The Best Mortgage Lenders in Lusby, MD
Compare verified mortgage lenders serving Lusby, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lusby
Featured Mortgage Lenders
Calvert Mortgage
Calvert Mortgage
Calvert Mortgage is a highly-rated local mortgage broker with deep roots in Southern Maryland, specifically serving Calvert County including Lusby. With over two decades of experience, they've built an exceptional reputation for personalized service and competitive rates. Their team specializes in navigating the unique real estate market of Southern Maryland and offers comprehensive guidance through the entire mortgage process. They're particularly praised for their expertise with VA loans, which is valuable in this military-friendly region near Patuxent River Naval Air Station.
Loan Types:
First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage is a well-established regional lender with a strong presence throughout Maryland, including service to Lusby and Southern Maryland. With three decades of experience, they offer a comprehensive range of mortgage products and are known for their efficient processing and competitive rates. They maintain multiple local offices throughout Maryland, ensuring personalized service while leveraging their substantial lending capacity. Customers consistently praise their responsive communication and ability to close loans quickly and efficiently.
Loan Types:
Atlantic Coast Mortgage
Atlantic Coast Mortgage, LLC
Atlantic Coast Mortgage is a highly-regarded mortgage lender serving the entire DMV area, including Lusby and Southern Maryland. While based in Northern Virginia, they actively serve clients throughout Maryland with a team of experienced loan officers familiar with the local market dynamics. They're known for their competitive rates, streamlined digital process, and exceptional customer service. The company has built a strong reputation for handling complex loan scenarios and providing flexible financing solutions for diverse borrower needs across the region.
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Frequently Asked Questions
Common questions about mortgage lending in Lusby, MD
What are the current mortgage rates like in Lusby, MD?
Mortgage rates in Lusby are generally competitive with national averages but can be slightly influenced by local market conditions and the lender you choose. As of recent trends, rates for 30-year fixed mortgages in Calvert County typically range from the mid-6% to low-7% range, but it's best to get quotes from local lenders who understand the Southern Maryland market for the most accurate and current rates.
Are there any first-time homebuyer programs specific to Lusby or Calvert County?
Yes, the Calvert County Department of Community Development offers the Mortgage Assistance Program (MAP), which provides deferred, no-interest loans to help with down payment and closing costs for eligible first-time homebuyers in Lusby. Additionally, Maryland's Mortgage Program (MMP) offers competitive rates and down payment assistance that Lusby residents can access, particularly beneficial given the area's moderate housing prices.
How does Lusby's proximity to the Calvert Cliffs Nuclear Power Plant affect mortgage lending?
Some lenders may require additional documentation or specific insurance considerations for properties near the power plant, though it typically doesn't significantly impact mortgage approval. However, it's wise to work with a local lender familiar with Lusby's unique characteristics, as they can better navigate any special requirements and ensure your homeowners insurance adequately covers any location-specific needs.
What types of properties are most common in Lusby's mortgage market?
Lusby's mortgage market primarily consists of single-family homes, many of which are older properties built between the 1970s-1990s, along with newer developments and some waterfront properties along the Patuxent River and Chesapeake Bay. This diversity means lenders in the area are experienced with various property types, including those requiring FHA 203(k) renovation loans for older homes that need updates.
Are there special mortgage considerations for buying waterfront property in Lusby?
Yes, waterfront properties in Lusby often require additional considerations like higher insurance premiums for flood insurance, which lenders will factor into your debt-to-income ratio. Many lenders may also require more conservative loan-to-value ratios for waterfront homes and additional inspections for erosion concerns or septic systems, given Lusby's coastal location along the Chesapeake Bay.
Why Choose a Mortgage Lender in Lusby?
Local Market Knowledge
Lenders who understand Lusby'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 Lusby and get competitive rates on your home loan.