The Best Mortgage Lenders in Stevenson, MD
Compare verified mortgage lenders serving Stevenson, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Stevenson
Featured Mortgage Lenders
Michael Glick
First Home Mortgage
First Home Mortgage is one of Maryland's most respected and highest-rated mortgage lenders with deep roots in the Baltimore area. They have been serving Stevenson and surrounding communities for over 30 years with exceptional customer service and competitive rates. Their team includes experienced loan officers who specialize in Maryland's unique real estate market, offering personalized guidance through conventional loans, government-backed programs, and specialized financing options. Their consistently high ratings reflect their commitment to transparency, communication, and making the mortgage process smooth for homebuyers throughout the region.
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John R. Tormollan
Howard Bank (now part of First National Bank)
Howard Bank, now operating as First National Bank, has built an outstanding reputation throughout Maryland with strong local presence and community-focused lending. They offer a comprehensive range of mortgage products with particular expertise in jumbo loans and construction financing that appeals to Stevenson's market. Their local loan officers provide personalized service with deep knowledge of Baltimore County's housing trends and property values. The bank is known for competitive rates, flexible terms, and their ability to handle complex financing scenarios while maintaining excellent communication throughout the loan process.
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Mortgage Department
Tower Federal Credit Union
Tower Federal Credit Union is one of Maryland's largest and most trusted financial institutions with a strong mortgage lending division that serves the entire state, including Stevenson. With over 85 years of operation, they bring exceptional stability and member-focused service to the mortgage process. They offer highly competitive rates for members and non-members alike, with particular strength in VA loans and first-time homebuyer programs. Their digital mortgage application process is user-friendly, and they're known for quick turnaround times while maintaining personalized service through local loan officers who understand Maryland's real estate landscape.
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Frequently Asked Questions
Common questions about mortgage lending in Stevenson, MD
What are the current mortgage rates like in Stevenson, MD compared to the national average?
Mortgage rates in Stevenson are typically very competitive with the national average, but can be slightly influenced by Maryland's overall rate environment and the high property values in this affluent Baltimore County area. It's wise to compare offers from both local lenders familiar with the Stevenson market and national institutions to secure the best rate for your specific financial profile.
Are there any special loan programs for first-time homebuyers in Stevenson?
Yes, Maryland offers several statewide programs that Stevenson buyers can utilize, such as the Maryland Mortgage Program (MMP), which provides competitive interest rates and down payment assistance. Given Stevenson's higher-than-average home prices, these assistance programs can be particularly valuable for first-time buyers to help bridge the affordability gap in this desirable community.
How do Stevenson's strict zoning and architectural review standards affect the mortgage process?
Stevenson's unique character is protected by architectural and design review committees, which can impact your timeline. Your lender will need to ensure any property you're purchasing has met all local requirements, as non-compliance could affect property value and loan eligibility. It's crucial to work with a local real estate agent and lender who are experienced with Stevenson's specific regulations.
What is the typical down payment required for a home in Stevenson's competitive market?
While 20% down is ideal to avoid private mortgage insurance (PMI), Stevenson's high median home prices mean many buyers opt for conventional loans with 10% down or even FHA loans with 3.5% down. In this competitive market, a larger down payment can make your offer more attractive to sellers, but various loan options are available depending on your qualifications.
Are jumbo loans common in Stevenson, and what are their specific requirements?
Yes, jumbo loans are very common in Stevenson due to home prices frequently exceeding conventional loan limits ($ in 2024). Stevenson jumbo loan requirements are often stricter, typically requiring excellent credit scores (700+), lower debt-to-income ratios, and larger down payments (often 20% or more) along with significant cash reserves after closing.
Nearby Cities
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Why Choose a Mortgage Lender in Stevenson?
Local Market Knowledge
Lenders who understand Stevenson'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 Stevenson and get competitive rates on your home loan.