Mortgage Products to Meet Every Need

If this is your first home purchase or your 100th, Direct Mortgage Loans has a loan product to fit every need and stage of your life. We offer loan products that:

  • Allow you to buy with little to no down payment
  • Offer competitive rates and terms
  • Are less-income restrictive
  • Allow you to refinance to a better interest rate
  • Cover the cost of necessary home repairs
  • Buy land and build a home
  • Are military friendly
  • Are solution-focused

Direct Mortgage Loans offers three types of government backed loans: FHA, VA, and USDA, in addition to Conventional and Renovation/Construction loans. Each loan product has specific advantages and disadvantages that should be considered when selecting your loan product. Our recommendations are that:

  • You review the loan options available to you


  • You schedule a phone consultation 410.878.9744 with our team to determine the best combination of loan type, purchase price, and down payment to fit your needs.



Loan ProductMinimum Down Payment RequiredCredit Score
Maximum Amount a Seller Can Contribute Towards Closing Costs
Conventional5%620+Yes, if down payment
is < 20% of the
home value
-With > 10% down payment (DP) = 3%

-With 10%-24.9% DP = 6%

-With 25% DP = 9%
Conventional 97%**3%620+Yes, since down payment is < 20% of the home value3%
Yes, since down payment is
< 20% of the home value
VA0%500+NoneNo Maximum Set
USDA0%620+NoneNo Maximum Set

**Named for the percentage of the home value that the loan will cover**

Each loan product has a set of guidelines that must be followed for the loan to fund. Our loan officers are well-versed on the underwriting guidelines (fancy for “rules to follow”). They utilize their mortgage knowledge, understanding of your credit report, and your monthly budget to determine the best mortgage solution for your needs. Ready to start your pre-approval conversation? Contact our team for a personalized mortgage consultation that will have you saying, “how can I start the process?”

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Variety of Mortgage Solutions

Typically viewed as the 20% down mortgage solution, conventional loans come in all shapes and sizes. Most conventional financing is done with 3-5% down! Direct Mortgage Loans offers a variety of conventional loan products that provide advantageous benefits for our borrowers.


  • Range of down payment options
  • Eliminate mortgage insurance with 20% down payment
  • Less restrictive property guidelines

Interested in a conventional loan but low on down payment funds?

  • Our Fannie Mae HomeReady option may work best for you!

HomeReady is an affordable housing program that offers eligible homebuyers with a stable job and good credit history, the opportunity to purchase a home with a 3% down payment.


  • Most competitive pricing for credit scores >=680
  • Reduced mortgage insurance premium
  • Flexible use of gift funds and grants for down payment


Turning Dreams into Reality

Do any of the following apply to you?

  • Credit score 580 – 700 (500 with 10% down payment)
  • Low funds for down payment
  • Low funds for closing costs

An FHA loan may be the solution to make your homeownership dreams reality! Governed by the Housing of Urban Development (HUD), an FHA loan offers flexible guidelines for borrowers with limited down payment funds.


  • 3.5% Down Payment
  • Flexible use of gift funds and grants for down payment
  • Allows sellers to contribute up to 6% of the home’s purchase price for pre-paid and closing costs

Interested in learning more? Contact your loan officer to discuss this program and your eligibility!


Home of the Free and the Brave

As a qualified veteran, active duty member, or eligible spouse, you have earned VA housing benefits that include:

  • No down payment
  • No monthly mortgage insurance

The U.S. Department of Veterans Affairs has set eligibility requirements for a VA mortgage. If you’re a military veteran or active service member looking to buy or refinance, learn more about your VA benefits by speaking with one of our loan officers today!


Country Living

Have you dreamed of rural living? This government backed loan product offers:

  • No down payment
  • No mortgage insurance
  • No maximum on the amount the seller can contribute

Eligibility for this loan product is determined by income and property location. Unsure of rural boundaries? Contact our team to discuss your eligibility today!


Turn Your Home into Your Dream Home

  • Have you dreamed of rural living? This government backed loan product offers:Have you found a home that would be great but needs repairs? Are you interested in making improvements to a home you already own? A renovation loan can be used to purchase and improve the home with one loan, one process and one closing. Financing is based on the value of the property after the improvements are complete.
  • Building your custom home from the ground up is a rewarding experience. With a construction loan, you can purchase land, interview builders, and build your custom dream home in one transaction with 0-10% down. Already own your lot? Speak to our team about how we can refinance your lot loan with your construction-to-perm loan!

Ready to build or renovate your house into your dream home? Contact our team today!

A Guide to Buying Your First Home

Major life changes don’t come with a roadmap. There’s no warning of hazards ahead, travel tips, or final destination notes. As you embark upon unknown territory, know you will not travel this road alone. Our seasoned “guides” will share their expertise and walk this new road by your side. The quest for homeownership can be as sweet as a Sunday drive through the countryside. You’re ready to buy, so what comes next? Gather all your resource materials, including tax returns, W2s and paycheck stubs, and prepare for a very rewarding journey.

Our Process