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Best Maryland DHCD Mortgage Lenders of 2018

Oct. 17, 2018
Finding the Right Mortgage, Mortgages
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners. Here’s how we make money.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.
NerdWallet offers financial tools and advice to help you understand your options and make the best possible decisions. The guidance we offer and information we provide are deeply researched, objective and independent. We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers.

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.

» MORE: Explore Maryland DHCD loan programs, lenders, rates and income limits

Best Maryland DHCD mortgage lenders for expanded loan products and services

These lenders cover the basics, sure — but then offer just a little bit more.

4.0 NerdWallet rating
  • Offers energy-efficient home loans and FHA 203(k) renovation and remodeling loans.
  • Provides mortgages for manufactured homes.
  • An “alternative doc” program uses bank statements rather than tax returns to qualify borrowers.
  • PrimeLending review
3.5 NerdWallet rating
  • A renovation loan “concierge” works with you and your contractor or builder.
  • Each customer receives a survey about their loan experience; negative responses are addressed.
  • Costco members can earn discounts on fees.
  • Homebridge Financial Services review

Best Maryland DHCD mortgage lenders for online and mobile capabilities

These days, you can apply for a loan practically anywhere and anytime. Here are lenders with excellent online and mobile tools.

4.5 NerdWallet rating
  • Ideal choice for a completely online mortgage process.
  • You can securely upload and digitally sign loan documents.
  • No need to speak to a human if you don’t want to.
  • Guaranteed Rate review
4.0 NerdWallet rating
  • Mobile app allows users to apply for a loan in under 10 minutes.
  • Applicants can securely scan and upload documents through the app.
  • A 24/7 online portal allows access to application and loan details.
  • Fairway Independent Mortgage review

Best Maryland DHCD mortgage lenders for borrowers with fair credit

When you’re just starting out, your credit history might not be perfect. These lenders work with borrowers who might need a bit of a qualifying boost.

suntrust mortgage
4.0 NerdWallet rating
  • Has loan programs that cater to borrowers without the traditional 20% down payment.
  • Low- to moderate-income families can access additional loan programs.
  • Provides customer service in person, online, via chat and by phone.
  • SunTrust mortgage review
4.0 NerdWallet rating
  • Certain loan programs allow consideration of nontraditional credit histories.
  • You can apply and check your application status online.
  • Plenty of educational material can be found on its website.
  • BB&T review

Best Maryland DHCD mortgage lenders for customer service

Getting a mortgage is hard enough. These lenders score high marks when it comes to taking care of the customer.

4.5 NerdWallet rating
  • Registers a below-average complaint volume with the Consumer Financial Protection Bureau.
  • A non-bank lender with an lineup of loan products rivaling bank offerings.
  • Has 180 affiliated loan stores nationwide for customers who prefer face-to-face service.
  • loanDepot review
4.5 NerdWallet rating
  • Has a 95% customer satisfaction rating, according to company data.
  • A mortgage process that can be handled entirely online.
  • Qualified loan officers can walk you through any part of the application.
  • Guaranteed Rate review

Best Maryland DHCD mortgage lenders for government mortgages

Government-backed mortgages are often used by first-time home buyers for low- or no-down-payment home loans.

3.0 NerdWallet rating
  • Government-backed mortgages are fully represented with Federal Housing Administration, Veterans Affairs and Department of Agriculture loans.
  • The typical client is a low-down-payment customer.
  • Minimum FICO score of 560 but can go lower on an exception basis.
  • Pacific Union Financial Review
4.5 NerdWallet rating
  • Offers all government-sponsored loan programs.
  • Uses manual underwriting to evaluate creditworthiness.
  • Your loan application can begin in person, by phone, online or via email.
  • New American Funding review

Best Maryland DHCD mortgage lenders: summary

More from NerdWallet

NerdWallet’s selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.