Buying Your First Home in Maryland — Step‑by‑Step
A clear path from curiosity to closing day.
Who Counts as a First‑Time Buyer?
Most programs define it as no home ownership in the last three years. Exceptions exist for certain hardship cases and displaced homemakers.
Loan Options
- Conventional 3% down
- FHA low down with flexibility
- VA for eligible service members
- USDA for eligible rural areas
Assistance & Grants
State and county programs can help with down payment and closing costs. Pair with lender credits where allowed.
Steps in the Process
- Budget and pre‑approval
- Tour, offer, inspection, appraisal
- Final underwriting, clear to close, keys
Avoid These Mistakes
- Opening new debt before closing
- Skipping inspection contingencies lightly
- Overlooking total monthly cost (PITI + HOA)
Keep Learning
Check rates drivers in What Affects Mortgage Rates? and browse areas via Communities.
FAQ
Do I still qualify if I owned a home more than 3 years ago?
In many cases, yes—you may be considered a first‑time buyer again for certain programs.
What’s the lowest down payment?
Conventional can be as low as 3% down; FHA 3.5%; VA/USDA may allow 0% for eligible buyers.
How long does the process take?
Typically 30–45 days from contract to closing, depending on appraisal and underwriting timelines.
What closing costs should I expect?
Budget 2–4% of purchase price for lender, title, and government fees—some assistance may offset these.
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