Maryland closing costs

What will it cost to close in Maryland?

Pick your county and price to see the transfer and recordation taxes on a Maryland sale, how they divide between buyer and seller, and a rough view of the other costs at settlement.

County

Purchase price

Loan amount

Defaults to 80% of the price. Enter 0 for a cash purchase.

Buyer will occupy the home as a principal residence

Buyer is a first-time Maryland homebuyer

The reduced state transfer tax applies only when the buyer will also live in the home.

Tax split between buyer and seller

Split 50/50Buyer pays allSeller pays all

Applies to recordation and transfer taxes. Maryland law defaults these taxes to the seller for first-time buyers who will live in the home, unless the contract says otherwise.

Your estimate

Estimated buyer costs

$21,235

Taxes

Recordation taxHalf of $7,970: $3,985
County transfer taxHalf of $7,500: $3,750
State transfer taxHalf of $3,750: $1,875
Subtotal: $9,610

Other costs (rough estimates)

Settlement or closing fee: $1,000
Title search and exam: $400
Owner's title insurance: $2,625
Lender's title insurance: $1,500
Recording fees: $100
Lender fees: $6,000
Subtotal: $11,625

Estimated seller costs

$9,610

Taxes

Recordation taxHalf of $7,970: $3,985
County transfer taxHalf of $7,500: $3,750
State transfer taxHalf of $3,750: $1,875
Subtotal: $9,610

Taxes only. Commission, loan payoff, and the seller's own fees are not included.

Includes the principal residence exemption on the first $100,000 ($890 credit). Exemption method: confirm with your settlement company.

Other costs

Rough estimates for the buyer side only. Replace them with the figures from your Loan Estimate.

Settlement or closing fee

Title search and exam

Owner's title insurance

Include

% of price: $2,625

Lender's title insurance

% of loan: $1,500

Recording fees

Lender fees

% of loan: $6,000

In plain English

Where the money goes.

Recordation tax

A county tax for recording the deed in the land records, charged per $500 of the price. In Montgomery County the rate rises in tiers as the price climbs, and some counties exempt part of the price when the buyer will live in the home. Buyer and seller commonly split it evenly, but custom varies by county and the contract decides.

State transfer tax

Maryland's own tax on the transfer: 0.5% of the price, usually split the same way. When the buyer is a first-time Maryland homebuyer who will live in the home, the rate drops to 0.25% and the seller pays it.

County transfer tax

Most counties add a transfer tax of their own, a percentage of the price. Like the recordation tax, buyer and seller commonly split it evenly, though custom varies and the contract decides. Rates vary widely, a few counties exempt part of the price for owner-occupied homes, and Frederick County charges none at all.

Other costs

Settlement fees, title search, title insurance, recording fees, and lender fees come from the companies you choose. The figures here are rough placeholders. Swap in the numbers from your Loan Estimate for a closer picture.

An estimate, not a quote

Exemptions, negotiated splits, and your lender's terms all move the final number. Your Closing Disclosure, issued before settlement, is the document of record.

Next step

Numbers are only the start of the conversation.

Amir can walk you through what these estimates mean for your purchase or sale, and which costs are worth raising before you sign.

Private consultation