The Best Mortgage Lenders in Aberdeen, MD
Compare verified mortgage lenders serving Aberdeen, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Aberdeen
Featured Mortgage Lenders
APG Federal Credit Union
APG Federal Credit Union
APG Federal Credit Union is a highly-rated local lender deeply rooted in the Aberdeen community, offering personalized mortgage services with competitive rates and exceptional member satisfaction. With over six decades of experience, they provide a wide range of loan options, including government-backed programs, and are known for their responsive customer service and strong community involvement. Their physical presence in Aberdeen ensures convenient access for local homeowners.
Loan Types:
First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage is a top-rated regional lender with a strong presence in Harford County, serving Aberdeen residents with expertise and reliability. They boast high customer satisfaction due to their streamlined application process, competitive rates, and extensive loan options tailored to diverse needs. With over three decades in business, they have built a reputation for transparency and dedicated support, making them a trusted choice for homebuyers in the area.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-regarded national lender with a significant local footprint in Maryland, offering efficient and technology-driven mortgage solutions for Aberdeen homebuyers. Known for their quick loan processing and excellent customer service, they provide a broad array of loan products with competitive terms. Founded in 2008, they have rapidly grown due to their commitment to community engagement and customer-centric approach, earning strong reviews for reliability and satisfaction.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Aberdeen, MD
What are the current mortgage rates like for homebuyers in Aberdeen, MD?
Mortgage rates in Aberdeen typically align with national averages but can be influenced by local market competition. Currently, rates for 30-year fixed mortgages in the area range from the mid-6% to low-7% range, though this varies by lender and borrower qualifications. It's wise to compare rates from both local Aberdeen credit unions and national lenders for the best deal.
Are there any first-time homebuyer programs specific to Aberdeen that can help with down payments?
Yes, Maryland offers several statewide programs that Aberdeen residents can access, including the Maryland Mortgage Program (MMP) which provides down payment assistance grants and competitive interest rates. Additionally, Harford County may have local initiatives, so it's beneficial to consult with a mortgage advisor familiar with Aberdeen's housing landscape to explore all available options.
How does Aberdeen's proximity to APG (Aberdeen Proving Ground) affect mortgage lending?
Aberdeen's close ties to APG can be advantageous for VA loan applicants, as many military personnel and veterans are stationed there. Lenders in the area are often well-versed in VA loans, which offer benefits like no down payment and competitive rates. This military presence also contributes to a stable local housing market, which lenders view favorably.
What should I know about property taxes in Aberdeen when applying for a mortgage?
Aberdeen's property tax rate is a combination of Harford County and city rates, currently around 1.06% of the assessed value. When calculating your mortgage payment, lenders will include these taxes in your escrow account, so it's important to budget for this additional cost. The stable tax environment in Harford County is generally viewed positively by mortgage underwriters.
Are there any special considerations for condominium mortgages in Aberdeen?
Yes, condominium purchases in Aberdeen require additional scrutiny as lenders must ensure the condo project meets FHA and conventional loan guidelines. This includes reviewing the HOA's financial health, owner-occupancy rates, and insurance coverage. Given Aberdeen's mix of older and newer condo developments, it's crucial to work with a lender experienced in local condo financing requirements.
Why Choose a Mortgage Lender in Aberdeen?
Local Market Knowledge
Lenders who understand Aberdeen's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Maryland.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Aberdeen and get competitive rates on your home loan.