Just like the other lenders said-you would have to make the home your primary residence as FHA only lends on this type of occupancy. That measn you would have to file taxes in that state and have a valid drivers license. If you are a veteran you can buy a home for 90% LTV and if it is a fannie mae home path home you can also obtain 90% LTV with the proper qualifications.

you would have to prove somehow it will be a primary residence, not just a first home. www.guidetomortgageolanning.com

The challange that you will have is as follows:YOur business is in New York, yet your house is going to be in Maryland.The underwriter isn't going to belive that you will be living in the house and making that commute to work daily. Is your business the type that you don't need to go to the office daily. How long of a commute is it by train to work daily? It would take an awful lot of convincing to get an underwriter to believe that you will be living in this house.

Having worked in one state and lived in another, I definitely buy in to your situation but it will ultimately come down to what an underwriter or lenders believes here. Working in NYC and living in MD in not that much of a stretch IMHO and I know people who do it albeit have an apartment in NYC and spend long weekends in MD. I would suggest drafting a detailed Letter of Explanation and getting it reviewed/preapproved by a lender before you start placing offers on properties. I can see where you might encounter resistance here but you should be able to do this.