The Best Mortgage Lenders in Lanham, MD
Compare verified mortgage lenders serving Lanham, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lanham
Featured Mortgage Lenders
Atlantic Coast Mortgage
Atlantic Coast Mortgage, LLC
Atlantic Coast Mortgage is a top-rated local lender serving the Lanham area with a strong reputation for exceptional customer service and competitive rates. Founded in 2008, they specialize in a wide range of loan products and are known for their personalized approach, quick closings, and deep knowledge of the Maryland and D.C. metro housing markets. Their high ratings stem from consistent positive feedback on transparency, communication, and support throughout the mortgage process.
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First Savings Mortgage Corporation
First Savings Mortgage Corporation
First Savings Mortgage Corporation has been a trusted lender in the Lanham region since 1995, offering extensive experience and a commitment to customer satisfaction. They provide a variety of loan options with competitive rates and are praised for their reliability, local expertise, and hands-on guidance. With nearly three decades in business, they have built a solid reputation for helping homebuyers navigate complex mortgage scenarios efficiently.
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Prosperity Home Mortgage
Prosperity Home Mortgage, LLC
Prosperity Home Mortgage is a highly regarded regional lender with a strong presence in the Lanham area, known for its customer-centric approach and comprehensive loan solutions. Established in 1997, they combine decades of experience with modern technology to offer smooth, efficient mortgage processes. Their high customer ratings reflect dedication to competitive pricing, flexible terms, and supportive service, making them a preferred choice for Maryland homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Lanham, MD
What are the current mortgage rates like in Lanham, MD?
Mortgage rates in Lanham typically align with national averages but can vary based on local market conditions and lender competition. Currently, rates for 30-year fixed mortgages in the Lanham area range from the mid-6% to low-7% range, though this fluctuates regularly. Working with a local lender who understands Prince George's County market dynamics can help you secure competitive rates.
Are there any special first-time homebuyer programs available in Lanham?
Yes, Lanham homebuyers can access several Maryland-specific programs including the Maryland Mortgage Program (MMP), which offers competitive interest rates and down payment assistance. Prince George's County also offers additional assistance programs like the 4% Interest Rate Buy-Down Program. These programs are particularly valuable given Lanham's median home prices being above state averages.
How does Lanham's proximity to Washington D.C. affect mortgage lending?
Lanham's location in the Baltimore-Washington corridor creates unique lending considerations. Many lenders offer special programs for federal employees and contractors who work in D.C. but choose Lanham for its relative affordability. The strong regional job market also means lenders may be more flexible with debt-to-income ratios for borrowers with stable government or contractor positions.
What should I know about property taxes when getting a mortgage in Lanham?
Lanham property taxes fall under Prince George's County rates, which are among the highest in Maryland at approximately 0.96% of assessed value. Your mortgage lender will factor this into your monthly payment calculations through escrow. It's important to budget for these higher taxes, as they can significantly impact your total monthly housing payment compared to other Maryland locations.
Are there any local down payment assistance programs specific to Lanham homebuyers?
While there aren't Lanham-specific programs, Prince George's County offers the Purchase Assistance Program which provides up to $10,000 in down payment and closing cost assistance for eligible buyers. Combined with Maryland's MMP programs, qualified buyers can often secure homes with minimal out-of-pocket costs. These programs have income limits and property location requirements that Lanham residents typically qualify for.
Why Choose a Mortgage Lender in Lanham?
Local Market Knowledge
Lenders who understand Lanham'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 Lanham and get competitive rates on your home loan.