The Best Mortgage Lenders in Hagerstown, MD
Compare verified mortgage lenders serving Hagerstown, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hagerstown
Featured Mortgage Lenders
Sandy Spring Bank Mortgage
Sandy Spring Bank
Sandy Spring Bank stands out as a premier regional mortgage lender in Hagerstown with deep community roots spanning over 150 years. They consistently receive exceptional ratings for personalized service, competitive rates, and local underwriting expertise. As a Maryland-based institution, they understand the local real estate market intimately and offer a comprehensive range of loan products. Their Hagerstown branch provides face-to-face service with mortgage specialists who have established long-term relationships throughout Washington County, making them particularly strong for first-time homebuyers and complex financing scenarios.
Loan Types:
First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage has built an outstanding reputation throughout Maryland with exceptional customer satisfaction ratings and three decades of mortgage expertise. While based in Frederick, they actively serve Hagerstown and Washington County with dedicated local loan officers. They're particularly noted for their efficient processing, competitive rates, and expertise with first-time homebuyer programs. The company receives consistent praise for their responsive communication and ability to close loans quickly, with many reviewers highlighting smooth experiences even with complex financial situations.
Loan Types:
Prosperity Home Mortgage
Prosperity Home Mortgage, LLC
Prosperity Home Mortgage maintains a strong presence in the Hagerstown market through their Frederick office, serving Maryland homebuyers with exceptional service and competitive loan products. They've earned high marks for their knowledgeable loan officers who provide personalized guidance throughout the mortgage process. Specializing in both purchase and refinance transactions, they're particularly strong with VA loans and first-time homebuyer programs. Their local team understands the nuances of the Hagerstown housing market and provides the convenience of local processing with the resources of an established mortgage lender.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Hagerstown, MD
What are the current mortgage rates like in Hagerstown, MD compared to the national average?
Hagerstown mortgage rates typically align closely with national averages, but local competition among lenders can sometimes create slightly better rates. Currently, rates in Washington County tend to be competitive due to the area's stable housing market and multiple lending institutions. It's wise to compare offers from local credit unions, regional banks, and national lenders for the best Hagerstown-specific rate.
Are there any first-time homebuyer programs specific to Hagerstown that I should know about?
Yes, the Maryland Mortgage Program (MMP) offers several benefits for Hagerstown homebuyers, including down payment assistance grants and competitive interest rates. Additionally, the City of Hagerstown occasionally partners with county programs to provide additional closing cost assistance for qualified buyers purchasing within city limits. These programs can be particularly valuable given Hagerstown's affordable housing market compared to other Maryland regions.
How does Hagerstown's property tax rate affect my monthly mortgage payment?
Hagerstown's property tax rate is approximately $1.05 per $100 of assessed value, which is relatively moderate for Maryland. This means for a $250,000 home, you'd pay about $2,625 annually in property taxes, which lenders will factor into your monthly escrow payment. Washington County's stable tax rate helps maintain predictable housing costs throughout your mortgage term.
What special considerations should I know about getting a mortgage for Hagerstown's historic district homes?
Purchasing in Hagerstown's Historic District may require additional considerations, as some lenders might have specific requirements for older homes. You'll want to ensure the property meets modern lending standards, and may need specialized inspections. Some local lenders are particularly experienced with historic properties and can guide you through any unique appraisal or insurance requirements.
How does Hagerstown's growing commuter market to DC/Baltimore affect mortgage lending?
Hagerstown's position as an affordable alternative for DC/Baltimore commuters has led to increased housing demand, which lenders consider when evaluating applications. Many local lenders understand dual-income households where one spouse works remotely or commutes, and they're experienced with documenting income from multiple employment locations. This commuter dynamic has also encouraged competitive mortgage products from lenders seeking to serve this growing market segment.
Nearby Cities
Explore mortgage lenders in cities near Hagerstown, MD
Why Choose a Mortgage Lender in Hagerstown?
Local Market Knowledge
Lenders who understand Hagerstown'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 Hagerstown and get competitive rates on your home loan.