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9 best mortgage lenders in Maryland

We combed through over 180 lenders to find our top picks for first-time homebuyers, low rates, stellar customer service and more.

Over 6 million Americans call Maryland home. From picturesque fishing towns on the Chesapeake Bay to bustling downtown Baltimore, there’s enough diversity here to suit a range of lifestyles.

As of December 2020, the median value of a home in Maryland is $335,260, and that figure is expected to rise. According to Zillow, home values in Maryland have risen 6.6% over the past year, and it predicts prices will jump a further 10.2% through the end of 2021.

What are the best mortgage lenders in Maryland?

How we picked the best lenders

We handpicked these companies from more than 180 lenders that reported originating loans in Maryland based on a range of important criteria, including:

  • Fees
  • Interest rates
  • Help for first-time homebuyers
  • Online convenience
  • Credit score flexibility

We also factored in real customer reviews from consumer rating sites like Trustpilot, Wallethub and the Better Business Bureau in our decision-making process. Learn more by reading our mortgage rating methodology.

Best marketplace

LendingTree

LendingTree logo
Go to site
at LendingTree's secure site
Read review
620
Min. credit score
3%
Min. down payment

If you’re looking for a variety of loan options from different lenders, look no further than LendingTree. LendingTree is not a direct mortgage provider. Rather, it’s a free online mortgage marketplace that can connect you with over 1,500 partnered lenders.

Simply fill out a form on the website and you can choose from hundreds of lenders offering a wide selection of home loans in your state.

  • 1,500+ lenders with reviews. LendingTree connects you to a large number of lending options, as well as ratings and customer reviews.
  • Competitive loan offers. LendingTree finds your most competitive loan offers, helping you to quickly compare mortgage rates and options.
  • Alerts on better deals. If LendingTree finds a better rate than your current loan, you get an alert in your LendingTree account.
  • Contact info shared with lenders. LendingTree gives your contact information to various lenders that may email and call you with offers — even after you’ve chosen a lender.
Loan types Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Minimum credit score Conventional: 620
FHA: 500
VA: 620
USDA: 640
Jumbo: 800
Minimum down payment (Conventional) 3%
States available Available in all states

Most popular

Rocket Mortgage

Rocket Mortgage logo
Go to site
at Rocket Mortgage's secure site
Read review
620
Min. credit score
3%
Min. down payment
Rocket Mortgage is owned by the US’s largest online mortgage lender, Quicken Loans. Since 2016, Rocket Mortgage supports a fully online experience where you’re not required to speak to a loan officer unless you want to. By linking to your bank and investment accounts, Rocket Mortgages can verify your assets and credit online, helping to speed up the loan verification process.
  • Instant verification. Verifies your identity and income electronically, so you don’t need to upload extra paperwork.
  • Fully online process. Unlike traditional lenders, Rocket Mortgage’s entire application process and funding take place online.
  • No prepayment penalty. Unlike some lenders, Rocket Mortgage doesn’t charge a prepayment penalty if you pay off your loan early.
  • Application deposit. To apply with Rocket Loans, you must put down a deposit that’s applied to the closing costs if the loan goes through.
  • Not all loan types are available. This lender doesn’t offer USDA loans, construction loans or mobile home mortgages.
  • Must provide login credentials. To take advantage of Rocket Mortgage’s online verification process, you’ll have to provide login credentials to your financial accounts.
Loan types Conventional, Jumbo, FHA, VA, Refinance
Minimum credit score Conventional: 620
FHA: 580
VA: 620
Jumbo: 700
Minimum down payment (Conventional) 3%
States available Available in all states

Best online experience

Beeline

Beeline logo
Go to site
at Beeline's secure site
Read review
620
Min. credit score
3%
Min. down payment

Geared towards the digital savvy borrower, Beeline’s online mortgage application takes as little as 15 minutes and can be completed from any device.

Beeline’s simplified five-step loan application links directly to your financial accounts for immediate verification of assets. Because its decision is based on actual numbers, Beeline can provide a purchase-ready approval in minutes, not days.

  • No messy paperwork. Beeline’s digital application process links to your actual numbers, eliminating the need to dig through paperwork.
  • Low fees. Beeline doesn’t charge an origination fee, processing fee or underwriting fee. As of December 2020, you only pay for a credit report ($60) and a flood certificate ($9).
  • Purchase-ready approval. Beeline’s purchase-ready approval is based on real numbers, not estimates. This makes it more accurate than a standard preapproval, which is not verified.
  • No FHA, VA or USDA loans. Beeline only offers conventional fixed- and adjustable-rate loans.
  • Login credentials required. Though security measures are in place, some borrowers may not feel comfortable providing this information.
Loan types Conventional, Refinance
Minimum credit score 620
Minimum down payment (Conventional) 3%
States available Only available in: AZ, DC, FL, KY, MA, MD, MI, NC, RI, SC, TN, TX, VA

Best for first-time homebuyers

Freedom Mortgage

620
Min. credit score
3%
Min. down payment
Freedom Mortgage works across all 50 states to help homebuyers purchase or refinance for a variety of financial circumstances. The company is especially focused on helping military members and their families with their home loan needs and comes highly rated by past customers. This lender was the highest originator of FHA loans in 2019 in the state of Maryland and offered some of the lowest rates for FHA loans.
  • Low FHA loan rates. Freedom Mortgage has some of the lowest rates for FHA loans compared to other lenders in Maryland.
  • Mortgage calculators available. Freedom Mortgage offers a wide range of calculators to help you determine your payment under a variety of scenarios.
  • Insurance integration. Freedom Mortgage partners with Matic Insurance to provide insurance for your home.
  • No online application. To apply for a home loan, you need to make contact with a Freedom Mortgage loan officer first.
  • Not all loan types are available. The company doesn't offer reverse mortgages or HELOCs.
  • Doesn’t list fees. While not listed, expect to pay from 2% to 5% of your home’s total price in fees, including origination, application and third-party fees.
Loan types Conventional, Jumbo, FHA, VA, USDA, Refinance
Minimum credit score Conventional: 620
FHA: 540
VA: 580
USDA: 640
Minimum down payment (Conventional) 3%
States available Available in all states

Best for customer service

Synergy One Lending

620
Min. credit score
3%
Min. down payment
Synergy One Lending comes highly rated by customers who report being happy with the expertise, communication and service of its loan officers. Besides their superior customer service, Synergy One Lending’s Modern Mortgage Experience technology helps to simplify and streamline the mortgage application process. With their S1 Connect app, you can apply for a home loan, upload documents and track the progress of your application right from your mobile phone.
  • Digital application process. Synergy One Lending can link directly to your financial accounts for immediate asset verification.
  • S1 Connect app. Allows you to apply over your phone, compare rates, upload documents, eSign, track your application and connect with your loan officer all in one place.
  • Eliminates guesswork. Track your mortgage application in real-time using the S1 Connect app.
  • Logins required for account verification. While optional, to use Synergy One Lending’s account verification feature, you must provide login credentials to your financial accounts.
  • Interest rates not listed. Synergy One Lending doesn’t list its interest rates online. You’ll need to contact the company for more information.
  • Costs or fees not transparent. This lender doesn’t list their costs and fees on their website.
Loan types Conventional, Jumbo, FHA, VA, USDA, Reverse, Refinance
Minimum credit score 620
Minimum down payment (Conventional) 3%
States available AL, AR, AZ, CA, CO, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, MT, NE, NM, OH, OK, OR, SC, SD, TN, TX, UT, WA, WI, WY

Best for a range of credit scores

Mr. Cooper

620
Min. credit score
5%
Min. down payment
Since August 2017, Nationstar Mortgage has been working as the rebranded Mr. Cooper mortgage company. The lender has a smaller selection of home loans available, but balances that with a selection of money-saving programs. While the company doesn’t have the best online reputation, they may be a reasonable choice if a lower credit score is making it difficult to get a mortgage through other lenders.
  • App available. The Mr. Cooper mobile app can be used to make payments, track your home value and equity and find ways to lower your monthly payment.
  • Close-on-time guarantee. If your qualifying mortgage doesn’t close on time, Mr. Cooper will pay your first mortgage payment.
  • Upload documents electronically. Mr. Cooper allows you to upload your financial documents online.
  • Negative online reviews. Mr. Cooper doesn’t have the best online reputation, with an average customer rating of 4.2/5 on ConsumerAffairs.com as of December 2020.
  • Fewer loans to choose from. Compared to other lenders, you may find the selection of loans more limited.
  • May be hard to contact. Customers report having difficulty contacting the company and resolving issues.
Loan types Conventional, Jumbo, FHA, VA, Refinance
Minimum credit score Conventional: 620
Minimum down payment (Conventional) 5%
States available Available in all states

Best rates

Bank-Fund Staff Federal Credit Union

Bank-Fund Staff Federal Credit Union logo
620
Min. credit score
3%
Min. down payment
Bank-Fund Staff Federal Credit Union (BFSFCU) is a full-service financial cooperative that offers members tailored products and services to its members, including mortgage products for primary and secondary residences and investment homes. With some of the most competitive interest rates in Maryland, a BFSFCU loan can help you save.
  • Rates listed. Unlike most lenders, BFSFCU allows you to search for interest rates on their website.
  • HomeAdvantage. For members only, HomeAdvantage is a package of online decision support tools, preapproved real estate agents and a cash rewards program.
  • Hands-on application process. A BFSFCU loan officer will help you at every stage of your mortgage application.
  • Only select groups can join. Only employees, staff members and officers of the World Bank Group, International Monetary Fund, Bretton Woods Recreation Center, World Bank Children's Center or BFSFCU can join the credit union.
  • No FHA, VA or USDA loans. The credit union only offers conventional loans.
  • Negative reviews. Some customers have complained about poor service and communication from the credit union.
Loan types Conventional, Jumbo, Home Equity, HELOC, Refinance
Minimum credit score Conventional: 620
Minimum down payment (Conventional) 3%
States available Available in all states

Best regional lender

First Home Mortgage

620
Min. credit score
3%
Min. down payment
First Home Mortgage is a licensed, full-service mortgage lender that knows its local markets and works closely with home buyers in their communities to achieve homeownership. If you’re looking for a company that takes a more personalized approach, First Home Mortgage may be a good option.
  • Lending-focused website. First Home Mortgage provides an easy-to-navigate website where you can drill down into different mortgages and loan programs.
  • Reconstruction loans. If you’re looking to renovate, First Home Mortgage can help design a reconstruction loan package that’s tailored to your needs.
  • Down payment assistance programs. This lender can work with you to find specific state programs to help with your down payment.
  • Must contact a loan officer. While other companies let you apply online, you must contact a loan officer to get started.
  • Doesn’t disclose fees. First Home Mortgage doesn’t list origination fees or closing costs on its website.
  • Doesn’t list interest rates. This lender posts no interest rates online. You’ll need to contact a loan officer for more information.
Loan types Conventional, Jumbo, FHA, VA, USDA, Refinance
Minimum credit score Conventional: 620
Minimum down payment (Conventional) 3%
States available CT, DC, DE, FL, GA, IN, MA, MD, ME, MI, NC, NH, NJ, PA, RI, SC, TN, VA, WV

Best for refinancing

First Financial Credit Union

First Financial Credit Union logo
620
Min. credit score
3%
Min. down payment
First Financial Federal Credit Union extends membership to employees, students and parents of the Baltimore and Carroll County Public School Systems and beyond. While this credit union originated fewer than 200 loans in 2019, they had the lowest average refinance rates compared to other lenders in Maryland.
  • Rates available online. First Financial Credit Union posts their current mortgage interest rates online.
  • Online application for existing customers. Existing customers can apply for a mortgage through their online banking account.
  • No-cost refinancing prequalification. If you’re looking to refinance and want information, this credit union provides a free, no-obligation prequalification.
  • Not all loan types are available. Does not offer FHA, VA, or USDA loans, construction loans, or mobile home mortgages.
  • Doesn’t list fees. While not listed, you’ll pay anywhere from 2% to 5% of your home’s total price in fees, including origination, application and third-party fees.
Loan types Conventional, Home equity, HELOC, Refinance
Minimum credit score 620
Minimum down payment (Conventional) 3%
States available Only available in: MD, PA

How do I choose the best lender for me?

With so many mortgage companies in Maryland, it can be hard to narrow down the right one. Here’s what you should be aware of as you compare different lenders.
  • Read online reviews. Unbiased customer reviews are one of the best ways to find out if a lender is worth considering.
  • Shop different lenders. Be sure to shop around and see what mortgage rates different lenders are offering.
  • Prepare to bargain. Before you accept a loan offer, always try to negotiate better terms and a lower rate. Getting preapprovals from a few different lenders can give you more leverage.
  • Always read the fine print. Before signing any paperwork, take the time to read all documents and ask questions. Consult a lawyer if you need further assistance.

Compare mortgage lenders and brokers

Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). Select See rates to provide the company with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
Morty
(NMLS #1429243)
Morty
Conventional, Jumbo, Refinance
AL, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, MD, ME, MI, MN, MS, MT, NC, NE, NJ, NM, OH, OK, OR, PA, SC, TN, VA, WA, WI, WV
660
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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Compare up to 4 providers

Average rates and fees in Maryland

As of December 17, 2020, the average mortgage rate in the US is 2.87%, with the rate slightly lower in Maryland. According to data from the Consumer Financial Protection Bureau, most lenders in Maryland are offering rates at or below 2.75 at this time of writing.

Closing costs in the US typically range from 2% to 5% of your home’s sale price. Maryland is right in the middle of that range, with closing costs now averaging 3.65% in the state. For more information, see our guides on mortgage rates in Maryland and Maryland closing costs.

What about brokers?

Besides LendingTree, this list only covers direct lenders in Maryland who can underwrite their own mortgage loans. That said, if you don’t have the time to compare lenders yourself, you can consider working with a mortgage broker to have them do the work for you.

While many mortgage brokers are trustworthy, others may charge unnecessary fees that you don’t need to pay. As with searching for a loan, you’ll want to compare different mortgage brokers and read their online reviews to make sure they’re a good fit.

Bottom line

There’s no one right loan for everyone. While these nine lenders have a lot to offer, no single mortgage lender is likely to be ideal for every borrower. Depending on your circumstances and budget, you may want to compare other lenders.

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.

Read the full methodology of how we rate home loan providers.

More guides on Finder

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