The Best Mortgage Lenders in Prince Frederick, MD
Compare verified mortgage lenders serving Prince Frederick, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Prince Frederick
Featured Mortgage Lenders
Bay Capital Mortgage Corporation
Bay Capital Mortgage Corporation
Bay Capital Mortgage is a highly-rated Maryland-based lender with nearly two decades of experience, specializing in residential mortgages for Prince Frederick and surrounding areas. They are renowned for their personalized service, competitive rates, and expertise in various loan programs, including first-time homebuyer options. With a strong focus on customer satisfaction and a track record of timely closings, they have built a loyal client base through transparent processes and local market knowledge.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with a robust presence in Maryland, serving Prince Frederick with innovative digital tools and competitive loan products. With over 20 years in business, they excel in providing efficient, transparent lending experiences and have earned high marks for customer service and rate competitiveness. Their local Bethesda office ensures personalized support for homebuyers in Calvert County, backed by a wide array of loan options and strong community engagement.
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New American Funding
New American Funding
New American Funding is a top-rated mortgage lender with over two decades of experience, offering comprehensive loan solutions to Prince Frederick residents. Known for their commitment to diversity and inclusion, they provide specialized programs for first-time and underserved buyers, along with competitive rates and exceptional customer service. Their Baltimore office supports the Southern Maryland region with reliable, fast closings and a strong reputation for community involvement and customer satisfaction.
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Frequently Asked Questions
Common questions about mortgage lending in Prince Frederick, MD
What are the current mortgage rates like for homebuyers in Prince Frederick, MD?
Mortgage rates in Prince Frederick typically align with national averages but can be influenced by local market conditions. Currently, rates for 30-year fixed mortgages in Calvert County range from the mid-6% to low-7% range, though this varies by lender, credit score, and loan type. Working with a local lender who understands the Southern Maryland market can help you secure competitive rates.
Are there any first-time homebuyer programs specific to Prince Frederick or Calvert County?
Yes, the Calvert County Department of Community Development offers several programs including down payment and closing cost assistance for eligible first-time homebuyers. The Maryland Mortgage Program (MMP) also provides competitive interest rates and down payment assistance that Prince Frederick residents can access. These programs can be particularly helpful given the county's median home prices.
How does Prince Frederick's rural location affect mortgage lending requirements?
Prince Frederick's designation as a rural area makes some properties eligible for USDA loans, which offer 100% financing with no down payment required. However, properties must meet specific location and condition requirements. Conventional loans may require additional inspections for properties with wells and septic systems, which are common in Calvert County's more rural areas.
What should I know about property taxes when getting a mortgage in Prince Frederick?
Calvert County has some of the lowest property tax rates in Maryland, currently around 0.895% of assessed value. However, your lender will still include these taxes in your monthly mortgage payment through an escrow account. It's important to factor in that property assessments in Calvert County have been rising, which could affect your long-term housing costs.
Are there any special considerations for waterfront or near-waterfront properties in Prince Frederick?
Yes, waterfront properties along the Patuxent River or Chesapeake Bay tributaries often require additional insurance coverage like flood insurance, which lenders will mandate and include in your mortgage payment. These properties may also have higher appraisal costs and different lending requirements due to their unique characteristics and higher values in Calvert County's desirable waterfront market.
Nearby Cities
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Why Choose a Mortgage Lender in Prince Frederick?
Local Market Knowledge
Lenders who understand Prince Frederick'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 Prince Frederick and get competitive rates on your home loan.