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.
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.
- 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
- 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.
- 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
- 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.
- 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
- 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.
- 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
- 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.
- 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
- 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
- PrimeLending: Best for expanded loan products and services.
- Homebridge Financial Services: Best for expanded loan products and services.
- Guaranteed Rate: Best for online and mobile capabilities.
- Fairway Independent Mortgage: Best for online and mobile capabilities.
- SunTrust: Best for borrowers with fair credit.
- BB&T: Best for borrowers with fair credit.
- loanDepot: Best for customer service.
- Guaranteed Rate: Best for customer service.
- Pacific Union Financial: Best for government mortgages.
- New American Funding: Best for government mortgages.
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