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FHA 203(b) Home Loan

FHA 203(b) - A Smart Path to Homeownership in Maryland

The FHA 203(b) loan is the most common FHA-insured mortgage program. It’s designed for buyers looking to purchase a primary residence with a low down payment and flexible credit requirements. In most cases, buyers in Maryland can qualify with a credit score as low as 580 and put down as little as 3.5%.

This makes it an excellent option for first-time buyers or those with limited savings.

Key Benefits of the 203(b) Loan

Low down payment (3.5% minimum)Lower credit score requirementsAvailable for single-family homes, townhouses, and FHA-approved condosFixed-rate and adjustable-rate optionsBacked by the Federal Housing Administration.

Property Requirements

Homes purchased with a 203(b) loan must:

Be used as a primary residence

Meet FHA minimum property standards

Pass an FHA appraisal.

The property must be located in Maryland or surrounding eligible areas.

It might be easier to get pre-approved for a mortgage than you ever imagined. We believe in making it as easy as possible for everyone to purchase their own home. Click here now to get started, it only takes a few minutes online.

Is the FHA 203(b) Loan Right for You?

You may be a great fit if:

You’re a first-time or repeat buyer with limited down payment savingsYou have a credit score of 580 or higherYou're buying a home to live in, not rent outYou're looking to buy a move-in ready property

If the home you want needs repairs, you might be better served by an FHA 203(k) Renovation Loan.

Next Steps

To explore the full range of FHA loan options—including renovation and refinance programs—visit our FHA Loan Overview page. It breaks down the different types of FHA loans available and helps you choose the one that fits your goals in Maryland.