The Best Mortgage Lenders in Stevensville, MD
Compare verified mortgage lenders serving Stevensville, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Stevensville
Featured Mortgage Lenders
Bay Capital Mortgage
Bay Capital Mortgage Corporation
Bay Capital Mortgage is consistently rated as one of Maryland's top mortgage lenders, serving the entire Eastern Shore including Stevensville. With over two decades of experience, they specialize in personalized service and competitive rates for all loan types. Their team of local experts understands the unique Maryland real estate market and provides exceptional customer service with rapid processing times. They have maintained stellar reviews for their transparency, communication, and ability to close loans efficiently.
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Sandy Spring Bank
Sandy Spring Bank
As one of Maryland's oldest and most established financial institutions, Sandy Spring Bank has deep roots in the Stevensville and Eastern Shore communities. They offer comprehensive mortgage solutions with the advantage of local decision-making and personalized service. Their mortgage specialists provide competitive rates and flexible terms, backed by the stability of a community-focused bank that understands the local real estate market. Customers consistently praise their professional service and smooth closing process.
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Presidential Bank
Presidential Bank, FSB
Presidential Bank has been serving Maryland homeowners for over three decades with a strong reputation for competitive mortgage products and excellent customer service. While headquartered in Bethesda, they actively serve the Stevensville area and throughout the Eastern Shore. They specialize in both traditional and unique lending scenarios, offering personalized attention and local market expertise. Their experienced loan officers are known for their responsiveness and ability to navigate complex financing situations while maintaining competitive rates.
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Frequently Asked Questions
Common questions about mortgage lending in Stevensville, MD
What are the current mortgage rates like for homes in Stevensville, MD?
Mortgage rates in Stevensville are generally competitive with national averages but can vary based on the specific property's location relative to flood zones or coastal areas. As of recent trends, rates for 30-year fixed mortgages typically range from the mid-6% to low-7% range, but working with a local lender who understands Queen Anne's County can help you secure the best available terms based on your financial profile.
Are there any first-time homebuyer programs specific to Stevensville?
Yes, Stevensville homebuyers can access Maryland Mortgage Program (MMP) options, which include down payment assistance grants and favorable loan terms. Additionally, Queen Anne's County offers its own Homeownership Program that provides closing cost assistance to eligible buyers purchasing within the county, making Stevensville's waterfront-adjacent properties more accessible to first-time buyers.
How does Stevensville's location in a coastal area affect mortgage requirements?
Due to Stevensville's proximity to the Chesapeake Bay, many properties require flood insurance, which lenders typically mandate for mortgages in designated flood zones. This additional insurance cost must be factored into your debt-to-income ratio calculations, and some lenders may have specific requirements for properties near coastal areas, so it's important to work with an experienced local mortgage professional.
What types of properties are most common for mortgage lending in Stevensville?
Stevensville features a mix of single-family homes, townhouses, and some condominiums, with many properties being part of planned communities like the popular Kingstown development. Lenders are very familiar with these property types, though condos may require additional review of homeowner association finances. Waterfront and water-access properties are also common but may involve additional appraisal considerations.
How competitive is the mortgage pre-approval process in Stevensville's housing market?
Given Stevensville's desirable location between the Bay Bridge and Kent Island's amenities, the housing market can be competitive, making a strong pre-approval essential. Local lenders who understand the Queen Anne's County market can provide faster underwriting and more reliable pre-approvals, which is crucial when competing for properties in this sought-after Eastern Shore community.
Nearby Cities
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Why Choose a Mortgage Lender in Stevensville?
Local Market Knowledge
Lenders who understand Stevensville'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 Stevensville and get competitive rates on your home loan.