The Best Mortgage Lenders in Kensington, MD
Compare verified mortgage lenders serving Kensington, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Kensington
Featured Mortgage Lenders
Michael Nader
Congressional Bank
Congressional Bank has established itself as one of the premier mortgage lenders in Montgomery County, serving Kensington and surrounding communities with exceptional expertise. With over a decade of specialized experience in the local Maryland real estate market, they offer personalized service and competitive rates. Their team of experienced loan officers, including Michael Nader who has 25 years in the industry, provides comprehensive mortgage solutions with particular strength in jumbo loans and custom construction financing. The bank maintains an outstanding reputation for responsive communication and streamlined loan processing, making them a top choice for homebuyers in the Kensington area.
Loan Types:
John McAllister
First Home Mortgage
First Home Mortgage has been serving Maryland homebuyers for over 30 years with exceptional customer satisfaction ratings and deep local market expertise. As one of the largest privately-owned mortgage lenders in the Mid-Atlantic region, they combine the resources of a major lender with the personalized service of a local broker. John McAllister and his team specialize in guiding Kensington clients through the entire mortgage process with particular expertise in first-time homebuyer programs and government-backed loans. Their commitment to competitive rates, transparent communication, and local underwriting authority has earned them numerous industry awards and outstanding customer reviews.
Loan Types:
Local DMV Team
New American Funding
New American Funding brings national lending power with strong local presence through their Rockville office that actively serves the Kensington community. With nearly 20 years of experience, they offer a comprehensive range of mortgage products and are particularly recognized for their innovative technology platform that streamlines the application process. Their local team understands the unique dynamics of Montgomery County's real estate market and provides personalized service with competitive rate options. They have received numerous industry accolades for customer satisfaction and are especially strong in serving diverse communities with their bilingual services and specialized programs for various borrower profiles.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Kensington, MD
What are the current mortgage rates like in Kensington, MD compared to the national average?
Mortgage rates in Kensington are often very competitive but can be slightly higher than the national average due to the high cost of living and strong demand in the Montgomery County housing market. It's crucial to shop around with both local and national lenders, as even a small difference in rate can have a significant financial impact on a high-value Kensington home.
Are there any special first-time homebuyer programs available specifically for Kensington?
Yes, first-time homebuyers in Kensington should explore the Maryland Mortgage Program (MMP), which offers competitive interest rates and down payment assistance. As part of Montgomery County, Kensington buyers may also be eligible for the county's "Homeownership for Individuals with Moderate Income" program, which can provide additional financial support for qualified applicants.
How does Kensington's high property value affect the type of mortgage I might need?
With the median home price in Kensington being significantly above the national average, many buyers will need a jumbo loan, which exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. Jumbo loans in Kensington typically require stronger credit scores, larger down payments (often 10-20%), and more extensive financial documentation than conventional conforming loans.
What should I know about property taxes and insurance when getting a mortgage in Kensington?
Kensington homeowners pay Montgomery County property taxes, which are among the highest in Maryland, and this will be factored into your monthly mortgage payment via an escrow account. It's also important to note that due to the age and value of many homes in Kensington, you may need specialized insurance riders or a higher premium to cover features like updated electrical/plumbing or historic details.
How competitive is the mortgage pre-approval process in Kensington's real estate market?
In Kensington's competitive housing market, a strong pre-approval from a reputable, local lender is essential. Sellers often favor offers backed by lenders who are familiar with the specific nuances of Montgomery County transactions. Having a fully underwritten pre-approval, rather than a simple pre-qualification, can significantly strengthen your offer when competing against multiple buyers.
Nearby Cities
Explore mortgage lenders in cities near Kensington, MD
Why Choose a Mortgage Lender in Kensington?
Local Market Knowledge
Lenders who understand Kensington'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 Kensington and get competitive rates on your home loan.