Free mortgage refinance calculator tailored for Maryland (MD). Calculate instantly with state-specific rates and rules.
With a median home value of $380,000 in Maryland, many homeowners have accumulated significant equity since 2020. D.C. suburbs have remained among the most resilient housing markets nationally, with steady demand from federal government workers. Baltimore city is significantly more affordable.
Refinancing costs approximately $5,400 in Maryland. Maryland has some of the highest closing costs in the US. Transfer taxes are 0.5% at the state level plus local taxes (1.5% in Baltimore City). The state also imposes recordation taxes. Your break-even is when cumulative monthly savings equal these upfront costs.
To qualify for a conventional rate-and-term refinance in Maryland, your balance must stay under $1,089,300. Montgomery and Howard counties qualify for the maximum high-cost conforming limit. Other Maryland counties are at $726,200.
Refinancing doesn't trigger a property reassessment in Maryland. Your 1.09% effective rate stays constant — only the principal and interest portion of your payment changes. Maryland's suburbs of Washington D.C. — Montgomery, Howard, and Prince George's counties — carry some of the highest property tax bills in the state due to premium school systems and services.
Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.
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