Closing costs in Maryland
On a $500,000 home with 20% down, buyers in Maryland typically pay about $11,313 to $26,108 at closing, including prepaid taxes and insurance.
Typical buyer total2.3%–5.2%Of the price, 20% down
Closings handled byA title or settlement companyCustomary in the state
Buyer-paid taxes3See below
Buyer-paid taxes
| Tax | On $500,000 with 20% down | Note |
|---|---|---|
| State transfer tax (buyer’s half of 0.5%) | $1,250 | |
| County transfer tax (buyer’s half; rate varies by county) | $0 – $3,750 | |
| Recordation tax (buyer’s half; rate varies by county) | $1,250 – $2,750 | Maryland counties charge roughly $2.50 to $5.50 per $500 of the price; by default buyer and seller split it. |
Estimated closing costs by price
| Price | Loan | Closing costs | Share of price |
|---|---|---|---|
| $300,000 | Conventional, 20% down | $8,328 – $18,745 | 2.8%–6.2% |
| $300,000 | FHA, 3.5% down | $8,602 – $19,508 | 2.9%–6.5% |
| $500,000 | Conventional, 20% down | $11,313 – $26,108 | 2.3%–5.2% |
| $500,000 | FHA, 3.5% down | $11,770 – $27,380 | 2.4%–5.5% |
| $750,000 | Conventional, 20% down | $15,044 – $35,313 | 2.0%–4.7% |
| $750,000 | FHA, 3.5% down | $15,730 – $37,220 | 2.1%–5.0% |
Who pays what in Maryland
By Maryland law, transfer and recordation taxes are split equally unless the contract says otherwise.
Questions
How much are closing costs for buyers in Maryland?
Often about 2.3% to 5.2% of the price with 20% down, including prepaid taxes and insurance.
Do buyers pay transfer tax in Maryland?
Buyers typically pay: State transfer tax; County transfer tax; Recordation tax.
More for Maryland
Sources: Maryland Code, Tax-Property §12-102, §13-203 (recordation and transfer taxes; first-time buyer rules). Fees are typical ranges, not quotes; your Loan Estimate lists the actual costs.