- First-time Homeowners OK
- Competitive 2nd mortgage rates
- No Mortgage Insurance Required
- Second Mortgages for All Types of Credit
- 100% CLTV Behind a ARM 1st mortgage
Home values throughout Maryland have recently peaked at all-time highs. Take a look at the Overview for Maryland Home Mortgages. Get a credit line or second mortgage and maximize the value of your home today. Find out what the local interest rates are for home equity loans and credit lines.
With Maryland home sales remaining steady across the East Coast. It may be your last chance to refinance your adjustable rate mortgage or take out a fixed second mortgage at a competitive home equity rates
Certainly, the housing supply is on an upward trajectory, and consumer demand has experienced a decline. Home prices have witnessed a dip from their summertime peaks, a common occurrence as prices often fluctuate each month and tend to decrease in the fall following the bustling home-buying season in summer. Notably, some declines are noticeable across various regions. In the District, the median price, standing at $425,000 in October, has descended from its peak in August at $435,088. Fairfax County reached its zenith in July with a median price of $503,000, whereas in October, it was recorded at $489,450. Similarly, Montgomery County saw its peak in July at $460,000, with the median price in October settling at $429,000.
However, there is a noteworthy exception to the housing challenges in Prince George’s County, Virginia, where October witnessed an all-time high price of $315,000. This exceptional performance could be attributed to sustained high demand, likely fueled by comparatively more affordable prices than other regional areas.
Several factors contribute to the housing market’s current slowdown. Over the past few months, numerous homeowners and investors listed their properties speculatively, anticipating lucrative returns. This surge in housing supply has encountered a dwindling number of buyers, partly due to double-digit price appreciation in recent years, pricing many potential buyers out of the market. The recent uptick in mortgage interest rates, leading to higher monthly payments, has further intensified pricing pressures. Additionally, prevailing apprehensions that the market may have reached its peak are dissuading more individuals from making home purchases. Update:- Free AVM offer has been put on hold.
MD State Facts: Maryland Homeownership rate 67.6%. For more information please visit www.commerce.gov/states/maryland.html
Lending Tips from MMBA: The Maryland Mortgage Bankers Ass. suggests MMBA that you make sure that when looking for a lender that you look for a “loan professional committed to ethical conduct and good business practices. Your loan professional can often simplify the complex process of obtaining a mortgage.” especially if you contact your MMBA lender first. For more information, please visit www.mdmba.org
Debt Consolidation Loans: Home Equity or Unsecured Loan?
Debt consolidation loans have become a popular way for Maryland homeowners to free up money each month by consolidating several monthly credit card payments into a single lower interest loan. But, the question is whether it’s best to consolidate those debts into a home equity loan or an unsecured debt consolidation loan.
Maryland Mortgage Lending Law Update
Montgomery County, Maryland: second mortgage, home purchase and home equity lending has been resumed.
The Circuit Court of Montgomery County has enjoined the implementation of the County Council’s law. The state judge ruled that the lending law cannot go into effect until “notice of the court” is given after the entire suit against the implementation of the law is heard.
The ruling has not been overturned but it prevents the legislation to move forward. In lieu of this, most mortgage lenders have resumed originating mortgage loans within that county. For more information, please visit www.mamb.org
Effective immediately and until further notice: Nationwide Mortgage Loans will resume originate mortgage loans within Montgomery County, Maryland
Nationwide Testimonial: “Although we had some credit problems a few years ago, you were able to refinance my mortgage and even open a line of credit as well. Nationwide Mortgage Loans understood our needs and provided us with a great solution. Thank you!” T. Sampson-Annapolis, MD