In order to assist home-buyers, the Federal Housing Administration (FHA) offers mortgage loans that require lower down payments than traditional Conventional loans.

  • Down Payment: Yes (usually less than amount required by conventional loans).
  • Appraisal Type: Primary Residence, Investment
  • Loan Purpose: Purchase or Refinance

The biggest advantage of an FHA loan is the lesser down payment required. For an FHA loan, a minimum down payment of 3.5% of the loan amount is required. This could be significantly lower than a Conventional loan.

The biggest disadvantage of FHA financing is the mortgage insurance premium (MIP). For most FHA loans, there is an upfront payment of 1.75% of the loan amount payable at closing, plus an annual mortgage insurance premium that is paid along with your monthly mortgage. You can visit for up-to-date fee information.


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For more information on FHA Loans:

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Call us at 410-558-4200 or toll-free at 1-888-561-BANK (2265).


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1st Mariner Bank - NMLS: 408251
3301 Boston Street
Baltimore, Maryland 21224
Phone: (888) 561-2265


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Certain restrictions apply. Loan approval subject to borrower qualification, completion of application and verification of homeownership. Rates and programs are subject to change without notice. Satisfaction of credit qualifications and occupancy. Loan pricing can only be locked through a home mortgage consultant. This collateral piece is provided as a convenience, does not serve as a substitute for a borrower's actual loan documents, and is not a commitment to lend. Borrowers should become fully informed by reviewing all of the loan and disclosure documentation provided. While we believe these products could be beneficial to you, there may be other mortgage products we can offer you for which you may qualify. We would also be happy to discuss those options with you. For more helpful information about residential mortgage products, please visit