Conventional Loan Calculator — Maryland
In Maryland, one-unit loans up to $832,750–$1,249,125 are conforming. With 10% down on the typical $428,000 home, the $385,200 loan carries estimated PMI of 0.72% ($231/mo), which drops off after about 9 years once the balance reaches 80% of the price.
Maryland has the 21st-highest effective property tax rate of the 50 states at 0.92% — $43 more a year than the 0.91% state average on a $428,000 home. Homeowners insurance averages $1,918 a year, the 19th-lowest premium nationally and $802 less than the typical state.
Loan Parameters
Total Monthly Payment
$3,290
Principal & Interest + Taxes + Insurance
APR 7.488%
Total Interest
$540,185
Total Cost
$1,124,162
Advanced Parameters
Private Mortgage Insurance (PMI)
Your down payment is below 20%. PMI is estimated at 0.72% annually and is removed here when your LTV reaches 80%.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Feb 2035
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $30,846 | $3,890 | $26,956 | $2,773 | $381,310 | $46,690 |
| Year 2 | $30,846 | $4,173 | $26,673 | $2,773 | $377,137 | $50,863 |
| Year 3 | $30,846 | $4,476 | $26,370 | $2,773 | $372,661 | $55,339 |
| Year 4 | $30,846 | $4,801 | $26,045 | $2,773 | $367,860 | $60,140 |
| Year 5 | $30,846 | $5,149 | $25,697 | $2,773 | $362,711 | $65,289 |
| Year 6 | $30,846 | $5,523 | $25,323 | $2,773 | $357,188 | $70,812 |
| Year 7 | $30,846 | $5,924 | $24,922 | $2,773 | $351,263 | $76,737 |
| Year 8 | $30,846 | $6,354 | $24,492 | $2,773 | $344,909 | $83,091 |
| Year 9 | $30,846 | $6,816 | $24,030 | $924 | $338,093 | $89,907 |
| Year 10 | $30,846 | $7,311 | $23,535 | — | $330,782 | $97,218 |
| Year 11 | $30,846 | $7,842 | $23,005 | — | $322,941 | $105,059 |
| Year 12 | $30,846 | $8,411 | $22,435 | — | $314,530 | $113,470 |
| Year 13 | $30,846 | $9,022 | $21,824 | — | $305,508 | $122,492 |
| Year 14 | $30,846 | $9,677 | $21,169 | — | $295,831 | $132,169 |
| Year 15 | $30,846 | $10,379 | $20,467 | — | $285,452 | $142,548 |
| Year 16 | $30,846 | $11,133 | $19,713 | — | $274,319 | $153,681 |
| Year 17 | $30,846 | $11,941 | $18,905 | — | $262,378 | $165,622 |
| Year 18 | $30,846 | $12,808 | $18,038 | — | $249,569 | $178,431 |
| Year 19 | $30,846 | $13,738 | $17,108 | — | $235,831 | $192,169 |
| Year 20 | $30,846 | $14,736 | $16,110 | — | $221,095 | $206,905 |
| Year 21 | $30,846 | $15,806 | $15,040 | — | $205,289 | $222,711 |
| Year 22 | $30,846 | $16,954 | $13,892 | — | $188,335 | $239,665 |
| Year 23 | $30,846 | $18,185 | $12,661 | — | $170,150 | $257,850 |
| Year 24 | $30,846 | $19,505 | $11,341 | — | $150,645 | $277,355 |
| Year 25 | $30,846 | $20,921 | $9,925 | — | $129,724 | $298,276 |
| Year 26 | $30,846 | $22,440 | $8,406 | — | $107,283 | $320,717 |
| Year 27 | $30,846 | $24,070 | $6,776 | — | $83,214 | $344,786 |
| Year 28 | $30,846 | $25,818 | $5,029 | — | $57,396 | $370,604 |
| Year 29 | $30,846 | $27,692 | $3,154 | — | $29,704 | $398,296 |
| Year 30 | $30,847 | $29,704 | $1,143 | — | $0 | $428,000 |
Conventional Loan numbers for Maryland
- Typical Maryland home value
- $428,000
- 10% down ($42,800) · Zillow, August 31, 2026
- Loan amount
- $385,200
- conforming in all 24 Maryland counties
- Estimated monthly payment
- $3,290
- APR 7.488%
- Maryland property tax
- 0.92%
- $328/mo
- Homeowners insurance
- $1,918/yr
- $160/mo
- Maryland conforming limit
- $832,750 – $1,249,125
- Above this, the loan is jumbo
- PMI
- 0.72% · $231/mo
- Drops off after 9 years
How much house can you afford in Maryland with a conventional loan?
Highest price where principal, interest, Maryland property tax, insurance and PMI stay within 28% of gross income —10% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $50,000 | $1,167 | $137,000 | $13,700 | 32% |
| $75,000 | $1,750 | $217,000 | $21,700 | 51% |
| $100,000 | $2,333 | $297,000 | $29,700 | 69% |
| $125,000 | $2,917 | $377,000 | $37,700 | 88% |
| $150,000 | $3,500 | $456,000 | $45,600 | 106% |
| $200,000 | $4,667 | $616,000 | $61,600 | 144% |
| $250,000 | $5,833 | $775,000 | $77,500 | 181% |
Conventional vs other loan types in Maryland
$428,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $42,800 | $385,200 | — | $231 PMI | $3,290 | 7.488% |
| FHA | 3.5% · $14,980 | $420,248 | UFMIP $7,228 | $192 MIP | $3,484 | 7.761% |
| VA | 0% · $0 | $437,202 | Funding fee $9,202 | $0 | $3,405 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $85,600 | $342,400 | — | $0 | $2,773 | 7.030% |
Frequently asked questions
What is the monthly payment on a $428,000 home with a conventional loan in Maryland?
Estimated $3,290 per month ($2,571 principal & interest, $328 property tax, $160 insurance, $231 PMI) at 7.03% for 30 years, with 10% down. APR 7.488%.
How much is PMI on a Maryland conventional loan?
At 90% loan-to-value, PMI is estimated at 0.72% a year ($231/mo). It can be removed once the balance reaches 80% of the home's original value.
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Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- CFPB — What is private mortgage insurance?
- Homeowners Protection Act (PMI cancellation at 78–80% LTV)
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.