Owings, MD

The Best Mortgage Lenders in Owings, MD

Compare verified mortgage lenders serving Owings, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.

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Home Equity

Featured Mortgage Lenders

First Home Mortgage

First Home Mortgage Corporation

★★★★☆

4.8/5

First Home Mortgage is a top-rated regional lender with deep roots in Maryland, serving the Owings area with exceptional expertise. As a direct lender with in-house underwriting, they offer competitive rates and personalized service. Their 33 years of experience in Maryland real estate markets makes them particularly knowledgeable about Calvert County property values and financing needs. They consistently receive outstanding reviews for their responsive communication, streamlined process, and ability to close loans efficiently.

Experience:33 years

Reviews:285 customer reviews

(410) 263-7501

190 Admiral Cochrane Drive, Annapolis, MD 21401

Loan Types:

ConventionalFHAVAUSDAJumboRefinance

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Presidential Bank

Presidential Bank, FSB

★★★★☆

4.6/5

Presidential Bank has been serving Maryland homeowners for over three decades with a strong reputation for competitive mortgage products and local decision-making. As a community-focused bank, they understand the Southern Maryland market including Owings and offer personalized service with direct access to loan officers. Their portfolio includes specialized construction loans and jumbo mortgages, making them ideal for the diverse housing needs in Calvert County. Customers praise their transparency and commitment to finding the right financing solution.

Experience:35 years

Reviews:192 customer reviews

(301) 215-7500

4520 East-West Highway, Bethesda, MD 20814

Loan Types:

ConventionalFHAVAJumboConstructionRefinance

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Tower Federal Credit Union

★★★★☆

4.7/5

As Maryland's largest credit union, Tower Federal Credit Union has an extensive branch network serving the Owings area with exceptional mortgage services. Their not-for-profit structure allows them to offer highly competitive rates and lower fees than many traditional banks. With 85 years of financial service experience, they provide comprehensive mortgage solutions including specialized VA loans that benefit the many military families in Southern Maryland. Members consistently rate them highly for their member-focused approach and local underwriting expertise.

Experience:85 years

Reviews:387 customer reviews

(800) 472-8328

8396 Veterans Highway, Millersville, MD 21108

Loan Types:

ConventionalVAFHAJumboRefinanceHome Equity

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Frequently Asked Questions

Common questions about mortgage lending in Owings, MD

What are the current mortgage rates like in Owings, MD, and how do they compare to the national average?

Mortgage rates in Owings, MD, are typically very close to the national average, as it's part of the broader Washington-Arlington-Alexandria metropolitan statistical area. However, factors like your credit score, loan type, and down payment will have the most significant impact on your specific rate. It's wise to compare offers from both local lenders, who understand the Calvert County market, and larger national institutions.

Are there any special mortgage or down payment assistance programs for first-time homebuyers in Calvert County?

Yes, the Maryland Mortgage Program (MMP) is a key resource for first-time homebuyers in Owings and throughout Calvert County. It offers competitive interest rates and down payment assistance options, such as the 4% MMP Preferred Grant, which can be a significant help in a competitive market. You should also check with local lenders for any additional county-specific or lender-specific first-time buyer incentives.

How does Owings' location in a coastal area of Southern Maryland affect the mortgage process?

Owings' proximity to the Chesapeake Bay and its tributaries can introduce specific insurance requirements that lenders will mandate. You will likely need to secure a separate flood insurance policy, as many properties are in or near FEMA-designated flood zones. This is a critical step, as your mortgage cannot close without the proper insurance in place, and it adds to your monthly housing cost.

What types of properties are most common for mortgages in Owings, and does this impact loan options?

Owings features a mix of single-family homes, many of which are on larger, rural lots, as well as some newer construction in developments. For homes on well and septic systems, which are common outside of town centers, the mortgage process will include additional water quality and septic inspections to meet lender requirements. This is a standard but important local consideration.

Is it difficult to get a USDA loan in Owings, MD, given its semi-rural character?

Not at all. In fact, much of Owings and the surrounding Calvert County area is eligible for USDA loans, which offer 100% financing with no down payment. This can be an excellent option for eligible borrowers looking to purchase in this market. You can check the USDA eligibility map for the specific property address to confirm its qualification for this valuable program.

Mortgage Insights

Finding Your Perfect Fit: A Guide to the Best Mortgage Lenders Near Owings, MD

Searching for "best mortgage lenders near me" is a smart first step for any homebuyer, but in a unique community like Owings, Maryland, it takes on special importance. Nestled in Calvert County, Owings offers a blend of serene, semi-rural living with commuter access to DC and Annapolis. This specific market means your ideal lender isn't just about the lowest rate—it’s about finding a partner who understands the local landscape, from well and septic systems to the pace of a more relaxed market.

Your search should start by distinguishing between local, regional, and national lenders. A strong local bank or credit union with branches in Calvert County, like a community bank familiar with Owings, can offer personalized service and deep knowledge of area property types. They might be more flexible in underwriting a charming older home on a larger lot, which is common here. Conversely, a large online lender might offer highly competitive rates, which is crucial in today's market. The key is to get pre-approved by at least one of each type to compare not just rates, but also fees, responsiveness, and local expertise.

Don't overlook Maryland-specific homebuyer programs, which many lenders can help you navigate. The Maryland Mortgage Program (MMP) is a standout, offering competitive rates, down payment assistance, and tax credits for eligible buyers. This can be a game-changer for first-time homebuyers or those with moderate incomes looking at Owings. A lender experienced with MMP can streamline this process. Additionally, explore lenders familiar with USDA Rural Development loans. While not all of Owings may qualify, parts of Calvert County do, and this program offers 100% financing—a perfect fit for the area's character.

Here’s your actionable plan: First, ask every potential lender these local-centric questions: "How many loans have you closed in Calvert County in the last year?" and "Can you walk me through how a well and septic inspection impacts the loan timeline?" Their answers will reveal their local fluency. Second, read recent reviews specifically mentioning communication and closing efficiency. In a competitive situation for one of Owings' limited listings, a lender known for swift, reliable closings is a powerful asset. Finally, lean on your local real estate agent. They work with lenders constantly and can provide invaluable referrals to those who consistently perform well for their clients in our specific market.

Ultimately, the "best" mortgage lender near Owings is the one that provides a competitive financial package *and* the local insight to guide you confidently to closing on your slice of Southern Maryland. By prioritizing lenders with proven Calvert County experience and knowledge of state programs, you’re not just getting a loan—you’re gaining a trusted advisor for your biggest investment.

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Why Choose a Mortgage Lender in Owings?

Local Market Knowledge

Lenders who understand Owings'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 Owings and get competitive rates on your home loan.

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