BEST OF

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  

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Maryland is a tiny state that punches well above its weight — it ranks among the wealthiest states in the nation. Buying a home here can be a pricey proposition, especially in the suburbs of Washington, D.C. But from Cumberland to the Chesapeake Bay, wherever you want to call home, you’ll want a trusted lender by your side.

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

Best Maryland Mortgage Lenders

PNC
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at PNC

PNC: NMLS#446303

4.5

NerdWallet rating 
PNC

Min. credit score

620

National / regional

National
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at PNC

Why we like it

Good 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.

  • Has an online application for mortgage preapproval and a digital tool to track application progress.

  • Offers several affordable loan options, including FHA, VA, USDA and the PNC Community Loan.

Cons

  • Doesn't offer renovation mortgages.

  • In-person service is not available in every state.

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Guaranteed Rate
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at Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0

NerdWallet rating 
Guaranteed Rate

Min. credit score

N/A

Min. down payment

20%
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at Guaranteed Rate

Why we like it

Good 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
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at Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.5

NerdWallet rating 
Rocket Mortgage, LLC

Min. credit score

620

Min. down payment

3%
Learn more

at Rocket Mortgage, LLC

Why we like it

Good for: borrowers who appreciate a fully digital home loan experience with mortgage rates lower than other lenders’.

Pros

  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.

  • Mortgage interest rates are on the low side compared to other lenders, according to the latest federal data.

  • Offers the option to work with loan officers by phone if desired.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.

  • Doesn't offer home equity lines of credit.

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

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loanDepot
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loanDepot: NMLS#174457

4.0

NerdWallet rating 
loanDepot

Min. credit score

620

Min. down payment

5%
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Why we like it

Good for: borrowers who want an easy online application and a variety of loan types to explore.

Pros

  • Has branches across the country for customers who prefer face-to-face service.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

  • Mortgage interest rates tend to be on the lower end, according to the latest federal data.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.

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

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SunTrust (Truist)
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SunTrust (Truist): NMLS#2915

4.5

NerdWallet rating 
SunTrust (Truist)

Min. credit score

620

National / regional

National
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Why we like it

Good 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.

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Navy Federal
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Navy Federal: NMLS#399807

4.5

NerdWallet rating 
Navy Federal

National / regional

National

Min. down payment

0%
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Why we like it

Good for: military members and their families looking for low-down-payment mortgages.

Pros

  • Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members.

  • Offers HELOCs and home equity loans.

  • Offers low rates compared with most lenders, according to the latest federal data.

Cons

  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.

  • Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.

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PrimeLending
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PrimeLending: NMLS#13649

4.0

NerdWallet rating 
PrimeLending

Min. credit score

580

Min. down payment

3.5%
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Why we like it

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 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.

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Bank of America
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Bank of America: NMLS#399802

4.0

NerdWallet rating 
Bank of America

Min. credit score

720

Min. down payment

15%
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Why we like it

Good 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.

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Flagstar
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Flagstar: NMLS#417490

4.5

NerdWallet rating 
Flagstar

Min. credit score

620

Min. down payment

3%
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Why we like it

Good for: borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.

Pros

  • Offers a wide range of loan types and products, including FHA, VA and USDA.

  • Borrowers can apply and track loan status online.

  • Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.

Cons

  • Home equity loans are geographically limited.

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

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USAA
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USAA: NMLS#8722

4.0

NerdWallet rating 
USAA

Min. credit score

640

Min. down payment

0%
Read review

Why we like it

Good 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.

Read Full Review

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