FHA Loan Specialists in Baltimore, MD
Directory of fha loan specialists in Baltimore, Maryland. Verify credentials with the state state mortgage licensing authority before hiring.
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the
State Mortgage Licensing Authority of Maryland before hiring.
Showing 18 fha loan specialists in Baltimore, MD
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
An FHA loan specialist in Baltimore Maryland can guide you through the process of obtaining a Federal Housing Administration insured mortgage. These loans are popular for first time buyers and those with lower credit scores. Maryland offers additional programs like the Maryland Mortgage Program which can be combined with FHA loans for down payment assistance.
What Does a FHA Loan Specialist in Baltimore Cost?
Typical costs for an FHA loan in Maryland include an upfront mortgage insurance premium (UFMIP) of 1.75 percent of the loan amount and an annual MIP of 0.55 to 0.85 percent depending on loan term and down payment. Closing costs in Baltimore usually range from 2 to 5 percent of the purchase price. Lender fees and third party costs vary. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the credit score requirements for an FHA loan in Baltimore?
The standard FHA loan requires a minimum credit score of 580 for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment. Each lender in Baltimore may set their own requirements above these minimums.
Are there specific FHA loan limits for Baltimore City in 2024?
Yes, FHA loan limits vary by county. For Baltimore City in 2024, the standard FHA loan limit for a single family home is $498,257. High cost area limits may apply for certain neighborhoods. A local specialist can confirm current limits for your property.
Can I use an FHA loan to buy a condo in Baltimore?
Yes, but the condo complex must be on the FHA approved condo list. Many older buildings in Baltimore may not be approved. Your specialist can help verify if a specific condo qualifies before you make an offer.