Maryland Closing Cost Calculator
Estimate Maryland closing costs for buyers and sellers. Transfer tax: 0.5%. Average total: 3.2% of price.
How This Calculator Works
Calculation methodology and assumptions
Closing costs in Maryland typically range from 2.7% to 3.7% of the purchase price. This calculator estimates individual line items including title insurance (0.5% of price), transfer taxes (0.5% in Maryland), recording fees, loan origination fees (1% of loan), appraisal, inspection, and escrow/prepaids. Maryland requires an attorney for real estate closings.
Frequently Asked Questions
How much are closing costs in Maryland?
Closing costs in Maryland average 3.2% of the purchase price. On a $395,000 home, that's approximately $12,640.
Does Maryland have transfer taxes?
Yes, Maryland has a transfer tax of 0.5% of the sale price. On a $395,000 sale, that's $1,975.
Do I need an attorney to close in Maryland?
Yes, Maryland is an "attorney state" — you are required to have an attorney present at closing.
Who pays closing costs in Maryland?
In Maryland, both buyers and sellers have closing costs. Buyers typically pay loan-related fees, appraisal, inspection, and their share of prepaids. Sellers usually pay real estate agent commissions and their share of transfer taxes. Some costs are negotiable between the parties.
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