Mortgage lender in Annapolis Maryland for VA, FHA, USDA, Jumbo and Conventional loans
Ability Mortgage Group has been labelled one of the best mortgage lenders in Annapolis Maryland because we strive to offer some of the lowest rate and fees available on the wholesale market. We have a multiple of loan options:
- VA loans
- FHA loans
- Jumbo loans
- USDA loans
- Refinance mortgages.
- Conventional loans
Passion about our job and doing it right is what Ability Mortgage Group is all about. It is about the customer and their expectation of us and their overall experience with us that makes us a leader. We appreciate your business and look forward to developing customers for life!
Annapolis Mortgage Broker
Transparency of operations is a very essential aspect of an excellent mortgage lender. Don’t choose a lending company who is not transparent enough and doesn’t keep you informed every step of the way. Low quality mortgage brokers are more likely to charge you higher interests just to achieve his monthly paycheck target. So full transparency is what Ability Mortgage Group is all about.
We Are Good Listeners: Last but not the least; we are mortgage providers that listens to you. We make sure to protect your interests. At Ability Mortgage Group, you are the top priority and therefore we make sure to cater to your budget and needs.
Mortgage lenders in Annapolis MD
Replacing your current mortgage with a new on different terms is known as mortgage refinance. How does your lender know that you qualify? They do this by calculating your loan-to-value ratio by dividing the balance owing on your mortgage and any other debts secured by your property into the current value of your property. You are allowed to refinance if your loan-to-value ratio is less than 80%. Your monthly income and debt payments are also checked by the lender. Copies of documents you may be asked to provide include; your mortgage statement, notice of assessment or a recent pay stub, last year’s tax returns, recent asset statements for your investments and savings accounts; and a recent property tax bill.
VA loan in Annapolis Maryland
The purpose of a VA Loan is to provide long term financing to Veterans in all divisions of the military. National government-certified lenders are allowed to issue V.A loans, with the assurance of the U.S Veterans Administration. Keep in mind that VA Loans require no down payment and are quite easier to qualify for than conventional loans.
We will gladly help you determine whether you are eligible. Generally, a significant number of current and former servicemen qualify. This includes:
- Reservists
- National Guard members
- Qualified surviving spouses
- Active and retired military members
- Veterans
FHA loan in Annapolis Maryland
An FHA insured loan is a US Federal Housing Administration mortgage insurance supported mortgage loan issued by an FHA-approved lender. They’re basically a type of federal assistance. Historically, these loans have enabled lower-income Americans to borrow money to buy a home that under normal circumstances would have been too expensive for them. FHA loans are designed for new home owners rather than real estate investors. This way, they differ from regular loans in that the home must be occupied by the owner for at least a year. Normally, loans with lower down-payments involve more risk to the lender. For this reason, the house buyer must pay a two-part mortgage insurance; a one-time bulk payment and a monthly instalment to mitigate the risk
USDA loan in Annapolis Maryland
Two type of USDA Loan programs exist: Guaranteed and Direct – each with different rules and conditions. The USDA Guaranteed Loan doesn’t have a limit. On the other hand, the USDA Direct Loan has a set limit.
Essentially, the USDA Guaranteed Loan is a USDA-supported mortgage. This is where money is loaned by private lending organizations (approved by USDA) such as mortgage companies and banks. The USDA then insures the loan when it is closed.
The USDA Guaranteed Loan has the reputation of being the most common Rural Housing Loan. Moreover, it’s quite easy to qualify for. Our Rural Housing Loan piece looks at the advantages as well as what it takes to qualify.
Jumbo loan Annapolis Maryland
Jumbo loans provide loan amounts that are higher than the conforming loan limit set by Fannie Mae and Freddie Mac is $424,100 for single-family residences in most places.. This is applicable in most areas. However, regions considered as high-cost markets are an exception with a limit of $636,150. High-cost areas are typically large urban centres where the population is high and there is increased demand for housing.
The applicant can acquire Jumbo mortgages for primary residences, second or action homes, and investment properties. You can choose either adjustable rate loans or fixed-rate, among other attractive terms.
Compared to regular mortgages, Jumbo loan have more stringent underwriting rules, have higher interests, and require larger down payments.
Mortgage lender near Annapolis Maryland
Purchasing a house is one of the biggest investments and commitments you will make in your entire lifetime. It is important to find the best possible mortgage broker. The wrong one could cost you thousands of dollars. Contact our office and let one of our experienced team members help you thru the application process. Our goal is to get you approved quickly, stress free and get the best rate possible.
Neighborhoods In Annapolis MD
Admiral Heights
Arnold
Arundel on the Bay
Cape St. Claire
Church Circle and St. Anne’s Church
Crofton
Crownsville
Eastport
Edgewater
Highland Beach
Gambrills
Hillsmere Shores
Londontowne
Main Street, City Dock and City Markethouse on waterfront
Millersville
Naval Academy
Odenton
Parole
Riva
St. Margaret’s
State Circle and Maryland Avenue
West Annapolis
West Street / Arts District
Source Wikipedia: Annapolis