The Best Mortgage Lenders in Compton, MD
Compare verified mortgage lenders serving Compton, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Compton
Featured Mortgage Lenders
Mortgage Specialist Team
Tower Federal Credit Union
Tower Federal Credit Union stands out as one of Southern Maryland's most trusted mortgage lenders with deep roots in the community. While headquartered in Millersville, they have multiple branches serving the Compton area and surrounding regions. Their mortgage team receives exceptional ratings for personalized service, competitive rates, and extensive experience with all loan types. Members consistently praise their streamlined application process, knowledgeable loan officers, and commitment to finding the right mortgage solution for each borrower's unique situation.
Loan Types:
Mortgage Lending Department
Sandy Spring Bank
Sandy Spring Bank has been serving Maryland communities for over 150 years and maintains a strong presence throughout Southern Maryland, including Compton. Their mortgage division receives high marks for local decision-making, competitive pricing, and exceptional customer service. The bank specializes in both purchase and refinance mortgages with particular expertise in construction loans and jumbo financing. Customers frequently highlight the bank's responsiveness, transparent communication, and the experience of their loan officers who understand the local real estate market dynamics.
Loan Types:
Mortgage Advisor Team
First Home Mortgage
First Home Mortgage is a Maryland-based mortgage lender with extensive experience serving homeowners throughout the state, including the Compton area. They've built a strong reputation for their comprehensive loan programs, competitive rates, and exceptional customer service. Specializing in first-time homebuyer programs and government-backed loans, they receive consistent praise for their educational approach and guidance through the mortgage process. Their local processing and underwriting teams ensure efficient closings while maintaining personalized service throughout the loan journey.
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Frequently Asked Questions
Common questions about mortgage lending in Compton, MD
What are the current mortgage rates like for homes in Compton, MD?
Mortgage rates in Compton, MD, are generally competitive with national averages but can be influenced by local market conditions and property types common in Southern Maryland. For the most accurate and up-to-date rates, it's best to consult with a local lender who understands the specific dynamics of the Compton and Calvert County area. Rates can vary based on loan type, credit score, and down payment amount.
Are there any first-time homebuyer programs available specifically in Compton, MD?
Yes, first-time homebuyers in Compton can explore programs like the Maryland Mortgage Program (MMP), which offers competitive interest rates and down payment assistance. Additionally, Calvert County may have local initiatives or grants aimed at helping buyers with closing costs. Working with a lender familiar with these state and local resources can help you access the best options for your situation.
How does the rural location of Compton, MD, affect the mortgage process?
Compton's rural setting in Calvert County can influence the mortgage process, particularly if the property requires a well and septic system, which may need additional inspections and approvals. Lenders might also consider the property's accessibility and proximity to services, which could affect appraisal values. It's important to work with a lender experienced in rural properties to navigate these specifics smoothly.
What types of properties are common in Compton, and how does that impact loan options?
Compton features a mix of single-family homes, older properties, and some newer constructions, often on larger lots. This variety means loan options like FHA, VA, and conventional loans are all applicable, but certain older homes might require repairs that could affect FHA or VA loan eligibility. A local lender can help assess which loan type best suits the property you're considering.
Are there any local property tax considerations in Compton, MD, that I should know about before getting a mortgage?
Yes, Calvert County, where Compton is located, has specific property tax rates and assessment schedules that can impact your overall mortgage payment. Maryland also offers homestead tax credits for primary residences, which can help limit annual tax increases. It's wise to review the county's tax rates and any applicable credits with your lender to accurately estimate your monthly housing costs.
Why Choose a Mortgage Lender in Compton?
Local Market Knowledge
Lenders who understand Compton'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 Compton and get competitive rates on your home loan.