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Maryland Mortgage Rates
|Unlock Bank||3.875||30 Year Fixed||Jumbo||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.625||15 Year Fixed||Jumbo||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.25||5 Year ARM||Conforming||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||3.625||30 Year Fixed||Conforming||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.375||5 Year ARM||Jumbo||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.5||5 Year ARM||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||3.25||30 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.5||15 Year Fixed||Conforming||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.375||15 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
By: Lisa Burden | October 12th, 2012
Although Maryland had the highest median income of all states with a median income above $70,000 in 2011, according to data available from the U.S. Census Bureau, the FHA Streamline Refinance program – long a staple of blue-collar and middle class households — continues to be popular with residents of the Free State.
The Federal Housing Administration (FHA) has estimated that the average qualified FHA-insured borrower will save approximately $3,000 a year or $250 per month.
The FHA Streamline Refinance program drastically eliminates the amount of paperwork that has to be provided to the lender. The program’s requirements are minimal. A borrower does not have to demonstrate employment under an FHA Streamline Refinance. Income verification is not required and the borrower’s credit score is not checked. An appraisal is not required. However, lender requirements may vary.
But, borrowers must be current on their existing FHA mortgage – no late payments for one year — and the refinance must show a legitimate reason for refinancing, i.e., “net tangible benefit.” One example of a net tangible benefit is refinancing from an adjusting ARM into a fixed rate loan and, of course, there’s always the benefit in lowering monthly mortgage payments by obtaining one of the super low interest rates available today. The streamline refinance does not allow for cash out.
Borrowers are finding that obtaining a refinance through online resources is convenient. The online form is available for this purpose. Besides being convenient, it is fast as a response is returned almost immediately and added security is provided because a social number is not needed.
FreeRateUpdate.com surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at about a 1 point origination fee.
Latest HARP Mortgage News December 7th, 2013
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Most of the negative equity home values are concentrated in the low end of the housing market, according to CoreLogic’s Q2 2012 Negative Equity Report. For example, for low- to mid-value homes — less than $200,000 — the negative equity … Continue reading
Foreclosure Records in 2010 Should Boost Private Rentals
By: Bruno Mckenzie | January 14th, 2010
With foreclosures expected to break a new record in 2010, private rentals should become more popular than ever. A private rental is defined as a residence or property loaned out by a landlord to a renter, also referred to as … Continue reading
Burtonsville Area Appealing to Buyers for Many Reasons
By: Bruno Mckenzie | January 10th, 2010
Burtonsville homes A search in finding Burtonsville homes should commence by picking up any local Montgomery County real estate listing publications, which are available in any of the local shopping places. The area is appealing to buyers for many reasons, … Continue reading