The Best Mortgage Lenders in Street, MD
Compare verified mortgage lenders serving Street, Maryland. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Street
Featured Mortgage Lenders
First Home Mortgage
First Home Mortgage Corporation
First Home Mortgage is a top-rated regional lender with deep roots in Maryland, known for exceptional customer service and competitive rates. They have served the Street area for over two decades, offering personalized mortgage solutions with a local touch. Their high ratings reflect a strong track record of smooth closings and expert guidance, particularly for first-time homebuyers and those seeking specialized loan products like VA and USDA loans. With offices in nearby Bel Air, they provide convenient in-person service combined with extensive market knowledge.
Loan Types:
Bay Capital Mortgage
Bay Capital Mortgage Corporation
Bay Capital Mortgage is a highly respected lender serving Maryland communities, including Street, with a focus on transparent processes and competitive pricing. Founded in 2004, they have built a reputation for reliability and expertise in various loan types, including construction and investment properties. Their team offers tailored advice and efficient processing, earning strong customer satisfaction scores. While based in Rockville, they actively serve Harford County and provide remote services, ensuring accessibility for Street residents.
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New American Funding
New American Funding
New American Funding is a national lender with a strong local presence in Maryland, offering a wide range of mortgage products and dedicated support for the Street area. Known for competitive rates and a commitment to diversity and inclusion, they have over two decades of experience helping borrowers with various financial backgrounds. Their Baltimore office provides regional expertise, and they are praised for responsive service and innovative online tools. High review counts highlight their ability to handle complex cases and provide educational resources for homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Street, MD
What are the current mortgage rates like in Street, MD, and how do they compare to state averages?
Mortgage rates in Street, MD typically align closely with Maryland state averages, which have recently been slightly below national rates due to competitive local lending markets. For the most accurate rates, Street homebuyers should check with local credit unions like APG Federal Credit Union and national lenders serving Harford County, as rates can vary by lender and property specifics.
Are there any first-time homebuyer programs specifically available for Street, MD residents?
Yes, Street residents can access Maryland Mortgage Program (MMP) options, which offer competitive interest rates and down payment assistance grants. Additionally, Harford County offers local programs like the Settlement Expense Loan Program (SELP), which can provide up to $5,000 in assistance for closing costs when combined with MMP loans.
How does Street's rural location affect mortgage lending requirements and property eligibility?
Street's rural designation makes many properties eligible for USDA loans, which offer 100% financing with no down payment required. However, lenders may require additional property inspections for older farmhouses or rural properties with well and septic systems, which are common in this area of Harford County.
What unique closing costs should I expect when buying a home in Street, MD?
Street homebuyers should budget for Harford County-specific costs including recordation taxes (approximately 1% of purchase price), transfer taxes, and typical Maryland state mortgage taxes. Rural properties may also require specialized well and septic inspections averaging $400-600, which are often required by lenders in this area.
How do property values in Street impact loan-to-value ratios and PMI requirements?
Street's moderately priced housing market (median home value around $350,000) means many buyers can avoid PMI with 20% down payments. However, for those putting less down, PMI rates are generally favorable due to Street's stable property values and Harford County's steady market appreciation history of 3-4% annually.
Why Choose a Mortgage Lender in Street?
Local Market Knowledge
Lenders who understand Street'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 Street and get competitive rates on your home loan.