Frederick County, Maryland closing costs
Posted Jan 10, 2008 @ 11:14 am, Viewed by 1286 Visitors, Read 1344 Times.FREDERICK COUNTY: 301-694-1111
Recordation Tax $12.00 per thousand
Transfer Tax .5% (No County + .5% State)
Property Tax $1.132 per hundred assessed value
($1.00 County + $.132 State)
Fire Tax ($.065 to $.135), call tax office.
Direct any questions to the Clerk of the Court, 301-600-1976. If refinancing, you will be charged the state recordation tax on any new money (not just "cash out") and on the entire new loan if an investment property.
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Exactly, no recordation of $12 per thousand if no "new money" is taken out. Recordation is charged on entire loan amount when it's an investment property.
You can find general closing cost info for Maryland here, http://www.choicefinance.net/maryland-closing-costs.htm, as well as today's rates for refinancing.
M.H
If refinancing owner occupied home in Fred. County MD will there be recordation tax if closing cost is rolled over into the mortgage???
Regardless if closing costs are rolled into mortgage or not, will not affect if you are paying Recordation Tax or not.
It depends on if there is any cashout, or if it's an investment property.
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Will there be NO recordation taxes if the mortgage refi is simple with no additional cash taken out? I have gotten quotes from $55 to $3710 to refi my loan relating to recordation tax. It seems each mortgage company differs in their stance. PNC, Mainline etc...