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Baltimore City FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Baltimore city, Maryland based on real HMDA transaction records.

Loan Details

Baltimore city, MD Benchmarks

FHA averages
Typical Property Value$264,590
Average Down Payment6.5%
Average Interest Rate6.423%
Effective Tax Rate1.37%
Median Tax Paid$3,354/yr
Tax Growth (Historical)+0.5%
Based on 2,588 regional loans totaling $622,440,000 (HMDA database).
$
%

$17,198 down · $247,392 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$302 / month

$

Annual premium

$

Per month

%

$105 / month

Estimated Monthly Payment

$2,135/mo

  • Principal & Interest$1,578
  • Property Tax$302
  • Home Insurance$150
  • FHA MIP$105
Amortization · Remaining Balance

Financed Loan Amount

$251,721

Total Interest

$316,297

Total of Payments

$568,018

*Includes financed FHA Upfront MIP of $4,329

Local Market Insights

Baltimore city FHA Mortgage Overview

Baltimore City’s FHA market reveals an accessible entry point for owner-occupants, with a weighted average down payment of just 6.47% and a 93.53% loan-to-value ratio. While this low barrier suits buyers with sub-620 credit, the mandatory Mortgage Insurance Premium (MIP) applies for the loan’s life, increasing long-term costs. The effective property tax rate of 1.37%, adjusted upward by 0.5% for inflation, adds roughly $362 annually on the average $264,590 property, impacting monthly affordability. For those exploring FHA loan limits and tax impacts, this data underscores the trade-off: lower upfront cash versus persistent MIP and rising tax burdens.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.