Self-Employed loan snapshot for Maryland
| Item | Estimate |
|---|---|
| Minimum down payment | 3%–10% |
| Minimum credit score | 620–660 |
| Typical MD home value | $397,700 |
| 3.5% down on typical home | $13,920 |
| 20% down on typical home | $79,540 |
| Avg. effective property tax | 1.00%/yr (~$332/mo) |
| Income for typical home (31% rule) | $126,000 |
Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.
Which Maryland programs pair with Self-Employed loans?
- 1st Time Advantage: Fixed-rate loans for first-time buyers with down payment assistance options.
- Partner Match: Matching assistance funds from participating employers, counties and builders.
Details and current limits: Maryland Mortgage Program (DHCD).
What documents do self-employed borrowers need?
- Two years of personal federal tax returns (all schedules).
- Two years of business returns (1120S, 1065 or 1120) if applicable.
- Year-to-date profit and loss statement.
- Business license or CPA letter verifying the business.
- Recent personal and business bank statements.
Full-doc vs bank-statement loans
| Full documentation | Bank-statement (non-QM) | |
|---|---|---|
| Income source | Tax returns | 12–24 months of deposits |
| Down payment | 3%–5%+ | Usually 10%+ |
| Rate | Market | Typically higher |
Self-Employed loans in Maryland cities
BaltimoreColumbiaGermantownWaldorfSilver SpringFrederickEllicott CityGlen BurnieGaithersburgBethesdaRockvilleDundalkSevernBowieBel Air SouthTowsonAspen HillWheatonNorth BethesdaPotomacOdentonHagerstownCatonsvilleAnnapolisEssexWoodlawnSeverna ParkClintonOlneyRandallstownOwings MillsChillumCollege ParkPikesvilleMontgomery VillageSalisburyPasadenaMilford MillMiddle RiverBel Air NorthEldersburgParkvilleCroftonLaurelClarksburgPerry HallCarneyReisterstownSouth LaurelLochearnIlchesterElkridgeFairlandBallenger CreekFort WashingtonNorth LaurelEdgewoodSuitlandGreenbeltLandoverNorth PotomacArnoldCockeysvilleCamp SpringsLangley ParkArbutusHyattsvilleRosedaleWestminsterBeltsvilleEast RiverdaleRedlandCumberlandMaryland CitySeabrookOxon HillLake ShoreParoleCalvertonGlassmanorTakoma ParkAdelphiEastonFerndaleDamascusAberdeenCloverlyGlenmontWhite OakElktonBrooklyn ParkHillcrest HeightsSummerfieldMays ChapelRossvilleLake ArborGlenn DaleHavre de GraceBensvilleKemp MillColesvilleUrbanaKetteringFlower HillNew CarrolltonLexington ParkBrock HallJoppatowneAccokeekCaliforniaGreen ValleyCambridgeLinganoreRiviera BeachAnnapolis NeckOverleaRosaryvilleOcean PinesHoneygoWestphaliaLanhamLargoFriendlyMitchellvilleTravilahBrandywineHalfwayTimoniumForestvilleBel AirLinthicumWhite MarshFort MeadeLa PlataGarrisonScaggsvilleMarltonBurtonsville
Frequently asked questions
Yes. Self-Employed loans are available statewide in Maryland through approved lenders, subject to county loan limits where they apply.
Often yes. Maryland Mortgage Program (DHCD) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.
Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve Maryland.
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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.