How does Overlea compare with Maryland?
The city's median is below the statewide median by $148,200. Home values are relatively low compared with local household income, but individual debts and property expenses still matter. The median is 30.0% of the conforming limit. A median-valued purchase fits the FHA base-loan limit at 3.5% down.
How much down payment and PMI would a typical Overlea home need?
| Down payment | Cash down | Estimated PMI / month | Estimated PITI + PMI | Income at 28% / 36% |
|---|---|---|---|---|
| 3% | $7,485 | $101 | $2,080 | $90,000 / $70,000 |
| 5% | $12,475 | $99 | $2,044 | $88,000 / $69,000 |
| 10% | $24,950 | $94 | $1,955 | $84,000 / $66,000 |
| 20% | $49,900 | $0 | $1,692 | $73,000 / $57,000 |
3%-down conventional products have borrower/program restrictions. PMI uses a fixed 0.5% annual loan-balance estimate at less than 20% down; it is not a credit-specific quote or an assumed discount by down payment. Payments include state-average tax and insurance and assume zero other debts.
Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.
Is there down payment assistance in Overlea?
- MMP 1st Time Advantage 6000 — $6,000 loan for down payment and closing costs; deferred; state-level. Maryland Department of Housing and Community Development · Verified October 23, 2026
- MMP HomeStart — 0% interest, 30-year deferred loan equal to 6% of the MMP first-lien loan amount; deferred; state-level. Maryland Department of Housing and Community Development · Verified October 23, 2026
Conventional loans in the nearest eligible cities
Home loan options in Overlea
Frequently asked questions
Sources
- U.S. Census Bureau — ACS 2019–2023 5-Year Estimates
- FHFA — 2026 Conforming Loan Limit Values
- HUD — 2026 FHA Forward Mortgage Limits (county file)
- Fannie Mae Selling Guide
- NAIC — Homeowners Insurance Report, Data for 2023 (HO-3 average premium)
- Freddie Mac PMMS
- MMP 1st Time Advantage 6000
- MMP HomeStart
Data last updated November 5, 2026.
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Get My MatchesFigures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.