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Disclaimer: These are estimates only. Actual closing costs vary by lender, title company, state/county, and closing date. Your Loan Estimate (TRID) is the source of truth.
Maryland Closing Costs Breakdown
Closing costs in Maryland are among the highest in the mid-Atlantic, typically ranging from 2.5% to 4% of the purchase price. For a median-priced home near $451,000, buyers should budget $11,275 to $18,040 at closing, driven by a layered state and county transfer tax structure.
Transfer Taxes & Fees
Maryland has a 0.5% state transfer tax paid by the buyer (first-time buyers pay 0.25%). Counties add their own transfer taxes ranging from 0.5% to 1.0% of the purchase price. Combined, most buyers in Maryland face 1% to 1.5% in total transfer and recordation taxes. Montgomery County and Baltimore City have some of the highest combined rates, reaching 1.5% or more.
Attorney Requirements
Maryland does not strictly require an attorney for all closings, but many counties have strong attorney-involvement norms and title companies often work alongside settlement attorneys. In Baltimore City and some counties, an attorney is practically required. Budget $500 to $1,200 for attorney fees when present.
Local Quirks & Need-to-Know
Maryland imposes a recordation tax in addition to the transfer tax, creating a two-tax structure that confuses buyers. First-time homebuyers are exempt from the state transfer tax on homes under $250,000 and pay a reduced 0.25% rate above that. Property taxes in Maryland are paid in arrears, resulting in a prorated seller credit at closing. Baltimore City levies one of the highest combined property and transfer tax rates of any Maryland jurisdiction.