roughly $13,920 and a 3% conventional down payment about $11,931, plus closing costs of 2%–5% of the loan.

Yes. Maryland Mortgage Program (DHCD) offers programs including 1st Time Advantage, Partner Match. Income, price and credit limits apply.

The 2026 baseline conforming limit for a one-unit home is $832,750 in most Maryland counties; designated high-cost counties can be higher.

FHA limits are set by county. For 2026 they start at $541,287 for one-unit homes in lower-cost areas and rise in higher-cost counties.

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.