The next step is hunting down the best mortgage for that Baltimore home for purchasing or refinancing. An excellent starting point is here: simply give us an idea of the type of loan you want. You will receive bids from multiple Baltimore lenders that will compete to provide a loan at the lowest rate, matching you with nearly 59 Baltimore mortgage lenders. Your mortgage may be for a new home, refinancing or perhaps a home equity loan - in any case, the best way to start is to see what everybody offers.

How much of a Mortgage?

Mortgage affordability is important to the bank, but crucial for you. As of 2005, the average Baltimore mortgage payment was $1,080 which will give you an idea of what you can expect even with historically low rates. Our mortgage calculator will help you plug in the critical components so that you can determine how large a home loan is reasonable for your Baltimore home.

Baltimore is a major city in Maryland with no shortage of reputable mortgage lending institutions. These include financial houses working with us such as: Carteret Mortgage Corp, Charter Funding, Fidelity Home Mortgage, Advance America Property & Finance, Everything Mortgages, LLC, American Home Lending, Colonial Mortgage Group L.L.C., Everything Mortgages, LLC.Fidelity Home Mortgage.Carteret Mortgage Corporation.

Baltimore Mortgage & Real Estate Market

In 2006 Baltimore housing sales were at an all time high; down recently but leveling off. As of 2005, the median home value in Baltimore was $103,400. This number is big in comparison to the median home value back in 2000 of $69,100. Baltimore has a solid home ownership base with 294,262 houses and apartments and 42% of those are occupied by their owners. Despite the current market, historically Baltimore has been a city where people move, buy and stay - with 52% of homeowners currently paying off a mortgage. About 15% of the city's current homeowners are carrying a second mortgage or home equity loan.

Universal Mortgage & Finance
3158 Braverton Street Edgewater, MD	Phone: 888-449-4472 x3019 Ask for: Wolfe Robert
Special Mortgage Programs
Universal Mortgage & Finance, Inc. dedicated to providing you with the best products that are backed by a staff dedicated to complete customer satisfaction. We are a mortgage banker offering a wide variety of products including FHA, VA, conventional financing & interest only options. Call Robert Wolfe 888-449-4472 x3019 email rwolfe@umafi.com.
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Housing	Baltimore, MD	United States
Median Home Cost	$334,700	$217,200
Homes Rented	42.61%	21.45%
Home Appreciation	19.60%	9.80%
Homes Owned	43.28%	64.07%

Location	Population	Median Family Income (2005)
Aspen Hill	50,228	$63,340
Baltimore	651,154	$30,078
Bel Air South	39,711	$62,064
Bethesda	55,277	$99,102
Bowie	50,269	$76,778
Catonsville	39,820	$53,061

Category	Value
First Mortgage Only	52%
2nd Mortgage or Home Equity	15%
Homes With No Mortgage	32%
Second Mortgage Only	9%
Home Equity Loan Only	6%

Mortgage Type	Today	Last Week	Change
30 yr fixed	6.03	6.24	0.035%
15 yr fixed	5.47	5.72	0.046%
5/1 ARM	5.34	5.43	0.017%
3/1 ARM	5.48	5.42	0.011%

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