The process of buying your first home is exciting, but also nerve-wracking at times. There’s a lot to learn, from important mortgage terms like points and ARMs (adjustable rate mortgages), to the many different types of mortgages.

You’re in good hands at Howard Bank. Our loan officers are ready and excited to help you on the path to homeownership.

Here are a few helpful tips for first-time homebuyers:

  1. It’s smart to get pre-qualified. During this easy process, we review your finances and help you determine the mortgage loan you can afford. Sellers often favor pre-qualified buyers over others, because they know a mortgage lender has already reviewed your finances. Learn about the pre-qualification documents we’ll need from you during the homebuying process.
  2. Some loans are ideal for first-time buyers. If you’re buying your first home, it may be difficult to afford the required down payment. The good news: we offer several programs that require little to no down payment, including conventional loans and those backed by the federal government. Talk to your loan officer about your options and learn more about our types of mortgages.
  3. Generous financial incentives are available for first-time homebuyers. Many government and community organizations encourage residents to buy homes. Homeowners often bring stability and economic benefits to local neighborhoods. As a result, you could qualify for special grants to help make buying a home affordable. Find out whether you’re eligible for first-time homebuyer grants and other financial incentives.


We can connect you to nonprofits in Maryland and beyond that offer services such as:


Your Howard Bank loan officer will take time to fully explain the mortgage loan process. Call us at 410-750-0020, email us or apply now for your first home loan.

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