Mortgage Calculator in Baltimore County, MD

You need to enter several details into the mortgage calculator, starting with the purchase price of the home. You also need to select the length of the loan, which is referred to as the mortgage term. The most common mortgage term is 30 years.

Use the sliding scale to adjust the amount of your down payment and the estimated annual property taxes. Please note that the tax rate is Baltimore City is 2.248% of the home’s value, a higher rate than Baltimore County and other counties and Maryland, see County Tax Rates.

Adjusting the down payment in the calculator allows you to see how a larger down payment might impact your monthly mortgage payment.

Adjust the interest rate to reflect today’s interest rate. Keep in mind, mortgage rates change daily –you can find nationwide average mortgage rates at [https://www.wsj.com/market-data/bonds] – or feel free to call one of our Mortgage Consultants for a more personalized daily rate quote based on your specific scenario. The default setting for our interest rate calculator is 6% (can we update this to 6%??). You can also adjust the annual insurance and monthly homeowner’s association (HOA) fees.

Why Use a Mortgage Payment Calculator?

Our calculator helps you estimate monthly mortgage payments. As the calculator updates the results in real time as you make adjustments to the term, down payment, interest rate or taxes, you can view the impact of making a larger down payment or the impact that the county tax rate has on your monthly payment.

Whether you are a first-time home buyer or looking to refinance, use our mortgage calculator to estimate your payments. For more assistance obtaining a home loan contact our team at Harborside Home Loans.