Maryland First-Time Home Buyer Programs of 2021

By NerdWallet 
Updated

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Whether you want to live in the hills of western Maryland or the historic neighborhoods of Baltimore, buying your first house can be intimidating. Knowing where to find the right loan and assistance programs makes the process easier, especially if you have less-than-perfect credit or need help with a down payment.

Learn more about the first-time home buyer programs available from the Maryland Department of Housing and Community Development, or DHCD, as well as national loan programs that may benefit you.

National first-time home buyer programs

These loans, available in all 50 states, offer flexible underwriting requirements that come in handy when you're a first time home buyer. If you've had credit issues or struggled to save up a big down payment, be sure to explore these national mortgage options.

Conventional mortgage

Best for:

Low down payments, limited mortgage insurance premiums

What you need to know:

A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie Mac allow down payments as low as 3% for first-time buyers or lower-income home buyers. Unlike FHA loans, conventional loans allow borrowers to eventually cancel their mortgage insurance or avoid mortgage insurance altogether if they put at least 20% down.

Mortgage loans from our partners

New American Funding - PURCHASE logo
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New American Funding

4.5

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New American Funding - PURCHASE logo

4.5

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Min. credit score 
500

Min. down payment 
3.5%

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on New American Funding

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Better

4.5

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4.5

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Min. credit score 
620

Min. down payment 
3%

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NBKC - PURCHASE logo
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NBKC

4.5

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NBKC - PURCHASE logo

4.5

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Min. credit score 
620

Min. down payment 
3%

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Rocket Mortgage - PURCHASE logo
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on Rocket Mortgage

Rocket Mortgage

4.0

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Rocket Mortgage - PURCHASE logo

4.0

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Min. credit score 
620

Min. down payment 
1%

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Guaranteed Rate - PURCHASE logo
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on Guaranteed Rate

Guaranteed Rate

5.0

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Guaranteed Rate - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

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on Guaranteed Rate

Mortgage loans from our partners

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

Better - PURCHASE logo
Check Rate

on Better

Better

4.5

NerdWallet rating 
Better - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on Better

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

4.5

NerdWallet rating 
NBKC - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on NBKC