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Home Buying Advice from Mortgage Companies in Frederick MD

The Maryland housing market is known for its competitive regions. But few places are currently as hot as Frederick. Currently, the hottest market in the state, getting a home in Frederick can be tough. But with some great advice from mortgage companies in Frederick MD, you can stand a better chance of securing the home you want.

The Current Situation

The rapid growth of Frederick has made it a prime destination for new home buyers in Maryland. A rapidly-developed downtown, proximity to Baltimore and DC, as well larger plots of land than other nearby suburbs make it an attractive area to live, work, and raise a family. The pandemic surge of low-interest rates has only served to make the area more competitive. Currently, the average home only lasts on the market for 6.8 days, and is selling 61.4% above market value. Bidding wars, short buying periods, and more are making what’s already a stressful process all the more frustrating. 

Steps You Can Take

There are several steps you can take to better prepare yourself for a competitive market, straight from mortgage companies in Fredrick straight to you.

Get Your Finances in Order

First, ensure all of your finances are in order. Any type of missing document, slow credit report, etc. can cause a general slowdown in the process and cause the seller to go in another direction. Efficiency is key, so ensure that you’re not shopping for homes until your finances are all in order. 

Adjust Your Expectations

Remember what you’re buying for. If it’s the area, you may have to make concessions to find a home that works at your price range. Make a list of your wants, and needs. Have a discussion with your agent or partner about where you’re willing to make sacrifices and where you’re not willing to budge. Having flexibility may make you a more attractive buyer and help you score a home more easily. 

Find an Outstanding Agent

Not sure how to even start navigating the market? Well, you should find an outstanding agent to help you through it. Local real estate agents will have inside knowledge of the market and will be able to take your home buying needs and steer you in the right direction. Additionally, many real estate agents have relationships with mortgage companies in Frederick MD, and will help you facilitate the loan process quickly. 

Get Pre-Approved

One of the most important steps you can take is getting pre-approved. Pre-approval helps fast-track the loan approval process, having you submit the necessary documentation and allowing a mortgage broker or lender to assess your finances and estimate a loan amount. You will then be given a Pre-Approval Letter, which essentially works as a vote of confidence that you can show sellers so they know you will likely be able to afford a loan for their home. 

Work With One of the Top Mortgage Companies in Frederick MD

If you want to get a great home at a great rate, Federal Hill Mortgage is here for you. Our team works to help families throughout Frederick finance their dream homes. With an expert team and lightning-quick results, we can help you stay ahead in a competitive market. Apply today to get started.

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Mortgage Lenders in State College PA


Selecting the mortgage lender you want to work with is a crucial decision you’ll make for your financial path forward. When surveying mortgage lenders in State College PA, what should you be looking for? What are the aspects that you want to stand out in the right mortgage lender for you and your financial goals? Let’s take a look.

Diversity of Mortgage Options

One of the most important factors to consider is the diversity of the loan options on offer from the company. It’s important to select a company that offers diverse mortgage options that can match a variety of buying needs. This means offering conventional loans such as 30-year fixed-rates, 15-year fixed-rates, and adjustable-rate mortgages. Additionally, a suite of government-backed loans is idea, including FHA, VA, and USDA loans. Having more options to choose from will give you more flexibility when it comes to items such as downpayment, loan term, interest rate, and more.

Check Their Loan Requirements

When searching for for the best mortgage lenders in PA, a consideration should always be loan requirements. Lenders may have different standards for required downpayment, minimum credit score for different loans, acceptable debt-to-income ratios, and more factors. While requirements can vary loan by loan, having a discussion about the base standards for the lending firm will help give you a more solid idea of the bar you need to hit.

Inquire About Lending Fees from Mortgage Lenders in State College PA

Low mortgage rates can be a tantalizing offer. However, what you see out in the media may not be representative of what’s on offer to you. Based off your financial standing, rates may be higher than for borrowers with better credit scores or incomes. Additionally, it’s always important to have a transparent breakdown of a lenders fees and rates. Finding the best mortgage lenders in PA may not seem idea when they have inflated lendinging fees that cause the price of your mortgage application to spike. Always request an itemized list of fees for each service ahead of time.

Consider the Pros and Cons of Big Teams vs. Small

Many lenders have established names you’ve heard of before, including multinational banking organizations or popular online lending services. However, when it comes to lending, your experience will only go as smoothly as the individual handling your loan. Don’t simply ascribe the value of a big name to the individual lender. Small teams, on the other hand, have a track record more representative of their overall service as seen in reviews. They also typically provide more collaboration between team members and spend time building relationships with you.

At Federal Hill Mortgage, we’ve leveraged our smaller team to craft big results. As the top-ranked loan originators on the East Coast, we have the knowledge and expertise to help you make the most of mortgage lenders in State College PA. Whether you want an in-house loan or brokerage services, we’re here to meet the challenge. Apply today to get started.