Home Loan Type
Postal Code
Property Value
Mortgage Balance
Credit Rating
Full Name
Preferred Phone Number
By clicking "Submit" I am consenting to have my information shared with one to three lenders or brokers and to be contacted by each of them by telephone or email, even if I have previously listed myself on any corporate, state or federal do not call list.

Columbia Home Purchase Loans
Low FHA Rates for Maryland New Home Financing

Columbia Home Buying with FHA Loans

Maryland home buyers take advantage new opportunities in Columbia with low rate FHA home purchase loans securing fixed payments..Columbia is a planned community in Howard County, Maryland. It is a suburb of Baltimore, and to a lesser degree, Washington D.C. Columbia is the most populous census designated place in Maryland, after Baltimore. Columbia is located midway between Baltimore and Washington, D.C. in Howard County. Downtown Baltimore is 20-30 minutes away, while Washington is a 30-40 minute drive. In 2008, Money magazine ranked Columbia (together with Ellicott City) #8 out of the 100 "Best Places to Live" in the United States. (Source: Wikipedia)


The FHA temporarily raised the loan limit to $560,000 for a single family home in Columbia, so now is the best time for FHA home buying in Columbia. You get low, fixed interest rates with FHA. Plus, you can do a FHA streamline refinance if interest rates drop. You canít get Columbia home financing on 97 percent loan to value under conventional financing, and the lending standards for FHA Columbia home purchase loans are much more lenient. A FHA Maryland home purchase loan only requires a 3% down payment and a 580 FICO credit score. Conventional loans require at least a 660 score.

Columbia Home Buying Incentives

The state of Maryland Department of Housing & Community Development has several homebuyer incentive programs including two CDA More House 4 Less Mortgage Programs: low-interest mortgage loans and the Downpayment and Settlement Expense Loan Program (DSELP), state-owned homes for sale, the Homeownership for Individuals with Disabilities program and the Ground Rent Redemption Program.

Buying a Foreclosure Home in Columbia

Banks and others holding foreclosed property have concluded "we've got to move things" and are finally willing to slash prices, says Thomas Lawler, a housing economist in Leesburg, VA. The longer properties sit unsold, the longer the lender must keep paying monthly expenses, including insurance and property taxes. This is why you can get a good deal on a Columbia foreclosure. "If you can't make 20%, 25% off these deals, you're wasting your time," said Marc S. English (a foreclosure investor from Texas), who occasionally buys and sells homes to supplement his regular work with a commercial builder.

Other Popular Maryland Cities for FHA Financing

Baltimore Home Purchase Loans
Towson Home Loan Rates
Bowie Home Financing Rates
Essex Home Purchase Loans
Hagerstown Home Loan Rates

Annapolis Home Financing
Columbia Home Purchase Loan
Frederick Home Loans
Gaithersburg Home Financing
Glen Burnie Home Purchase Loans
Reisterstown Home Financing Rates



15-Year FHA Rates | 30-Year FHA Rates | 5-Year ARM Rates
All FHA mortgage products are provided by FHA Home Loan Services, which may arrange loans with third party providers. FHA Home Loan Services is national mortgage lender. Not everyone will qualify for a government insured mortgage. FHA Home Loan Services cannot guarantee all loans will be made or whether all loan applications will be approved by the investing bank.
This is not a commitment for a FHA house loan or an advertisement for credit as defined by paragraph 226.24 of regulation Z.
©2008 FHA Home Loan Services - All Rights Reserved - Disclaimers