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Loan Options

Residential Mortgage Options in Severna Park MD

Primary Residential Mortgage, Inc. offers a wide range of loan options to Texas borrowers in Severna Park and surrounding areas at competitive mortgage rates. We specialize in 30-year and 15-year fixed mortgages, adjustable-rate mortgages, and unique programs like manufactured housing loans and 2/1 buy-down mortgages.

We also assist homebuyers with the following government-backed mortgage options:

Jumbo Loans Click to open answer

These loans have higher loan limits that help you purchase high-value property. Low down payments are possible. Find Your Loan Originator

Pre-Qualification Click to open answer

The home buying process becomes easier when the buyer is ready for all possible outcomes. Mortgage pre-qualification is important because it lets clients know how much they can borrow from a lender. As a result, they can prepare a budget and set realistic expectations for their future residential property.  Talk to one of our local specialists in our Severna Park MD branch about getting pre-qualified for a home loan.

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Low Credit Click to open answer

Financial mistakes happen. These may be the result of a personal crisis, a job loss, medical issues, or divorce, among others. Our loan officers provide second-chance mortgages. These help Severna Park MD area clients with a low credit score get up on their feet again and make homeownership a reality.

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Home Loan Click to open answer

Residents of Severna Park MD and surrounding areas experience different personal circumstances and financial situations. Our loan officers offer a wide variety of home loans to match each client’s unique needs and preferences. We take a personal approach to the mortgage process, enabling us to find the most suitable home loan for our clients.

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Refinance Click to open answer

Our refinance option in Severna Park MD and surrounding areas enables local homeowners to get a new mortgage that replaces their original loan. Refinancing enables borrowers to the benefit of better interest terms and rates than they initially had. It is ideal for people who need to lower their monthly mortgage payments or who want to pay less interest over time.

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New Construction Click to open answer

Homebuilders and prospective owners apply for new construction loans for newly built homes in Severna Park MD. These loans are generally short-term, with an average of one year to repay. In addition, they come at variable rates that move according to the prime rates. Because they come with a bigger risk than other types of loans, they represent only a small percentage of home loans.

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Reverse Mortgage Click to open answer

A Home Equity Conversion Mortgage for Purchase, commonly known as reverse mortgage loan, is ideal for seniors in Severna Park MD and surrounding areas. With this program, homeowners who are 62 years old and older can convert part of their property’s equity into cash. It helps retirees earn from their home’s accumulated value to pay for basic living expenses and health care.

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First Time Homebuyer Click to open answer

First-time home buyers in Severna Park MD and surrounding areas may think that the mortgage process is long and daunting. But, it doesn’t have to be. Our loan officers expertly assist clients who have never owned a home or who have not been an owner of a primary residence for a minimum of three years leading to the purchase.

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Conventional Loans Click to open answer

Conventional loans offer affordable rates and flexible down payment options.  Find Your Loan Originator

FHA Loans Click to open answer

FHA loans come with low down payment options and lenient credit requirements. These federally insured loans are designed to help more people achieve their homeownership goals. Find Your Loan Originator

VA Loans Click to open answer

VA loans help make homeownership more attainable for veterans and military service members. These loans are federally insured and available with no down payment.* Plus, they don’t require private mortgage insurance.

*Closing costs and fees may still apply.

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USDA Loans Click to open answer

USDA loans are government-insured loans that help people purchase homes in rural areas. These loans are often available with low or no down payment.*

*Closing costs and fees may still apply.

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