The Best Mortgage Lenders in Baltimore, MD
Compare verified mortgage lenders serving Baltimore, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Baltimore
Featured Mortgage Lenders
Fulton Mortgage Company
Fulton Bank, N.A.
Fulton Mortgage Company stands out as one of Baltimore's most trusted local mortgage lenders, consistently earning exceptional ratings for their personalized service and competitive rates. As part of Fulton Bank's established Maryland presence, they offer deep local market expertise with the stability of a regional financial institution. Their mortgage specialists are praised for guiding borrowers through the entire process with transparency and efficiency, particularly noted for first-time homebuyer programs and construction loans. With strong community ties and extensive experience in Baltimore's diverse neighborhoods, they provide tailored solutions that reflect understanding of local real estate dynamics.
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Sandy Spring Mortgage
Sandy Spring Bank
Sandy Spring Mortgage has built an outstanding reputation throughout the Baltimore metropolitan area for their exceptional customer service and competitive loan products. As a Maryland-based community bank with deep roots in the region, they combine local decision-making with comprehensive mortgage solutions. Their team receives consistent praise for responsiveness, attention to detail, and ability to close loans efficiently. Specializing in both purchase and refinance transactions, they excel at navigating complex scenarios while maintaining clear communication throughout the process. Their strong relationships with local real estate professionals further enhance their service delivery.
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New American Funding - Baltimore
New American Funding
New American Funding's Baltimore office has established itself as a top-performing mortgage lender in the area, particularly noted for their innovative loan programs and commitment to diverse borrower needs. They excel in serving both conventional and government-backed loans, with special expertise in FHA and VA lending. The local team is recognized for their extensive market knowledge and ability to secure competitive rates while providing exceptional guidance through the mortgage process. Their bilingual services and focus on community outreach make them particularly valuable in Baltimore's diverse neighborhoods. Customer reviews consistently highlight their professionalism, transparency, and successful handling of complex financial situations.
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Frequently Asked Questions
Common questions about mortgage lending in Baltimore, MD
What are the current mortgage rates like in Baltimore, MD?
Mortgage rates in Baltimore are generally competitive with national averages but can vary based on the lender and your financial profile. As of recent trends, Baltimore homebuyers can expect rates slightly below the national average due to Maryland's strong lending market. It's wise to compare offers from both local credit unions and national banks for the best deal.
Are there any special first-time homebuyer programs available in Baltimore?
Yes, Baltimore offers several first-time homebuyer programs, including the Maryland Mortgage Program (MMP), which provides competitive interest rates and down payment assistance. The City of Baltimore also has its own Employee Homeownership Program and Partner Match Grant, which can provide additional funds for closing costs and down payments for eligible buyers.
How does Baltimore's property tax rate affect my mortgage payments?
Baltimore has a higher property tax rate compared to surrounding counties, currently at 2.248% for owner-occupied homes. This means your monthly mortgage escrow payment will be higher to cover these taxes, so factor this into your budget when determining how much house you can afford in the city versus the suburbs.
What should I know about buying a home in Baltimore's historic districts?
If you're purchasing in one of Baltimore's many historic districts (like Fells Point or Federal Hill), be aware that there may be restrictions on exterior modifications that could affect your property's value and insurance. Some lenders may require additional inspections, and you might need specialized insurance coverage for historic properties, which can impact your overall mortgage costs.
Are there any Baltimore-specific loan programs for home repairs or renovations?
Yes, the Baltimore Housing Department offers the Upton Loan Program and other rehabilitation loans for homeowners making improvements in targeted neighborhoods. Additionally, many Baltimore lenders offer FHA 203(k) renovation loans specifically useful for the city's older housing stock, allowing you to finance both purchase and repairs in a single mortgage.
Nearby Cities
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Why Choose a Mortgage Lender in Baltimore?
Local Market Knowledge
Lenders who understand Baltimore'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 Baltimore and get competitive rates on your home loan.