Maryland (MD) FHA Home Loans
FHA (Federal Housing Administration) loans are mortgages insured by the FHA which give Maryland borrowers the opportunity to secure MD home loans, when they don’t quality for other conventional loans. For example, future Maryland homeowners with little credit history or poor credit history are sometimes able to qualify for Maryland FHA loans.
Financing and Refinancing with FHA
MD FHA loans are ideal for first-time Maryland homeowners due to low down-payment requirements and flexible qualifying guidelines. FHA also offers a refinancing option for Maryland homeowners where it’s possible to refinance up to 97.5 percent of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85 percent. Requirements
- No income limit
- Maryland borrower credit score flexibility
- 3.5 percent down payment on Maryland Purchase Loans
- Bankruptcy: MD FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: Maryland FHA loans can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
Maryland (MD) FHA Loan Limits
FHA loan limits in Maryland vary based on a number of criteria including the specific location (county), number of units in the property (up to 4-unit properties in Maryland), etc. Please contact Home Point Financial’s Maryland FHA loan experts for details on loan limits for FHA loans in Maryland (MD).
Apply for an FHA Loan
Contact Home Point Financial to learn more about FHA Loans in Baltimore, Columbia, Ownings Mill, Nottingham, and throughout Maryland.
