The Best Mortgage Lenders in Millington, MD
Compare verified mortgage lenders serving Millington, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Millington
Featured Mortgage Lenders
First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage is one of Maryland's most respected and highest-rated mortgage lenders with over 30 years of service throughout the state. They have extensive experience serving the Eastern Shore region including Millington and surrounding Kent County. Known for their exceptional customer service and competitive rates, they offer a comprehensive range of loan products with personalized guidance through the entire mortgage process. Their local loan officers have deep knowledge of Maryland's housing market and provide tailored solutions for both purchase and refinance needs.
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Bay Capital Mortgage
Bay Capital Mortgage Corporation
Bay Capital Mortgage has built an outstanding reputation serving Maryland homebuyers across the state, including the Eastern Shore communities like Millington. With two decades of experience, they are particularly known for their expertise in construction and renovation loans, making them an excellent choice for rural properties. They maintain strong relationships with local real estate professionals and offer flexible underwriting with competitive rates. Their team provides personalized service with quick turnaround times and extensive knowledge of Maryland's unique mortgage requirements.
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Shore United Bank
Shore United Bank
As a community bank deeply rooted in the Eastern Shore for over a century, Shore United Bank has exceptional knowledge of the Millington area and surrounding Kent County. They offer the personalized service of a local institution with the resources of a full-service bank. Their mortgage team provides competitive rates and flexible terms, with particular strength in rural and agricultural property financing. With multiple branches throughout the Eastern Shore, they offer convenient local access and understand the unique character of Maryland's rural communities, making them an ideal choice for Millington residents.
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Frequently Asked Questions
Common questions about mortgage lending in Millington, MD
What are the current mortgage rates like for homes in Millington, MD?
Mortgage rates in Millington typically align with national averages but can be influenced by local market conditions. Currently, rates for 30-year fixed mortgages in Kent County range from 6.5% to 7.25%, depending on credit score and loan type. It's advisable to compare rates from both local Maryland lenders and national institutions for the best deal.
Are there any first-time homebuyer programs specific to Millington or Kent County?
Yes, the Maryland Mortgage Program (MMP) offers several options for first-time homebuyers in Millington, including down payment assistance grants and competitive interest rates. Additionally, Kent County may have local initiatives, so consulting with a mortgage lender familiar with Maryland's eastern shore region can help identify all available resources.
How does Millington's rural location affect the mortgage process?
Millington's rural setting can impact appraisals due to fewer comparable home sales, potentially requiring appraisers from outside the immediate area. USDA loans are also popular here, offering 100% financing for eligible borrowers in designated rural areas, which includes most of Kent County outside Chestertown.
What types of properties are common in Millington, and how does this affect loan options?
Millington features a mix of historic homes, newer constructions, and rural properties, including some with acreage. While conventional loans work for most properties, older homes may require specialized renovation loans like the FHA 203(k), and larger parcels might need jumbo or portfolio lending options not available everywhere.
Are there property tax considerations in Millington that I should factor into my mortgage?
Kent County property taxes are relatively low compared to other Maryland counties, currently around 0.894% of assessed value. However, Millington residents should also budget for town taxes if applicable. Your lender will include these in your monthly escrow calculations, but it's wise to verify exact rates with local authorities.
Why Choose a Mortgage Lender in Millington?
Local Market Knowledge
Lenders who understand Millington'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 Millington and get competitive rates on your home loan.