Is there really such a thing as a 0 down mortgage in Maryland? YES USDA currently has a guaranteed mortgage loan that has no down payment requirement. You can get your earnest money deposit back so you can even get money at settlement.
In order to get a mortgage for 0 down, you will need to have the seller pay your closing costs. This is 
very typical for a home purchase in Maryland. The buyer has their lender work up an estimate for needed closing costs and when the offer is made, there is a request for closing cost help in the offer. Currently USDA allows for the seller to pay up to 6% of the closing costs. For a typical transaction in Maryland, this is more than sufficient.
Along with getting the mortgage loan for 0 down, you can also finance 100% of the appraised value so this is truly a 0 down mortgage! Please visit USDA Loan Home for the USDA Guidelines and some of the other benefits of this loan.
The way I see it, FHA is getting tougher to qualify for and and more expensive with higher monthly mortgage insurance. Over time the guidelines have gotten much tighter. This pushes many buyers in Maryland outside of their ability to qualify. The mortgage options for many buyers in Maryland are becoming less and less every year and we are about down to chocolate vanilla and strawberry. 
That is why I believe that USDA loans are so important to sustaining our housing market in Maryland. The median home value in Maryland is 146k and the median family income is 61k. The maximum purchase price for a home with a 0 down mortgage (USDA Loan) is 417k and the highest income allowed for certain areas in Maryland is $92,600 for a 1-4 person household.
Many qualified buyers are not aware that there are options for no money down mortgage loans and are losing money renting. Just as an example if you make $50k and have a 620 credit score you could buy a $200,000 house and your principle and interest payment would be around $1,154 with a 4.5% interest rate!
Read more at http://usdaloanhome.com
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