First-time homebuyers in Maryland exempt from transfer taxes

Q. Is there an advantage of being a first-time homebuyer in Maryland? The answer is "Yes." If you are a first-time homebuyer in the State of Maryland, then you are exempt from paying your portion of the State Transfer Tax (.25% of the Sales Price).

Remember that ALL buyers must be first-time homebuyers in order to qualify for this exemption (e.g., if husband owned a Maryland home prior to marriage, and now both husband and wife are purchasing a Maryland property, then the exemption would NOT apply). Federal Title & Escrow Company provides all paperwork for this exemption. For more details, ask your Realtor or contact us.

Read more about property taxes in Maryland and the D.C. Metro Area.

REAL Credit™

Did you know? Homebuyers who close with Federal Title can instantly save up to $750 on their closing costs.

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