Baltimore FHA Loan Rates, Closing Costs & Stats

BALTIMORE-COLUMBIA-TOWSON, MD

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Baltimore's 219 lenders originated 7,369 FHA loans during 2024. The total origination value was $2,507,085,000, with an average FHA loan value of $340,221.

    Baltimore FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Baltimore averaged 6.63% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Baltimore's average FHA mortgage closing costs are $9,800.

    The average rate for the prior week (2025-07-11) was 6.83% and one month ago for the week of 2025-06-13, the average rate was 6.69%.

    The average rate one year ago was 6.75%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.7%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Baltimore FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Baltimore level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 516 6.27% $13,779
    UNITED WHOLESALE MORTGAGE, LLC 439 6.09% $15,355
    FREEDOM MORTGAGE CORPORATION 276 6.37% $14,130
    NFM, INC. 257 6.75% $13,755
    Meridian Bank Corporation 223 6.36% $11,158
    FIRST HOME MORTGAGE CORPORATION 215 6.69% $15,286
    NVR Mortgage Finance, Inc. 204 6.19% $16,857
    DIRECT MORTGAGE LOANS, LLC 198 6.66% $13,135
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 161 6.72% $11,885
    PENNYMAC LOAN SERVICES, LLC 159 5.92% $11,635
    Towne Bank 146 6.21% $12,085
    PRIMARY RESIDENTIAL MORTGAGE, INC. 145 6.71% $13,792
    CROSSCOUNTRY MORTGAGE, LLC 129 6.59% $13,717
    MOVEMENT MORTGAGE, LLC 122 6.40% $13,008
    Residential Mortgage Solutions, Inc. 116 6.71% $11,678
    NEWREZ LLC 98 6.39% $13,351
    City Lending Inc. 92 7.15% $16,075
    LOANDEPOT.COM, LLC 88 6.26% $13,200
    M&T Bank 86 6.14% $10,521
    FIDELITY DIRECT MORTGAGE, LLC 79 6.61% $14,086
    BROKER SOLUTIONS, INC. 74 6.83% $13,324
    CMG MORTGAGE, INC. 72 6.35% $14,581
    HOMESPIRE MORTGAGE CORPORATION 71 6.73% $14,388
    Prosperity Home Mortgage, LLC 70 6.32% $12,723
    Ameris Bank 65 6.30% $10,779
    Paramount Residential Mortgage Group, Inc. 64 6.62% $13,972
    EMBRACE HOME LOANS, INC. 63 6.45% $14,574
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 59 6.36% $12,152
    Sandy Spring Bank 58 6.44% $12,014
    HOMESIDE FINANCIAL, LLC 53 6.62% $13,273
    BAY CAPITAL MORTGAGE CORPORATION 51 6.30% $12,919
    EMM LOANS LLC 50 6.33% $15,046
    GUILD MORTGAGE COMPANY 49 6.59% $13,202
    Mr. Cooper ( Nationstar Mortgage ) 48 6.41% $13,736
    DHI MORTGAGE COMPANY, LTD. 47 5.37% $11,216
    AMERICAN FINANCIAL NETWORK, INC. 46 6.86% $16,003
    BAY EQUITY LLC 44 6.52% $12,243
    SUN WEST MORTGAGE COMPANY, INC. 43 6.07% $15,409
    Carrington Mortgage Services, LLC 40 6.45% $15,810
    EAGLE HOME MORTGAGE, LLC 40 6.16% $17,519
    Truist 39 6.24% $11,962
    DAS Acquisition Company, LLC 39 6.31% $12,682
    NATIONWIDE MORTGAGE BANKERS, INC. 38 6.82% $15,742
    Plains Commerce Bank 38 6.26% $14,339
    TOWNE MORTGAGE COMPANY 38 6.47% $9,790
    VILLAGE CAPITAL MORTGAGE 38 6.52% $8,394
    MUTUAL OF OMAHA MORTGAGE, INC. 36 6.49% $15,728
    Presidential Bank, FSB 35 6.24% $14,136
    BAYSHORE MORTGAGE FUNDING, LLC 35 6.61% $14,833
    Sierra Pacific Mortgage Company, Inc. 34 6.26% $12,358
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 34 6.25% $5,424
    Equity Prime Mortgage LLC 34 6.76% $13,452
    MORTGAGE EQUITY PARTNERS LLC 33 6.61% $14,836
    First Heritage Mortgage, LLC 32 6.27% $12,335
    CHURCHILL MORTGAGE CORPORATION 32 6.50% $15,029
    SWBC MORTGAGE CORPORATION 31 6.67% $10,612
    Fulton Bank 30 6.45% $11,568
    Vellum Mortgage, Inc. 30 6.58% $12,074
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 28 6.46% $15,243
    Keystone Funding, Inc. 27 6.13% $14,404
    CARDINAL FINANCIAL 26 6.45% $13,469
    OCMBC, INC. 26 6.82% $14,388
    LAKEVIEW LOAN SERVICING, LLC 26 6.17% $10,228
    FIRST COMMUNITY MORTGAGE, INC. 26 6.69% $12,417
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 26 6.75% $13,073
    Shore United Bank 24 6.11% $13,398
    PRIMELENDING, A PLAINSCAPITAL COMPANY 23 6.70% $11,532
    UNIVERSAL MORTGAGE & FINANCE, INC. 22 6.89% $21,865
    PLAZA HOME MORTGAGE, INC. 22 6.49% $14,083
    Lakeview Community Capital, LLC 22 6.12% $9,398
    UNION HOME MORTGAGE CORP. 22 6.53% $14,856
    ENVOY MORTGAGE, LTD 22 6.59% $13,727
    Century Mortgage Company DBA Century Lending Company 22 6.34% $14,911
    United Bank 21 6.29% $10,977
    PNC Bank 21 6.26% $10,725
    Flagstar Bank, FSB 20 6.00% $13,268
    GUARANTEED RATE, INC. 20 6.63% $12,775
    GUARANTEED RATE AFFINITY, LLC 19 6.62% $11,273
    HOMEBRIDGE FINANCIAL SERVICES, INC. 18 6.28% $11,331
    Atlantic Coast Mortgage, LLC 18 6.64% $15,510
    PULTE MORTGAGE LLC 17 6.23% $11,202
    Capital Bank 16 6.25% $11,446
    1ST FINANCIAL, INC. 16 6.79% $15,678
    AMERISAVE MORTGAGE CORPORATION 16 6.02% $13,657
    MID AMERICA MORTGAGE, INC. 16 7.48% $16,029
    T2 FINANCIAL LLC 15 6.91% $11,535
    RADIUS FINANCIAL GROUP INC. 15 6.61% $13,763
    LOANPAL, LLC 15 5.80% $12,514
    AFFORDABLE MORTGAGE ADVISORS, LLC. 14 6.67% $11,137
    East Coast Capital Corp. 13 6.61% $17,955
    RELIANCE FIRST CAPITAL, LLC 13 6.39% $18,693
    PLANET HOME LENDING, LLC 13 6.22% $13,796
    ZILLOW HOME LOANS, LLC 12 6.26% $13,306
    Mortgage Research Center, LLC 12 6.71% $8,763
    WesBanco 12 6.31% $11,499
    GEO-CORP, INC. 11 7.56% $19,488
    PENTAGON FEDERAL CREDIT UNION 11 5.78% $12,851
    American Mortgage & Equity Consultants, Inc. 11 6.66% $15,512
    AMERICAN FINANCIAL RESOURCES, INC. 11 6.57% $12,943
    MY MORTGAGE, INC. 10 6.60% $13,729
    CALCON MUTUAL MORTGAGE LLC 10 6.85% $12,781
    The Federal Savings Bank 10 6.50% $15,369
    The Loan Store, Inc. 10 6.21% $13,568
    GENEVA FINANCIAL, LLC 10 6.50% $12,670
    Homesale Mortgage, LLC 8 6.83% $9,759
    MICHIGAN MUTUAL, INC. 8 6.34% $16,838
    SOUTHERN TRUST MORTGAGE, LLC 8 6.45% $14,247
    PHH Mortgage Corporation 8 6.37% $10,529
    EVERETT FINANCIAL, INC. 8 7.05% $15,151
    EQUITY RESOURCES, INC. 7 6.73% $11,993
    LAND HOME FINANCIAL SERVICES, INC. 7 7.18% $17,145
    INTERCOASTAL MORTGAGE COMPANY 7 6.41% $13,493
    JMAC LENDING, INC. 7 6.34% $18,743
    FIRST SAVINGS MORTGAGE CORPORATION 7 6.41% $12,989
    NATIONS DIRECT MORTGAGE, LLC 7 6.21% $11,708
    Nations Lending Corporation 7 6.14% $21,984
    Evolve Bank & Trust 7 7.16% $11,425
    Encompass Lending Group, LP 7 6.69% $13,622
    TOP FLITE FINANCIAL, INC. 6 6.79% $20,120
    THE MORTGAGE LINK, INC. 6 6.65% $25,005
    PREMIER MORTGAGE RESOURCES, L.L.C. 6 6.54% $21,422
    AmRes Corporation 6 6.60% $18,354
    FIRST ALLIANCE HOME MORTGAGE, LLC 6 6.23% $17,109
    SUCCESS MORTGAGE PARTNERS, INC. 6 6.81% $15,051
    HOMEAMERICAN MORTGAGE CORPORATION 6 5.88% $12,159
    Watermark Capital, Inc. 6 6.63% $11,846
    OPEN MORTGAGE, LLC 5 6.78% $22,631
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 5.93% $17,604
    Acre Mortgage and Financial Inc 5 7.13% $14,259
    MILEND, INC. 5 6.18% $17,813
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 5 5.78% $11,993
    C & F Mortgage Corporation 5 6.58% $10,844
    Cornerstone First Mortgage, Inc 5 6.30% $12,894
    First Federal Bank 5 6.53% $12,932
    SeaTrust Mortgage Company 4 5.66% $14,316
    FBC MORTGAGE, LLC 4 6.06% $14,304
    NORWICH COMMERCIAL GROUP, INC. 4 6.66% $12,651
    First National Bank of Pennsylvania 4 5.91% $16,967
    AmeriHome Mortgage Company, LLC 4 6.63% $7,884
    JPMorgan Chase Bank 4 6.88% $7,190
    Alcova Mortgage LLC 4 6.34% $12,083
    BETTER MORTGAGE CORPORATION 4 5.72% $9,346
    NETWORK CAPITAL FUNDING CORPORATION 4 6.22% $20,330
    NEW FED MORTGAGE, CORP. 3 6.00% $19,099
    First Option Mortgage, LLC 3 6.75% $15,057
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 3 5.13% $21,634
    ARC HOME LLC 3 6.75% $20,242
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.75% $17,432
    Bank of America 3 6.75% $9,401
    PIKE CREEK MORTGAGE SERVICES, INC. 3 5.71% $22,896
    OceanFirst Bank 3 6.00% $14,004
    TIDEWATER MORTGAGE SERVICES, INC. 3 6.38% $10,748
    OCEANSIDE MORTGAGE COMPANY 3 6.21% $4,123
    CAPITAL CENTER, L.L.C. 3 6.04% $8,089
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.13% $19,953
    JAMS-01, INC. 2 6.38% $12,570
    HARTFORD FUNDING, LTD. 2 6.69% $8,782
    LIBERTY HOME MORTGAGE CORPORATION 2 6.75% $17,183
    MDE Home Loans, LLC 2 6.69% $13,740
    MLD MORTGAGE INC. 2 6.44% $15,016
    MORIA DEVELOPMENT, INC. 2 5.69% $9,466
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 2 6.38% $10,187
    PANORAMA MORTGAGE GROUP, LLC 2 6.25% $13,174
    Pinnacle Bank 2 6.31% $10,504
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.63% $14,203
    Citizens Bank 2 6.38% $13,895
    Princeton Mortgage Corporation 2 6.06% $14,846
    Blue Ridge Bank 2 6.44% $13,194
    S1L, Inc. 2 6.38% $22,521
    BECKAM FUNDING CORP. 2 7.50% $21,173
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 6.31% $15,142
    STOCKTON MORTGAGE CORPORATION 2 6.25% $12,004
    Strong Home Mortgage, LLC 2 5.19% $9,855
    TD Bank 2 6.69% $10,782
    The Dart Bank 2 6.25% $16,633
    TOTAL MORTGAGE SERVICES, LLC 2 7.00% $11,632
    AMERICAN FINANCING CORPORATION 2 5.69% $9,766
    VAN DYK MORTGAGE CORPORATION 2 6.62% $12,334
    Northpointe Bank 1 6.25% $8,724
    Barrington Bank & Trust Company, N.A. 1 6.75% $12,151
    Fifth Third Bank 1 5.75% $8,083
    SIRVA MORTGAGE, INC. 1 6.88% $14,452
    NEW DAY FINANCIAL, LLC 1 7.74% $12,514
    HOMEXPRESS MORTGAGE CORP. 1 5.38% $16,702
    AXIA FINANCIAL, LLC 1 6.13% $14,355
    Leader Bank 1 6.25% $7,785
    ABSOLUTE HOME MORTGAGE CORPORATION 1 7.12% $8,839
    NBKC BANK 1 5.38% $17,900
    Armed Forces Bank 1 5.75% $11,699
    NATIONS RELIABLE LENDING, LLC 1 7.13% $10,503
    NASA Federal Credit Union 1 6.75% $21,749
    V.I.P. MORTGAGE, INC. 1 6.75% $10,102
    Texana Bank 1 5.75% $12,697
    GSF Mortgage Corporation 1 8.13% $15,448
    FIRST COLONY MORTGAGE CORPORATION 1 6.25% $13,799
    The Freedom Bank of Virginia 1 5.50% $20,285
    MORTGAGE ACCESS CORP. 1 7.25% $5,911
    MLB RESIDENTIAL LENDING, LLC 1 6.25% $12,102
    MK LENDING CORP. 1 6.88% $17,438
    TJC Mortgage, Inc. 1 5.75% $14,681
    First Western Trust Bank 1 6.13% $6,901
    Wells Fargo Bank 1 6.25% $23,808
    MEMBERS 1ST FEDERAL CREDIT UNION 1 6.50% $10,959
    Hometown Equity Mortgage, LLC 1 6.25% $10,140
    LOANFLIGHT LENDING, LLC 1 6.25% $5,885
    CityWorth Mortgage LLC 1 6.13% $17,490
    Integrity Home Mortgage Corp 1 8.25% $19,609
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.75% $20,013
    UNITED MORTGAGE CORP 1 6.13% $17,250
    Citibank 1 6.13% $4,558
    CONTOUR MORTGAGE CORPORATION 1 7.00% $11,538
    DATA MORTGAGE, INC. 1 6.25% $11,340
    Paramount Bank 1 6.25% $16,310
    ALLIED MORTGAGE GROUP, INC. 1 5.75% $13,789
    RESIDENTIAL BANCORP 1 6.75% $10,589
    Old National Bank 1 5.75% $9,272
    ROYAL UNITED MORTGAGE LLC 1 7.25% $11,797
    LEGEND LENDING CORPORATION 1 6.13% $16,787
    U.S. Bank 1 6.75% $7,657

    The top Baltimore FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 516 FHA loans originated. Their average total fees are $13,779, which is $1,576 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Baltimore FHA lenders (with over 10 loans originated) are STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED ($5,424), VILLAGE CAPITAL MORTGAGE ($8,394), Mortgage Research Center, LLC ($8,763), Lakeview Community Capital, LLC ($9,398) and TOWNE MORTGAGE COMPANY ($9,790).

    The lowest rate Baltimore FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.37%), PENTAGON FEDERAL CREDIT UNION (5.78%), LOANPAL, LLC (5.80%), PENNYMAC LOAN SERVICES, LLC (5.92%) and Flagstar Bank, FSB (6.00%).

    Baltimore FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BALTIMORE-COLUMBIA-TOWSON, MD ANNE ARUNDEL 2022 $583,050 $746,400 $902,250 $1,121,250
    BALTIMORE-COLUMBIA-TOWSON, MD BALTIMORE 2022 $583,050 $746,400 $902,250 $1,121,250
    BALTIMORE-COLUMBIA-TOWSON, MD CARROLL 2022 $583,050 $746,400 $902,250 $1,121,250
    BALTIMORE-COLUMBIA-TOWSON, MD HARFORD 2022 $583,050 $746,400 $902,250 $1,121,250
    BALTIMORE-COLUMBIA-TOWSON, MD HOWARD 2022 $583,050 $746,400 $902,250 $1,121,250
    BALTIMORE-COLUMBIA-TOWSON, MD QUEEN ANNE'S 2022 $583,050 $746,400 $902,250 $1,121,250
    BALTIMORE-COLUMBIA-TOWSON, MD BALTIMORE CITY 2022 $583,050 $746,400 $902,250 $1,121,250
    BALTIMORE-COLUMBIA-TOWSON, MD ANNE ARUNDEL 2023 $632,500 $809,700 $978,750 $1,216,350
    BALTIMORE-COLUMBIA-TOWSON, MD BALTIMORE 2023 $632,500 $809,700 $978,750 $1,216,350
    BALTIMORE-COLUMBIA-TOWSON, MD CARROLL 2023 $632,500 $809,700 $978,750 $1,216,350
    BALTIMORE-COLUMBIA-TOWSON, MD HARFORD 2023 $632,500 $809,700 $978,750 $1,216,350
    BALTIMORE-COLUMBIA-TOWSON, MD HOWARD 2023 $632,500 $809,700 $978,750 $1,216,350
    BALTIMORE-COLUMBIA-TOWSON, MD QUEEN ANNE'S 2023 $632,500 $809,700 $978,750 $1,216,350
    BALTIMORE-COLUMBIA-TOWSON, MD BALTIMORE CITY 2023 $632,500 $809,700 $978,750 $1,216,350

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).