The Best Mortgage Lenders in Chester, MD
Compare verified mortgage lenders serving Chester, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chester
Featured Mortgage Lenders
Queenstown Bank Mortgage Department
Queenstown Bank of Maryland
As a community bank deeply rooted in Maryland's Eastern Shore for over a century, Queenstown Bank offers personalized mortgage services with local decision-making. Their Chester location provides convenient access for Kent Island and surrounding communities. They're particularly known for construction loans and waterfront property financing, with loan officers who understand the unique aspects of Chesapeake Bay area real estate. Customers consistently praise their responsive service and competitive rates for both purchase and refinance transactions.
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Shorewide Mortgage
Shorewide Mortgage Corporation
Serving Maryland's Eastern Shore communities including Chester since 1996, Shorewide Mortgage has built an outstanding reputation for exceptional customer service and expertise in waterfront and rural property financing. Their team specializes in navigating the unique challenges of Chesapeake Bay area lending, including flood zones and environmental considerations. They offer competitive rates and have particular expertise with VA loans and first-time homebuyer programs, with numerous reviews highlighting their smooth closing processes and personalized attention.
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Fulton Bank Mortgage Division
Fulton Bank, N.A.
With a physical branch location in Chester and deep roots throughout Maryland, Fulton Bank provides comprehensive mortgage services backed by over 140 years of banking experience. Their local loan officers have extensive knowledge of Queen Anne's County real estate markets and offer both in-person and digital mortgage experiences. They're particularly strong in construction lending and jumbo loans for higher-value properties common in the Chester area. Customers consistently note their professionalism, local market expertise, and ability to handle complex financing scenarios efficiently.
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Frequently Asked Questions
Common questions about mortgage lending in Chester, MD
What are the current mortgage rates like for homes in Chester, MD?
Mortgage rates in Chester are generally competitive with national averages but can be influenced by local market conditions. Given Chester's proximity to the Chesapeake Bay and Annapolis, you may find slightly different rate offerings from local lenders familiar with waterfront properties and seasonal market fluctuations. It's wise to compare rates from both local Eastern Shore credit unions and larger regional banks.
Are there any special loan programs for first-time homebuyers in Chester?
Yes, Maryland offers several programs that Chester homebuyers can utilize, including the Maryland Mortgage Program (MMP), which provides competitive interest rates and down payment assistance. Additionally, some local lenders on the Eastern Shore may offer specific first-time buyer grants or loans tailored to the moderate-income levels typical in Queen Anne's County.
How does Chester's location near the Chesapeake Bay affect mortgage lending?
Waterfront or near-water properties in Chester may require additional insurance, such as flood insurance, which lenders will factor into your debt-to-income ratio. Some lenders might have specific appraisal requirements for homes in coastal areas. It's important to work with a mortgage professional experienced with Chesapeake Bay region properties to navigate these considerations.
What is the typical down payment needed for a home in Chester?
While conventional loans often require 5-20% down, many Chester homebuyers utilize FHA loans with 3.5% down or VA loans with 0% down if eligible. Given Chester's mix of modest single-family homes and higher-end waterfront properties, down payment requirements can vary significantly based on the loan type and property location.
Are there any local property tax considerations I should know about when getting a mortgage in Chester?
Chester homeowners benefit from Queen Anne's County's relatively moderate property tax rates compared to larger Maryland counties. However, properties with water access or in specific communities may have additional fees or tax considerations. Your lender should help you understand how these local taxes will impact your overall monthly mortgage payment.
Nearby Cities
Explore mortgage lenders in cities near Chester, MD
Why Choose a Mortgage Lender in Chester?
Local Market Knowledge
Lenders who understand Chester'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 Chester and get competitive rates on your home loan.