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9 Best Maryland DHCD Mortgage Lenders of 2021

The Maryland DHCD helps first-time home buyers in Maryland realize their homeownership ambitions. These are among the highest-rated DHCD lenders, as determined by NerdWallet.

NerdWalletJanuary 22, 2021
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The Maryland Department of Housing and Community Development helps first-time buyers realize their homeownership ambitions. Working with local lenders, the Maryland DHCD offers a number of programs to help make buying a home more affordable.

To take advantage of these first-time home buyer programs, you’ll need to work with a participating lender. We researched Maryland DHCD’s over 80 state-approved banks and mortgage companies and compiled a summary of lenders ranking among NerdWallet’s highest-rated.

Summary of Best Maryland DHCD Mortgage Lenders of 2021

PrimeLending: NMLS#13649

3.5

NerdWallet rating 
Min. Credit Score

620

Min. Down Payment

3%

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.
  • Offers a "float-down" interest rate lock.
  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates — you have to contact the lender for info.
  • Doesn't offer home equity products.
Read full review

HomeBridge: NMLS#6521

3.5

NerdWallet rating 
Min. Credit Score

620

Min. Down Payment

3%

Good for borrowers who want a loan officer's help, in person or on the phone, when deciding among the wide range of available mortgage options — including loans to buy and renovate.

Pros

  • Offers a full array of mortgage products, including government and renovation loans.
  • Has loans for most purposes, including purchase, refinance and jumbo mortgages.
  • Online portal keeps borrowers up-to-date on the loan application's progress.

Cons

  • Doesn't post interest rates on its site.
  • Doesn’t offer home equity loans or lines of credit.
Read full review
Guaranteed Rate

at Guaranteed Rate

5.0

NerdWallet rating 

at Guaranteed Rate

Min. Credit Score

620

Min. Down Payment

3%

Good for: borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.
  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.
Read full review
Fairway Independent Mortgage

at Fairway Independent Mortgage

4.0

NerdWallet rating 

at Fairway Independent Mortgage

Min. Credit Score

620

Min. Down Payment

3%

Good for: borrowers who want access to a wide variety of mortgages and the convenience of a comprehensive mobile application process.

Pros

  • Offers a robust suite of loan products, including a variety of renovation loans.
  • Has a digital application that can be completed in 10 minutes.
  • Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.

Cons

  • Mortgage rates aren't posted online.
Read full review

SunTrust (Truist): NMLS#2915

5.0

NerdWallet rating 
Min. Credit Score

620

Min. Down Payment

3%

Good for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options.

Pros

  • Offers a wide variety of loan options, including special programs for doctors, entrepreneurs and other professionals.
  • Offers a complete suite of online mortgage application tools and loan tracking.
  • Sample rates and fees are easy to find on the website.

Cons

  • Customized rates aren't available online without starting an application.
  • Branches are limited mostly to the Southeast.
Read full review

BB&T (Truist): NMLS#399803

4.5

NerdWallet rating 
Min. Credit Score

620

Min. Down Payment

3%

BB&T excels in online convenience and offers a good variety of loan types, but has a limited physical presence outside the Southeast.

Pros

  • Offers a variety of low-down-payment mortgages as well as construction mortgages.
  • Website lets users estimate rates online by loan and property type, amount and location.
  • Has an online mortgage application.

Cons

  • Branches limited to mostly the Southeast region.
  • Does not offer FHA loans.
Read full review
loanDepot

at loanDepot

3.5

NerdWallet rating 

at loanDepot

Min. Credit Score

620

Min. Down Payment

5%

Good for: borrowers looking to refinance or who want to start the application process online.

Pros

  • Offers digital income, asset and employment verification.
  • Offers multiple renovation loan options.
  • Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.
  • Does not offer home equity loans or lines of credit.
Read full review
Guaranteed Rate

at Guaranteed Rate

5.0

NerdWallet rating 

at Guaranteed Rate

Min. Credit Score

620

Min. Down Payment

3%

Good for: borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.
  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.
Read full review

Caliber: NMLS#15622

3.5

NerdWallet rating 
Min. Credit Score

620

Min. Down Payment

3%

Good for: first-time home buyers, veterans and those who may have credit challenges to overcome.

Pros

  • Offers extensive educational resources for military borrowers.
  • Provides digital tools for a streamlined application process.
  • Participates in some state down payment assistance and first-time home buyer programs.

Cons

  • No mortgage rates displayed online.
  • Doesn’t offer home equity loans or lines of credit.
Read full review
New American Funding

at New American Funding

4.5

NerdWallet rating 

at New American Funding

Min. Credit Score

620

Min. Down Payment

3%

Good for: borrowers who need to be evaluated on the basis of nontraditional credit and those interested in various down payment assistance programs.

Pros

  • Uses manual underwriting to evaluate creditworthiness.
  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.
Read full review

Last updated on January 22, 2021

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best Maryland DHCD Mortgage Lenders of 2021