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10 Best Maryland Mortgage Lenders of 2021

NerdWallet has examined some of the leading lenders in Maryland to help you find a home loan source in a variety of mortgage categories.

By
NerdWallet
Jan 28, 2021

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

Best Maryland Mortgage Lenders

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Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
Guaranteed Rate

Guaranteed Rate: NMLS#2611

Learn moreat Guaranteed Rate
at Guaranteed Rate

N/A

20%

Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

Learn moreat Rocket Mortgage, LLC
at Rocket Mortgage, LLC
4.0
/5
Best for online experience

620

3%

Learn moreat Rocket Mortgage, LLC
at Rocket Mortgage, LLC
PNC

PNC: NMLS#446303

4.5
/5
Best for refinancing

620

3%

loanDepot

loanDepot: NMLS#174457

3.5
/5
Best for online experience

620

5%

SunTrust (Truist)

SunTrust (Truist): NMLS#2915

4.5
/5
Best for refinancing

620

3%

Navy Federal

Navy Federal: NMLS#399807

4.0
/5
Best for first-time home buyers

N/A

0%

PrimeLending

PrimeLending: NMLS#13649

4.0
/5
Best for government-backed mortgages

580

3.5%

Bank of America

Bank of America: NMLS#399802

4.0
/5
Best for jumbo home loans

720

15%

Flagstar

Flagstar: NMLS#417490

5.0
/5
Best for first-time home buyers

620

3%

USAA

USAA: NMLS#8722

3.5
/5
Best for government-backed mortgages

640

0%

Guaranteed Rate
Learn moreat Guaranteed Rate
at Guaranteed Rate
Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0
Min. credit score

N/A

Min. down payment

20%

Why We Like ItGood for: borrowers seeking a solid variety of loan types, including jumbo and interest-only options, and a totally online experience.
Pros
  • Displays detailed sample rates for many of its loan products.
  • Offers a wide variety of loans, including jumbo and interest-only products.
  • Offers low rates compared with other lenders, according to the latest federal data.
Cons
  • Doesn't offer home equity loans.
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Rocket Mortgage, LLC
Learn moreat Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.0
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: FHA borrowers and others short on down payment cash, as well as home buyers who value convenience over low fees.
Pros
  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
  • Offers the option to work with loan officers by phone if desired.
  • Largest FHA lender in the nation.
Cons
  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.
  • Doesn't offer home equity lines of credit.
PNC

PNC: NMLS#446303

Min. credit score

620

National / regional

National

Why We Like ItGood for: borrowers with low-to-moderate incomes or limited down payments. PNC offers several low-down-payment loans, including one with no mortgage insurance.
Pros
  • Posts current mortgage rates on its website.
  • Offers several affordable loan options, including FHA, VA, USDA and the PNC Community Loan.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Doesn't offer renovation mortgages.
  • In-person service is not available in every state.
loanDepot

loanDepot: NMLS#174457

Min. credit score

620

Min. down payment

5%

Why We Like ItGood for: borrowers who are comfortable with an entirely online experience, and who want a one-stop shop for buying and selling.
Pros
  • Offers a variety of repayment terms.
  • Online loan calculator lets borrowers compare monthly payments and lifetime interest.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • No sample interest rates are provided.
  • Origination fees are on the higher end, according to the latest federal data.
  • Lender’s website does not have a live chat feature.
SunTrust (Truist)

SunTrust (Truist): NMLS#2915

Min. credit score

620

National / regional

National

Why We Like ItGood for: borrowers seeking rate-and-term, cash-out or VA IRRRL refinancing.
Pros
  • Offers a wide variety of loan options, including special programs for doctors.
  • 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.
Navy Federal

Navy Federal: NMLS#399807

National / regional

National

Min. down payment

0%

Why We Like ItGood for: Military borrowers who’ve exhausted their VA loan benefits and qualified government employees who want to compare mortgage options without down payments.
Pros
  • Offers unique loan options aimed at military borrowers, such as a proprietary loan called Military Choice that works as an alternative to VA loans.
  • 24/7 customer service supports borrowers stationed overseas.
  • Offers home equity loans and lines of credit.
Cons
  • Borrowers must join the credit union before applying for a mortgage.
  • The lender does not offer renovation or construction loans.
  • When we tried their customer service line, we sometimes waited longer than 10 minutes before being connected with a representative who could answer our questions.
PrimeLending

PrimeLending: NMLS#13649

Min. credit score

580

Min. down payment

3.5%

Why We Like ItGood 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 government-backed mortgage and refinance options, including FHA, USDA and VA loans.
Cons
  • No online mortgage rates — you have to contact the lender for info.
Bank of America

Bank of America: NMLS#399802

Min. credit score

720

Min. down payment

15%

Why We Like ItGood for: first-time home buyers looking for low- or no-down-payment options and homeowners interested in a home equity line of credit.
Pros
  • Offers down payment and closing cost assistance programs.
  • May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Doesn't offer renovation loans that roll costs into a mortgage.
Flagstar

Flagstar: NMLS#417490

Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: Borrowers who may benefit from Flagstar’s unique loan options, such as ITIN loans, loans for manufactured homes or physician loans.
Pros
  • Multiple loans for those who are renovating or building a home, including loans with interest-only payments during construction.
  • Offers home equity loans and lines of credit.
  • Offers down payment assistance and loans for underserved borrowers, including ITIN loans and loans with flexible qualifications in certain communities.
  • Interest rates are on the low side relative to other lenders, according to the latest federal data.
  • Borrowers can enter their information (including their desired loan amount, down payment and zip code) into the lender’s Mortgage Quote Comparison tool and receive a customized rate quote.
Cons
  • Home equity loans are not available in all locations served by Flagstar.
  • In 2022, the lender was fined for violating laws regarding properties in flood zones.
USAA

USAA: NMLS#8722

Min. credit score

640

Min. down payment

0%

Why We Like ItGood for: veterans, active-duty service members and eligible reservists looking for VA loans.
Pros
  • VA loans are the bulk of USAA’s business, so it knows the ins and outs of eligibility.
  • Offers a conventional home loan with low down payment for first-time buyers.
  • Mortgage interest rates are on the low side compared with other lenders, according to the latest federal data.
Cons
  • Doesn’t offer FHA or USDA loans, or second mortgages.
  • Limited mortgage rate information is on the USAA website. For customized rates, you'll have to make contact.

More from NerdWallet
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Last updated on January 28, 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 Mortgage Lenders of 2021

  • Guaranteed Rate: Best for jumbo home loans
  • Rocket Mortgage, LLC: Best for online experience
  • PNC: Best for refinancing
  • loanDepot: Best for online experience
  • SunTrust (Truist): Best for refinancing
  • Navy Federal: Best for first-time home buyers
  • PrimeLending: Best for government-backed mortgages
  • Bank of America: Best for jumbo home loans
  • Flagstar: Best for first-time home buyers
  • USAA: Best for government-backed mortgages
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