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Mortgage Refinancing Help
: Business: Financial Services: Mortgages: Regional: United States
: Maryland (23)
 Don't escrow taxes and insurance. Unless you're undisciplined, avoid putting monies in escrow to cover your property taxes and homeowner's insurance. There's usually a fee for this privilege that runs under 1 percent of the loan amount, in states where it's allowed. "Paying the fee will allow you to time your tax and insurance payments to your benefit," says Bank South's Steve Austin. For instance, you may be able to prepay taxes that are due next year and use those payments to reduce your current tax bill. Moreover, you get to hang onto your money longer. That may be an advantage when interest-bearing accounts start paying more.
 See also:
 Affinity Mortgage Corp. »
Provides residential mortgages for Bel Air and all of Maryland and Pennsylvania.
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 Chesapeake Mortgage »
Provides refinancing, construction loans, debt consolidation, second mortgages and commercial loans.
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 Atlantic Financial, Inc »
Provides residential mortgage financing including home improvement from Beltsville.
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 Accessibility Mortgage »
Provides residential mortgage financing for Baltimore and all of Maryland.
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 First Central Mortgage Company »
Provides full service mortgage programs. Located in Hampstead.
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 AMC Mortgage Corporation »
Specializing in residential and commercial mortgages from Fallston.
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 Primary Residential Mortgage »
Offers mortgage and refinancing services to local Maryland, Pennsylvania, Delaware, New Jersey and Virginia residents.
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 Consolidated Mortgage Corporation »
Provides a variety of loan types from Stevensville.
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 Bayside Mortgage Services »
Provides first time home loans, refinancing, and VA loans in Maryland, Virginia, Delaware, and Washington D.C.
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 First Republic Mortgage »
Full service mortgage lender/broker in Maryland and Delaware.
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 Washington Metro's Builders Realty Council »
Provides resources for home buyers in Maryland and the surrounding states.
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 Fidelity First Mortgage »
Specializing in refinancing, debt consolidation, cash out, home improvement, and 125% over equity loans.
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 Maryland Lending »
Providing mortgages home loans and refinance mortgage information and rate quotes.
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 Professional Mortgage Services, Inc. »
Mortgage broker offers real estate financing to Ocean City, Berlin, Ocean Pines and Salisbury, Maryland.
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 Beacon Mortgage »
Provides residential mortgage financing for Maryland, Virginia, and the District of Columbia.
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 Professional Mortgage Bankers »
A Pikesville, Maryland mortgage broker offering loan services including refinancing, debt consolidation, and second mortgages.
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 Federal Fidelity Mortgage »
Baltimore based mortgage company for first-time home loans, investment properties, and home equity loans.
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 Gold Standard Financial »
Maryland home mortgages, home equity loans, refinancing
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 First Home Mortgage »
Serving the mid-Atlantic region with attractive mortgage loans, refinancing programs, home equity lines and new construction loans.
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 1st Presidential Mortgage »
Provides residential mortgage financing for Maryland and across the nation from Bethesda.
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 Ability Mortgage Group »
Queenstown Maryland based mortgage company that offers several types of home loans.
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 Financial Security Consultants »
Provides mortgage services to credit union members and their families. Lutherville.
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 1st Atlantic Mortgage, LLC »
Mortgage company providing all types of home financing. Licensed in Maryland, Virginia, and Florida.
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 Be Patient. Processing all of the paperwork that's required for a new loan takes time. Be patient while your loan moves through the system. Protect your credit score by paying your bills and making your mortgage payments on time and not taking on any more new debt than you absolutely have to.
Refinancing can be the right move to improve your financial situation, but be careful. Making the wrong move can put you much worse off. Smart and simple choices will go a long way toward keeping you financially secure.
If your monthly payment on a fixed-rate loan includes escrow amounts for taxes and insurance, your payment each month could change over time due to changes in property taxes, insurance, or community association fees.
If you know that you will be moving in 3 to 5 years, you might want to consider refinancing to a 3 or 5 year ARM (adjustable rate mortgage). These loans typically have a much lower rate that a traditional fixed rate loan such as a 30 year fixed, but they do have a fixed rate for the first 3 or 5 years of the loan. This will enable you to benefit from the lower rate, but you won't ever have to worry about the risk of a rate adjustment because you will be selling the home before the fixed-rate period ends.
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