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
http://www.1stmarinerbank.com/
Guy Stafford
410.558.4483
gstafford@1stmarinerbank.com
Rodney Archable
443.573.3054
rarchable@1stmarinerbank.com
Shavonda Wilson
443.573.2688
swilson@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.
BB&T Mortgage
200 East Pratt Street Suite 2051
Baltimore, MD 21202
www.bbt.com
Mark Cohen
410.356.1456
mmcohen@bbandt.com
David Crockett
410.769.7577
dcrockett@bbandt.com
Colin White
410.494.1023
colin.white@bbandt.com
Jack Thompson
410.579.5888
thompson.john@bbandt.com
BB&T’s “CHIP” Program
• No Mortgage Insurance.
• Up to 95% Financing available to qualified buyers in targeted areas..
• No Income Limits in Baltimore City
• Gift Funds can be used for a down-payment
• Unlimited seller contributions
Maryland Community Development Administration
• Approved “CDA” lender. See http://www.morehouse4less.com/
• Down-payment assistance available
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
Main Office
2300 York Road
Baltimore, MD 21093
Stuart Epstein
sepstein@carrolltonbank.com
www.stuartepstein.com
410.491.0200
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 w/ no MI
103% (covers purchase plus closing costs)
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)
Municipal Employees Credit Union of Baltimore, Inc.
MECU-Baltimore’s Credit Union
7 E. Redwood St., 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:
http://www.fscontheweb.com/
410.823.3300 or 800.730.7599
Ask FSC about MECU’s $150 closing costs rebate offer!
The Credit Union Advantage
MECU passes the savings on to you. Banks earn profits for their stockholders. MECU is a nonprofit, owned by its members. What does this mean to you? – lower loan rates and fewer/lower fees. MECU has been paying 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? You’ll receive your rebates in June and December – in time for the vacation and holiday seasons. Joining is easy. You don’t have to work for Baltimore City. You’re eligible for membership if you:
1) live, work, worship or attend school in Baltimore, OR
2) are a family member (by blood, marriage or adoption) of a current or potential eligible member, OR
3) reside in the same household as a current or potential eligible MECU member, OR
4) you are an employee of a Select Employee Group.
Mortgage Products
MECU offers conventional mortgages with no points:
fixed rate 15-, 20- and 30-year
adjustable rate 3/1, 5/1 and 7/1
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.
Also ask about MECU’s $200 VISA® Gift Card offer for new Home Equity Line of Credit borrowers!
Special Programs
First Time Homebuyers – receive .25% off your mortgage rate by completing an approved homeownership counseling program.
Buy in Baltimore – receive .25% off your mortgage rate by purchasing a home in the city of Baltimore.
Home Loan Payment Relief (HLPR) – HLPR features a 3-year ARM for qualified borrowers at 1% below the national average. The required down payment will not exceed 3%, and gifts/grants are permitted.
M&T Bank
25 S. Charles Street
Baltimore, MD 21201
http://www.mandtmortgage.com/
1.800.624.6616
Reginald Exum
rexum@mtb.com
410.244.4308
Haener Elie
helie@mtb.com
410.354.8726
Pat Smith
mailto: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 D.C.*
Home Possible and MyCommunity Mortgages
With no downpayment required, there’s no need to wait to buy a first home.
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
Interest-only payment options
*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.
For additional product information visit M&T Mortgage online at http://www.mtb.com/.
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
All of Baltimore City Eligible
Income Limits: 1 or 2 persons in home $91,080, 3 or more $102,260
Maximum Acquisition Costs: $522,363
Zero Point Rate: 6.00% fixed (subject to change), 30 year term
Two Point Rate: 5.75% fixed (subject to change), 30 year term, 2 points negotiable between buyer and seller
Qualify for the $2,500 DSELP 0% Interest Loan, when using the CDA Mortgage. Click here for more information on DSELP.
Must complete home buyer education - There are several homeownership counseling agencies in Greater Baltimore, see www.mmprogram.com for a list. Do not have to be a first-time home buyer.
TD Bank
Martha Perea
Community Development Loan Officer
2070 Chain Bridge Road, Suite 135
Vienna, VA 22182
703.663.7706 - Office
703.309.7843 - Cell
703.663.4981 - Fax
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 D.C.
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
http://www.jonwald.net/ (Apply online)
Jonathan.w.wald@wellsfargo.com
410.512.4838 - Tel
914.629.1278 - Cell
866.495.8231 - Fax
The Marra Renovation Group
Lisa Marra
Certified Renovation Specialist
http://www.themarrarenovationgroup.com/ (apply online)
Lisa.R.Marra@WellsFargo.com
410.512.4828 - Direct Dial
410.598.2609 - Cell
800.455.9191 - Toll Free: Press Option 3, Ext 4828 for Lisa
866.617.4269 - Fax
The Marra Renovation Group
Michael E. Crook
Certified Renovation Specialist
http://www.themarrarenovationgroup.com/ (apply online)
Michael.E.Crook@WellsFargo.com
410.512.4844 - Direct Dial
410.804.4488 - Cell
800.455.9191 - Toll Free: Press Option 3, Ext 4844 for Michael
866.617.4269 - Fax
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.
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