Live Baltimore Mortgage Lenders
You've found the house, now begins the search on how to pay for it! Compare a variety of lenders that know Baltimore City, and offer competitive products and quality service. Live Baltimore partners with area businesses all year long to market their products, services and available properties because they love Baltimore City! From aquisition to renovation loans, the most current products available are listed below.
BB&T Mortgage
200 East Pratt Street Suite 2051
Baltimore, MD 21202
www.bbt.com
Hilbert Byers
410.764.0663 Office
410.428.0304 Cell
hbyersjr@bbandt.com
Mark Cohen
410.415.5095 Office
410.207.1495 Cell
mmcohen@bbandt.com
Harvey Hackerman
410.356.1456 Office
443.858.1525 Cell
hhackerman@bbandt.com
BB&T’s “CHIP” Program
- With 10% down, no mortgage insurance
- Seller can pay all Closing Costs
- Gifts & Grants ok for Closing Costs
- For Primary Residences only and Homeownership Counseling is required
- Loans subject to credit approval
Maryland Community Development Administration
FHA and VA
- Local underwriting and processing
- Direct Endorsement FHA underwriters
- Up to 97% financing for FHA Loans
- Up to 100% financing for VA Loans
- In-House approval
BB&T is a full service lender. We offer a wide array of conventional mortgages including Fixed, ARMs, Jumbo and Construction/Perms to help fill every customers needs. And we don’t sell our Servicing.
BB&T… “The Best Bank in Town since 1872”
Carrollton Mortgage Services, Inc.
A Subsidiary of Carrollton Bank
2300 York Road
Baltimore, MD 21093
www.stuartepstein.com
sepstein@carrolltonbank.com
Carrollton Bank, in business in Baltimore for over 100 years, has one of the most comprehensive portfolios of mortgage products available! Whether you are a first-time homebuyer or a seasoned investor, Carrollton has an affordable program just for you. Our experienced team understands the needs of our homebuying market. Our loan processing, underwriting and funding are all done in-house, which makes your entire homebuying experience simple and easy. Our goal is to provide you with the best rate and service you can find. Let us earn the privilege of becoming your mortgage consultants for life!
Highlights
First-time Buyers
- Maryland Mortgage Program (CDA)— We are a Quick-Close Lender for CDA
- DSELP / House Keys / Smart Keys / Block Grants…and more
- FHLB Grant—additional $7,500 toward closing and down payment
- No Mortgage Insurance Options
- Live Near Your Work/House Keys
Special Products
- FHA 203(k) Renovation loans—1–4 unit properties
- Construction/Permanent financing
- Delegated Underwriter of FHA and VA loans
- Higher Loan Limits Special Products
- True Bi-weekly Mortgage
- BRAC Realignment—closing cost credits
Contact
Stuart Epstein, 410.491.0200 sepstein@carrolltonbank.com
MECU of Baltimore, Inc. (Municipal Employees Credit Union)
MECU-Baltimore’s Credit Union
Corporate Offices
7 E. Redwood Street, Baltimore, MD 21202
www.mecu.com
410.752.8313 or 800.248.MECU
To pre-qualify or apply for a MECU Mortgage Loan, please contact Financial Security Consultants:
www.fscontheweb.com
410.823.3300 or 800.730.7599
Membership Eligibility
You’re eligible for membership if you:
- live, work, worship or attend school in Baltimore, OR
- are a family member (by blood, marriage or adoption) of a current or potential eligible member, OR
- reside in the same household as a current or potential eligible MECU member, OR
- you are an employee of a Select Employee Group.
Joining is easy and "once a member... always a member" for as long as you keep your Share account open and remain a member in good standing – even if you no longer live, work, worship or attend school in Baltimore.
The Credit Union Membership Advantage
Banks earn profits for their stockholders. MECU is a nonprofit financial institution, owned by its members. We offer the same products and services as a Bank, only better!
What does this mean to you? MECU passes the savings on to you (not stockholders) with lower loan rates, better deposit rates and fewer/lower fees. Plus, MECU has been paying members loan interest rebates for nearly three decades. Yes, you’ll get back some of the interest you pay. Think about it – what bank would do this for you? Rebates are paid in June and December – in time for the vacation and holiday seasons. Rebates are subject to annual Board approval.
Rate Discounted Mortgage Programs
- First Time Homebuyers – receive 0.25%* off your mortgage rate by completing an approved homeownership counseling program. Offers low down payments, competitive rates, no points and affordable payments.
- Buy in Baltimore – receive 0.25%* off your mortgage rate by purchasing a home in the city of Baltimore. Offers below market rates to encourage homeownership in Baltimore City.
*Maximum rate discount is 0.25%. Buy in Baltimore rate discount requires a MECU checking account with direct deposit and automatic payment (direct debit) on your mortgage loan.
Mortgage Products
MECU offers conventional and jumbo mortgage loans with no points and with points (to get a lower rate):
- Fixed rate mortgages
- Adjustable rate mortgages (ARMs)
Save time - Why fill out paperwork twice? You may qualify for a MECU Home Equity Line of Credit too. Ask when you apply for your MECU Mortgage.
M&T Bank
25 S. Charles Street
Baltimore, MD 21201
www.mandtmortgage.com
1.800.624.6616
Pat Smith
gsmith11@mtb.com
410.458.1735
First-Time Homebuyer Programs
Making the transition from renting to owning a home may seem difficult, but with M&T you can become a homeowner even if you have:
Little money saved - M&T offers low downpayment mortgage options, reducing the amount of cash savings needed to buy a home. We may even be able to help you finance your closing costs.
Less-than-perfect credit or no credit history - If your credit isn’t perfect, M&T can often find a mortgage that’s right for you. And, if you lack a credit history, we may be able to use “non-traditional” forms of credit including records of timely utility or rent payments.
Changed jobs recently - When buying a home, a steady income is more important than how long you’ve been in the same job.
Foreign citizenship – If you are a legal resident, you can likely purchase a home in the United States.
M&T’s First-Time homebuyer programs include:
M&T’s Get Started Mortgage
Buy a $100,000 home with just $1,000! Featuring a low 1% cash downpayment and financed closing costs, M&T’s Get Started Mortgage makes buying a home easier than ever. M&T’s Get Started Mortgage is available in select counties in New York, Pennsylvania, Maryland, West Virginia, Virginia and Washington DC*
FHA Mortgages
A flexible, low downpayment financing solution. And with no maximum income limits, FHA mortgages are available to almost any homebuyer.
FHA 203 (K) MakeOver Mortgage
Buy and improve a home in one easy step. Featuring low downpayments and low closing costs, M&T’s MakeOver Mortgages combine purchase and home improvement financing in a single loan.
VA Mortgages-With no downpayment required, VA Mortgages offer special advantages to eligible veterans, reservists and active-duty personnel. Plus, sellers can help pay your closing costs.
Maryland’s Community Development Administration Program - More House 4 Less
Qualified first-time homebuyers living in Maryland can enjoy the following:
- 100% financing available on single or two-family residences
- Below market interest rates
- Closing cost assistance
*The example above is based on a fixed interest rate of 5.875% with an APR of 6.88% and 360 monthly principal and interest payments of $857.73. Example assumes a 97% loan-to-value ratio, $625 in fees, 15 days pre-paid interest and a $145,000 mortgage amount. Remaining downpayment, closing costs and prepaid items (excluding any interim interest if applicable) may be funded by a gift, grant subsidy or an M&T unsecured loan. Example for illustrative purposes only. Posted rate effective 4/12/06 for low/moderate income areas only. Please call for current rates. Certain restrictions apply. Maximum income by household size, 80% of area median income unless property is located in a low/moderate income census tract, then no income limit applies. Available in select counties.
PrimeLending
1954 Greenspring Drive, Suite 625
Timonium, MD 21093
www.primelending.com
Gene Frazier
Mortgage Banker
410.308.8726 Office
gfrazier@primelending.com
Dave Meurer
Mortgage Banker / Branch Manager
410.308.8727 Office
410.241.7908 Cell
877.299.4262 Fax
dmeurer@primelending.com
Brenda J. Spaulding
Regional Operations Manager
410.427.0557 Office
bspaulding@primelending.com
PrimeLending is a full-service mortgage banking company with regional headquarters in Timonium, Maryland. We have a local staff of experts for both first-time homebuyers and those considering another home. Ask us about FHA Loans, Float-Down Option, and Repair Escrow, and Programs to assist with Closing Costs. PrimeLending: Mortgages without obstacles.
State of Maryland Mortgage Program (CDA)
Single Family Housing Community Development Administration
Maryland Department of Housing and Community Development
www.mmprogram.com
stanfield@dhcd.state.md.us
410.514.7530
Toll free (Maryland Only): 800.638.7781
The State of Maryland works with lenders across the state to provide mortgage products. All of Baltimore City is eligible for these loans.
Zero Point Rate: 4.50% fixed (subject to change), 30 year term
Two Point Rate: 4.25% fixed (subject to change), 30 year term, 2 points negotiable between buyer and seller
You could also qualify for the $2,500 DSELP (Downpayment Settlement Expense Loan Program) 0% Interest Loan, when using the CDA Mortgage. Click here for more information on DSELP.
There are some eligibility requirements for this program:
- Income Limits: 1 or 2 persons in home $102,840; 3 or more $119,980
- Maximum Acquisition Costs: $525,091
- Do not have to be a first-time homebuyer.
- Must complete homebuyer education; there are several homeownership counseling agencies in Greater Baltimore. See www.mmprogram.com for a list.
Wells Fargo Home Mortgage
2400 Boston Street, Suite 404
Baltimore, MD 21224
Jon Wald - Sales Manager
Renovation Specialist
NMLSR ID 571973
Wells Fargo Home Mortgage
410.558.5123 Office
914.629.1278 Cell
Jonathan.w.wald@wellsfargo.com
www.jonwald.net (Start your application today)
Michael E. Crook - Home Loan Consultant
Renovation Specialist
NMLSR ID 463569
410.512.4844 Office
410.804.4488 Cell
Michael.E.Crook@WellsFargo.com
Count on Wells Fargo Home Mortgage to help you with your home financing needs.
Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. and Equal Housing Lender.
