Mortgage Equity Partners | Maryland Branch
Home Loans, Mortgages, Refinance, Home Equity Loans
Understanding home loan basics Do you know what a mortgage is? There are a lot of moving parts when it comes to getting a Maryland home loan, but do you really know what each term means and how it impacts you as a homebuyer? Understanding the basic terms in advance can make the process less stressful and help you feel …
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What is the benefit of down payment assistance? DPA is one of the best tools homeowners have in today's market to make homeownership more affordable for Maryland Residents. These programs provide a possible solution to help homebuyers who need financial support. With a shortage of affordable housing across the …
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What is a home appraisal? A home appraisal is an objective opinion of the home’s value performed by a licensed professional. Since the appraisal is related to the home value and loan amount, it can impact your loan's down payment and interest rate. An appraisal that comes in too low can cause the transaction to be …
What is mortgage insurance? Mortgage insurance, or MI, gives eligible Maryland homebuyers the flexibility of making a smaller down payment by lowering the risk to the lender originating the loan. Without mortgage insurance protection, lenders normally require a borrower to make a down payment of at least 20% of the …
How to beat the closing cost doldrums Are you in the final stretch of buying your first Maryland home, only to be surprised by unexpected closing costs? If you've been diligently saving for your down payment, additional expenses like closing costs can take a big bite out of your budget. Imagine you've managed to set …
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Is a bridge loan a good way to buy a home? A bridge loan is a financing option that allows you to use the equity of your current Maryland home as a source of funding for a new home. A bridge loan is a short-term loan used as a financial bridge between selling your current home and purchasing a new one. Bridge loans …
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