The Best Mortgage Lenders in Hollywood, MD
Compare verified mortgage lenders serving Hollywood, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hollywood
Featured Mortgage Lenders
Bay Credit Union
Bay Credit Union
As Southern Maryland's premier community financial institution with over 80 years of service, Bay Credit Union maintains exceptional customer satisfaction ratings and deep local market expertise. They offer highly competitive rates for Hollywood area residents with personalized service through their Lexington Park branch just minutes away. Their mortgage team specializes in first-time homebuyer programs and offers comprehensive guidance through the entire home financing process with local decision-making authority.
Loan Types:
First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage has been serving Southern Maryland homeowners since 1994 with outstanding customer service ratings and deep local market knowledge. Their California, MD location provides convenient access for Hollywood residents seeking competitive mortgage solutions. They excel at navigating the unique aspects of Southern Maryland real estate transactions and offer a wide range of loan products with local underwriting and processing for faster closings.
Loan Types:
Presidential Bank
Presidential Bank, FSB
Presidential Bank has maintained a strong presence in Southern Maryland for over three decades with their California branch conveniently serving the Hollywood area. They combine the stability of an established community bank with competitive mortgage products and personalized service. Their local loan officers have extensive experience with St. Mary's County real estate markets and offer flexible underwriting with quick turnaround times, making them a top choice for Hollywood homebuyers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Hollywood, MD
What are the current mortgage rates like in Hollywood, MD compared to the national average?
Mortgage rates in Hollywood, MD typically align closely with national averages but can be slightly influenced by local market competition and property types. Given the area's mix of waterfront properties and more rural homes, it's wise to compare rates from local credit unions and regional lenders who understand these nuances. As of late 2023, rates in Southern Maryland were generally competitive for conventional loans.
Are there any special loan programs for first-time homebuyers in Hollywood, MD?
Yes, Maryland offers several programs through the Maryland Department of Housing and Community Development (DHCD) that are accessible to Hollywood homebuyers. The Maryland Mortgage Program (MMP) provides competitive interest rates and down payment assistance, which is particularly valuable in St. Mary's County's housing market. Additionally, local lenders often have specific programs for first-time buyers purchasing in Southern Maryland communities.
How does Hollywood's proximity to military bases affect mortgage options?
Hollywood's location near Patuxent River Naval Air Station makes VA loans an extremely popular and advantageous option. Many local lenders have specialized experience with VA loans and understand the unique needs of military personnel and veterans. This expertise often results in smoother processing and better terms for those eligible for VA financing in the Hollywood area.
What should I know about getting a mortgage for a waterfront property in Hollywood?
Waterfront mortgages in Hollywood often require additional considerations like higher down payments (sometimes 20-25%) and specialized flood insurance, which can affect your debt-to-income ratio. Lenders may order more thorough property inspections and appraisals to assess erosion risks and seawall conditions. It's crucial to work with lenders experienced in Southern Maryland's coastal properties to navigate these requirements.
How do Hollywood's rural characteristics impact the mortgage process?
Hollywood's semi-rural nature means some properties may use well and septic systems rather than public utilities, which can affect loan approval. USDA loans remain an option for eligible properties in designated rural areas of St. Mary's County. Lenders will typically require additional inspections and certifications for these systems, so budgeting for these extra costs during the mortgage process is important.
Nearby Cities
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Why Choose a Mortgage Lender in Hollywood?
Local Market Knowledge
Lenders who understand Hollywood'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 Hollywood and get competitive rates on your home loan.