Financing in 21231>Question Details

carlycoh, Home Owner in Baltimore, MD

If I refinance an existing mortgage on a second home (not my primary residence), do I need to pay the Maryland state tax stamp?

Asked by carlycoh, Baltimore, MD Sat Jun 8, 2013

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Yes, you will have to pay the tax
0 votes Thank Flag Link Sun Jun 9, 2013
Hi Carlycoh, consult your mortgage lender
0 votes Thank Flag Link Sat Jun 8, 2013
On a primary residence the recordation tax on the new loan only applies to the "new" money. For example, if you refinance a $200K loan with a new $250K loan you only pay the tax on $50K. But this exemption is limited to your primary residence. Sorry about that.

Bob McGee
Advance Realty Timonium
Direct: 410-560-4574
Office: 410-561-0004
0 votes Thank Flag Link Sat Jun 8, 2013
Hello Carlycoh,

You will not have to pay tax stamos on a refi. I wilk be happy to run numbers for your refinance. You can reach me on my cell phone or go directly to my link and secure link out the FULL Application and I will get back to you with how much you can save.


Catherine Purcell
Senior Morrgage Loan Office
Fairway Independent Mortgage Corporation
Cell 202 573-6035
0 votes Thank Flag Link Sat Jun 8, 2013
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