Skip to content
Purchase Mortgage Loan
Get Pre-Approved

First-time home buyer programs in Cumberland, MD

Quick answer

First-time buyers in Cumberland, MD can use 3%-down conventional loans (up to the $832,750 Allegany County conforming limit), 3.5%-down FHA, or VA and USDA where eligible, plus 2 verified city, county or statewide assistance programs. On the $120,800 median home, 3% down is about $3,624 and the estimated payment is $1,075/month at 7.18%.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $47,819; value-to-income ratio 2.53. Cumberland ranks 137 by home value and 73 by population among 138 places in our MD dataset.

What does a first-time buyer loan cost on a typical Cumberland home?

ItemCumberland
Median home value (Census ACS)$120,800
Maryland median home value$397,700
Down payment (3%)$3,624
Loan amount$117,176
Estimated monthly payment (PITI + MI)$1,075
Income needed (28% / 36%)$47,000 / $36,000
Allegany County 2026 conforming limit (1 unit)$832,750
Max purchase price at the limit$858,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Maryland's 1.00% effective property tax rate (Census ACS), $1,578/yr homeowners insurance (NAIC state average) and an estimated 0.5% PMI.

What is the 2026 conforming loan limit in Cumberland?

Cumberland is in Allegany County. Conventional 3%-down loans go up to the $832,750 conforming limit (price ≈ $858,000); FHA loans go up to $541,287.

The Cumberland median home value of $120,800 is 70% below the Maryland median, and within what the county limit supports.

Which down payment assistance programs can Cumberland buyers use?

First-time buyer loans in nearby cities

HalfwayHagerstownFrederickBallenger CreekUrbanaLinganore

First-time buyer loan FAQs for Cumberland

On the $120,800 median: 3% conventional ≈ $3,624, 3.5% FHA ≈ $4,228, and 0% for eligible VA or USDA buyers. Conventional loans above $832,750 in Allegany County become jumbo loans.

At the $120,800 median value (below the Maryland median of $397,700), the estimated payment of $1,075/month at 7.18% needs about $47,000 a year under the 28% housing guideline, or $36,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 2 statewide programs are verified for this city (2 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

Get matched with First-time buyer lenders in Cumberland

Answer a few quick questions and get matched with purchase mortgage lenders in your area. Free, and it won't affect your credit score.

Get My Matches

Figures 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.