First Time Home Buyer Baltimore Maryland

first time home buyer baltimore maryland

Baltimore Maryland’s best rates for First Time Home Buyer loans. Helping borrowers in Baltimore Maryland qualify for the best First Time Home Buyer loan to meet their borrowing requirements. Some First Time Home Buyer loan programs in Baltimore Maryland  are backed by the Federal Housing Administration (FHA). These popular  first time homebuyer loans require lower minimum credit scores and down payments to make it easier to qualify.

First Time Home Buyer Programs
Baltimore Maryland has the  First time home buyer loan program to fit your needs,from simple W2 employees to full 2 year tax returns, self employed loans, Non QM loans and more with low down payments and fees. Contact us today to craft the loan that best fits your needs. Some qualifications below.

FHA First Time Home Buyer Program and HomeReady Purchase Program

  • A credit score of at least 580 for a 3% down home loan
  • A credit score of 500 to 579 for a 10% down payment
  • FHA loan with 3.5% down payment requirement
  • Mortgage insurance that is offset due to lower FHA interest rates than a conventional loan.
  • FHA Debt to income ratio of 50% or less

Qualify for a 3% down HomeReady Loan in Baltimore Maryland. Use this application to pre-qualify and start shopping for your new home in Baltimore today!  Purchase, Refinance, Cash Out Refinance.

Baltimore Maryland’s best rates and terms for all of your home loan needs in Baltimore. Helping borrowers in Baltimore Maryland qualify for the best First Time Home Buyer loan to meet their borrowing requirements.

First Time Home Borrowers Quiz. See if you qualify here.

Baltimore Maryland is a major city in Maryland with a very long history as an important seaport. Fort McHenry, the birthplace of the  national anthem, “The Star-Spangled Banner,” sits at the mouth of Baltimore’s Inner Harbor. Today, this harbor area offers an array of shopping, upscale crab shacks and attractions like a Civil War era warship the USS Constellation as well as the National Aquarium.

Baltimore is full of open spaces that feature parks, promenades and waterfront recreation, fitness activities and areas to relax. Join a kayak tour of the Inner Harbor, climb the observatory in Patterson Park or hike miles of scenic walking trails for a breathtaking views. 

In Baltimore, Maryland, as in many other places, various types of home loans are available to prospective homebuyers. The most suitable loan for you will depend on your financial situation, credit history, and specific needs. Here are some common types of home loans you may find in Baltimore:

  1. Conventional Loans:
    • Offered by private lenders like, these loans are not insured or guaranteed by the government.
    • Typically require a higher credit score and a down payment of at least 3%.
  2. FHA Loans (Federal Housing Administration):
    • Insured by the federal government, FHA loans are designed to make homeownership more accessible.
    • They often have lower down payment requirements (as low as 3.5%) and are more forgiving of lower credit scores.
  3. VA Loans (Veterans Affairs):
    • Available to eligible veterans, active-duty military members, and certain surviving spouses.
    • Often offer 100% financing, meaning no down payment is required.
      To apply for a No money down VA Loan Click Here!
  4. USDA Loans:
    • Backed by the U.S. Department of Agriculture, these loans are designed for rural and suburban homebuyers who meet income and location eligibility criteria.
    • Offer 100% financing in eligible areas.
  5. Maryland Mortgage Program (MMP):
    • State-run program that offers various loan products, down payment assistance, and closing cost assistance to eligible homebuyers.
  6. Jumbo Loans:
    • Designed for financing high-value homes that exceed conventional loan limits.
    • Typically require a higher credit score and a larger down payment.
  1. Fixed-Rate Mortgages:
    • Interest rates remain constant throughout the loan term.
    • Predictable monthly payments, which can be beneficial for budgeting.
  2. Adjustable-Rate Mortgages (ARMs):
    • Interest rates may change periodically, usually after an initial fixed period.
    • Initial interest rates are often lower than those of fixed-rate mortgages.
  3. Home Equity Loans:
    • Allows homeowners to borrow against the equity in their homes.
    • Can be used for various purposes, such as home improvements or debt consolidation.
  4. Home Equity Lines of Credit (HELOCs):
    • Similar to home equity loans but operates more like a credit card with a revolving line of credit.

Before choosing a loan type, it’s crucial to assess your financial situation, research current interest rates, and consider your long-term homeownership goals. Additionally, consulting with a mortgage advisor or loan officer can help you navigate the available options and find the best fit for your needs. Contact for all of your borrowing needs.


DSCR Loans Florida

Home DSCR Loans in Florida and around the US with a Fix and Flip Loan and DSCR Loan Florida from

Read More »
ultimate guide to dscr loan

Ultimate Guide To DSCR Loans

Home The Ultimate Guide to DSCR Loans: Everything You Need to Know Introduction When it comes to real estate investment, finding innovative financing solutions is

Read More »