Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
Closing costs in Maryland
See how much you might have to shell out in closing costs when you buy or sell a home in this state.
According to data from ClosingCorp, the average closing cost in Maryland is $11,709.74 after taxes, or approximately 2.93% to 3.9% of the final home sale price.
Closing cost stats in Maryland
Across the state, the average home sells for between $300,000 and $400,000. If you buy a property in that range, expect to pay between $8,782.31 and $15,612.99 in closing costs after taxes.
Data | Value |
---|---|
Average home sale price | $300,000 to $400,000 |
Average total closing cost | $11,709.74 |
Expected closing cost range | $8,782.31 to $15,612.99 |
Percentage of closing cost to home sale price | 2.93% to 3.9% |
How much does tax affect the closing cost?
Buyers and sellers in Maryland pay an average of $7,883.92 in tax combined for the closing. This accounts for 67.33% of the total average closing cost in Maryland.
Value | |
---|---|
Average tax paid | $7,883.92 |
Percentage of total closing cost | 67.33% |
Compare mortgage lenders
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
How do closing costs in Maryland compare nationally?
The closing costs for buying a home in Maryland are amongst the nation's highest after accounting for taxes. It’s 49 in our rankings which rates states from lowest to highest closing cost.
Average total closing cost in Maryland | Ranking* | |
---|---|---|
Before taxes | $3,825.82 | 35 |
After taxes | $11,709.74 | 49 |
*Ranked from lowest to highest of the 50 states plus Washington DC
Bottom line
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in Maryland.
To save on your home loan, consider comparing the fees and rates of top lenders before signing.
More guides on Finder
-
How much are closing costs on a HELOC or home equity loan?
Do you have to pay closing costs on home equity loans and HELOCs?
-
No-closing-cost refinance: Does it make sense?
A no-closing-cost refinance has zero upfront fees, but may still cost you.
-
Mortgage rates in Oklahoma
See how rates in the Sooner State are expected to trend in the coming year.
-
Mortgage rates in Maine
See the mortgage rates in Vacationland and where they’re expected to head in 2020.
-
Mortgage rates in Alabama
Alabama mortgage rates can vary. Here’s how you can try to get the best rate.
-
How much would I pay on a $550,000 mortgage?
Breakdown of what you might pay monthly over the life of a $550,000 mortgage.
-
Finder’s Starbucks Index 2019
Ever wondered how much a tall Starbucks latte costs around the world? And what does that say about the value of currency? Finder’s Starbucks Index 2019 delves into the data to find out.
-
How much does a funeral cost in Florida?
Find out how much the average funeral costs in Florida, and discover the different ways you can pay for it.
-
How much does a credit card cost?
You can get swamped in credit card fees and charges — like if you fail to pay your balance in full each month — but you can avoid this and keep your costs down.
-
ATM fees: How much and 7 ways to avoid
Learn how much you’ll need to pay to use an ATM at home or while traveling.
Ask an Expert