Maryland Conventional Loan Engineered to Your File
A Maryland Conventional Loan done right: 3% down for qualified buyers, honest conforming math, real PMI structure. We run your file before recommending anything - real numbers first.
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Why Conventional Earns the Move in Maryland
Down Payments as Low as 3 Percent in Maryland
3% down is real but tied to qualification rules. HomeReady and Home Possible open 3% to qualified files - we verify eligibility first.
Conventional Rates vs FHA in Maryland
Once mortgage insurance is included, conventional often wins over FHA. We model all options against your file before recommending anything.
PMI Cancellation Rules for Maryland Buyers
PMI on conventional loans has a clear exit, unlike FHA. Cancellation comes automatically at 78% LTV or earlier at 80% via appraisal.
Our Rates For You
CONV 30 Year Purchase
Rates and APR shown are based on a $350,000 loan amount, 850 credit score, primary residence, single family home, 75% loan to value ratio, and owner occupied property. Payment example assumes no other liens on the property and includes principal and interest only. Taxes, insurance, mortgage insurance, and escrow items are not included and will increase the actual payment. Rates, APR, and points are subject to change without notice and may vary based on credit profile, property type, occupancy, loan to value, loan amount, and other qualifying factors. Not all borrowers will qualify.
Your Path to a Maryland Conventional
Three Things a Maryland Conventional Loan Does Right
Loan Amounts That Cover Most Maryland Markets
Conforming loans stay within FHFA's annual limits. Limits cover most purchase prices today. We confirm whether your target falls within conforming, high-balance, or jumbo before quoting. Each tier has different rate and program rules.
Maryland Fixed vs Adjustable Options
30-year fixed, 15-year fixed, plus 5/6, 7/6, and 10/6 ARM options. Long stays favor fixed. Short stays often favor ARM. We model both against your specific timeline before any recommendation.
Property Type Flexibility on Maryland Conventional
Conventional handles primary residences, second homes, and investment properties. Each property type has its own rules. Primary starts at 3% for qualified buyers. Second home: 10% minimum. Investment: 15-25% down with rate hits.
$810M
18 Years
27500+
Conventional vs Other Loans
Conventional
FHA
VA
USDA
For homes beyond standard loan limits.
High value homes should not mean high stress financing. A conventional loan with jumbo options offers competitive rates, simple terms, and a clear path to purchase without compromise.
What could you afford with a conventional loan
Before you fall for a listing, see how the math feels. Use the calculator to test price, down payment, and taxes for your county. You will know what is comfortable before you schedule tours.
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A Maryland Conventional Loan is not backed by a government agency. It follows Fannie Mae or Freddie Mac guidelines and is funded by private lenders, with terms based on your credit, down payment, and DTI. Most Maryland buyers use a 30-year fixed.
Minimum down payment runs 3% for qualified buyers using HomeReady or Home Possible. Standard conventional purchases need 5% minimum. 20% down kills PMI entirely. We model 3%, 5%, 10%, and 20% on your file before recommending.
Yes - conventional loans typically start at 620 credit. Lender overlays sometimes push it to 640 or 660. Below 620, FHA usually wins. We pull credit on day one and walk through which programs your score allows.
Automatic PMI cancellation happens at 78% LTV based on original value. Borrower-requested cancellation at 80% based on current value (appraisal required). Once cancelled, PMI never returns - FHA MIP usually does not cancel.
Fixed rate locks your payment for the entire term. ARM starts lower, then adjusts after 5, 7, or 10 years. Fixed favors long-term holds. ARM favors plans to sell or refinance before the initial period ends.
$806,500 is the 2026 conforming standard limit on single-family homes in most counties. Above standard, loans become jumbo with different underwriting and rate structures. We confirm where your loan falls before quoting.
Conventional loans qualify for primary, second home, and investment property. Primary at 3% for qualified buyers. Second home: 10% minimum. Investment: 15-25% with rate hits. We confirm your scenario before quoting any number.
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Advertised offers are not guaranteed if you do not continue to meet Oxford Home Lending's criteria and other factors bearing on your creditworthiness. Rates will vary depending on your loan term, loan type, credit profile & score, down payment, qualifying ratios, and property collateral. Monthly payments do not include property taxes, property insurance, and homeowners' association dues. Since costs can vary based on a loan program, closing costs are not shown in the examples. To qualify for a mortgage, borrowers must be U.S. citizens or permanent residents, and meet Oxford Home Lending's underwriting and Investor requirements. Interest rate examples are as of 03/03/2026 and subject to change without notice. All loans are subject to underwriting or investor approval. Other restrictions may apply. This is not an offer of credit or a commitment to lend. Rate subject to change depending on time of lock.
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Lower, LLC | NMLS ID# 1124061 | 5950 Symphony Woods Road Suite 312 Columbia, MD 21044 | Equal Housing Opportunity | https://nmlsconsumeraccess.org/ | Not an offer of credit or commitment to make a loan; all approvals are subject to underwriting guidelines including but not limited to acceptable current credit worthiness, income history, debt ratio, etc. Loan programs & options are subject to change at any time. Rates will vary depending on your loan term, loan type, credit profile, down payment, and qualifying ratios. Rates can change daily. Some restrictions may apply. No statement herein should be construed as being made on behalf of any state or federal agency.
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