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.
1st Mariner Bank
3301 Boston Street
Baltimore, Maryland 21224
410.558.4200
www.1stmarinerbank.com
Guy Stafford
410.558.4483
gstafford@1stmarinerbank.com
Rodney Archable
443.573.3054
rarchable@1stmarinerbank.com
First Time Home Buyer Programs: Maryland Mortgage Program offers below market interest rates along with settlement expense assistance. Zero down payment programs available as well. We participate in most closing cost assistance programs in the greater Baltimore Marketplace. We are FHA/VA approved lenders.
Borrower’s Advantage: 103% financing. The 1st Mariner Mortgage Borrower’s Advantage program allows the purchaser to borrow up to 100% of the purchase price, and finance 3% of the closing cost in the mortgage. The program will also allow the seller to pay up to 3% of the remaining closing costs eliminating the cash required to purchase a home.
Renovation Loans: 1st Mariner Mortgage offers a complete line of renovation loan programs. You can borrow enough money to purchase and renovate your new home in one easy loan.
Interest Only Loans: 1st Mariner Mortgage offers interest only mortgages providing borrowers the lowest mortgage payment options and improving cash flow.
RateXchange: A 1st Mariner exclusive program, the RateXchange allows the borrower to permanently buy down the interest rate on a mortgage by financing up to 6% of the cost of the buy down. This program can provide the borrower with some of the lowest interest rates available.
Bank of America
100 S. Charles Street
Baltimore, MD 21201
www.bankofamerica.com/loansandhomes
Bryan Nagel
443.837.0453
bryan.nagel@bankofamerica.com
Perry Johnson
443.837.0452
perry.johnson@bankofamerica.com
Manuel Alvarez - Bi-lingual: English and Spanish
410.540.5241
manuel.alvarez@bankofamerica.com
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
Bank of America Home Loans is one of the nation’s largest mortgage and home-equity lenders providing consumers with a multitude of options to support the goal of responsible lending and homeownership.
Bank of America Home Loan representatives with local expertise are ready to serve you. Consider these home financing options:
FHA and VA loans - Flexible guidelines and a dedicated fulfillment team
Guidance on BRAC relocation options, Neighborhood Stabilization Program, and other state/municipal downpayment and closing cost assistance programs.
Neighborhood Champions Protected Mortgage® - Financing for teachers, firefighters, police and medical professionals
Jumbo lending – Financing to loan amounts of $3million and beyond.
All of our loans come with The Clarity Commitment™ —a simple one-page summary written in plain language that highlights key terms of your loan (provided as a convenience; does not substitute for actual loan documents).
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
410.415.5025 Office
410.207.1495 Cell
mmcohen@bbandt.com
Mark Pernia
301.490.4154 Office
301.503.9120 Cell
mpernia@bbandt.com
Shavonda Wilson
410.265.3699 Office
443.838.5328 Cell
shavonda.wilson@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
Stuart Epstein
410.491.0200 Office
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 1st time homebuyer or a seasoned investor, Carrollton has an affordable program just for you. Our experienced team understands the needs of our home buying market.
Our loan processing, underwriting, and funding is all done right here in-house which makes your entire home-buying 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
- 100% Financing Options
- 80/20’s with no MI
- 101% (covers purchase plus closing costs)
- Conv loans with LPMI
- CDA loans with grant money
Renovation Loans
- FHA 203(k) Renovation loans
- 100% Investor/Rehab loan (one of a kind)
- Interest Only/ARMS
- 1,3,5,& 7 Year Adjustable-Rate Loans
- Interest-Only Options (to keep your payment down and afford more home)
- FHA and VA (direct underwriters)
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.
Prospect Mortgage
The Hibbs Team
1425 Clarkview Road
Baltimore, MD 21209
410.823.4700 Office
410.823.4705 Fax
www.lewisloans.com
Lewis C. Hibbs, Jr.
Loan Consultant
443.632.0856 Direct Dial
443.695.8513 Cell
Lewis.Hibbs@ProspectMtg.com
Justin Poulin
Loan Consultant
207.312.7166 Cell
Justin.Poulin@ProspectMtg.com
Cicely Miller
Loan Assistant
443.632.0870 Direct Dial
Cicely.Miller@ProspectMtg.com
Prospect Mortgage is safe, sound, strong, and secure. We are one of the largest independent retail residential mortgage lenders in the United States.
We are backed by the stability of Sterling Partners, a multi-billion dollar private equity firm, and the strength of our company. Sterling Partners provides us with stable funding and the ability to continue funding our clients’ real estate needs when many other lenders cannot.
We have a long tradition of outstanding customer service, which will impress our clients from the start. From fast loan approvals to final funding, we’ll keep you informed every step of the way.
We have a wide array of mortgage products. The Hibbs Team specializes in 203k Renovation Loans and is recognized for its 203k expertise.
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.
TD Bank
Melissa Blount
888.751.9000
www.tdbank.com
TD Bank is one of the 15 largest commercial banks in the U.S., with more than 23,000 Employees and deep roots in the community. The Bank offers a broad array of retail, small business and commercial banking products and services to more than 6.5 million customers through its extensive network of more than 1,000 retail locations throughout the Northeast, Mid-Atlantic, Florida and Metro DC.
Wells Fargo Home Mortgage
1220 E. Joppa Road, Suite 114
Towson, MD 21286
Jonathan W. Wald
Home Mortgage Consultant
Wells Fargo Home Mortgage
1447 York Rd 5th Floor
Lutherville, MD 21093
www.jonwald.net (Apply online)
Jonathan.w.wald@wellsfargo.com
410.512.4838 - Tel
914.629.1278 - Cell
866.495.8231 - Fax
Michael E. Crook - Home Loan Consultant
410.512.4844 - Direct Dial
410.804.4488 - Cell
Michael.E.Crook@WellsFargo.com
For more information on our products and services, or to apply on line visit my website
www.wfhm.com/loans/michael-crook
You Can Dream or You Can Own: Let Wells Fargo Home Mortgage Help you with Your Homebuying Needs
Free Home Buyer Education Workshops call for times and locations
America's leader in FHA and VA Loans
A Selection of Home Renovation (203K) Financing Programs to Choose From
Flexible Term, and Adjustable Rate Mortgages Customized to Your Needs
Special First Time Homebuyer programs
Dreaming is the First Stage. Let Wells Fargo Home Mortgage take you to the Next Stage.
Additional Business Partners
Baltimore Community Lending
120 East Baltimore Street, Suite 1350
Baltimore, MD 21202
410.727.8590
ruth.louie@bclending.org
www.bclending.org
Our lending professionals can help you with a single-family rehabilitation, multi-family or investor loan.
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