Should I Refinance My Mortgage in Towson

July 29th, 2020

Should I refinance my mortgage in Towson? With rates as low as they are right now (please note, the date of this post is in July 2020, and mortgage interest rates can change daily,)  many people who have mortgages at higher interest rates are considering whether they should refinance their mortgage. But should you? The [...]

What Factors Can Affect My Mortgage Interest Rate?

January 30th, 2015

What factors can affect my mortgage interest rate? Did you know if you called to get a mortgage, and your best friend called the same day, you could potentially get two different mortgage rates? How could this happen? Why? The Consumer Financial Protection Bureau's website,, which is a government-run website, put together a list of [...]

Beware of Deceptive Mortgage Advertising

September 11th, 2014

Beware of Deceptive Mortgage Advertising Another Mortgage Minute with Dan Murtagh! Thank you, Dan! "With all of the regulation in the mortgage industry these days I am fascinated at some of the deceptive advertising that I still hear on the radio and on the internet. If you are shopping for a mortgage and you see a [...]

Could Credit Scores Rise with New FICO Model?

August 22nd, 2014

Could credit scores rise with the new FICO model? According to the New York Times, the new FICO model will NOT weigh medical debts as heavily as it has in the past. Apparently medical debts account for almost HALF of all unpaid collections on credit reports. Also new? FICO scores will also ignore any collections that have [...]

Considering an ARM Loan?

July 2nd, 2014

Considering an ARM? Why you should or shouldn’t consider an ARM (Adjustable Rate Mortgage.) Adjustable rate mortgages (ARMs) are perfect for some borrowers because ARMs provide a low interest rate for an initial payment period, making the initial monthly payments less than those a fixed-rate mortgage usually offers. Adjustable rate mortgages acquired a bad reputation [...]

Why You Should or Shouldn’t Consider FHA

May 29th, 2014

FHA loans can be a good loan program for many buyers; however it is not the only low down payment option. Conventional 5% down financing is available, and in most cases, the mortgage insurance is much less than FHA -- in some cases it may be 50% less! So while FHA may offer a lower [...]

Introducing Dan Murtaugh’s Mortgage Minutes

May 21st, 2014

I am pleased to introduce Dan Murtaugh, of Sandy Spring Bank, who will be writing Mortgage Minutes for us on a regular basis. Dan has been in mortgage banking for over 17 years, and is known for his professionalism and advice. He is a graduate of St. Mary's College of Maryland, with a degree in Economics. [...]

3.875 Interest Rate?!

August 19th, 2011

I received an email this morning from one of the lenders that I would recommend, and he said FHA and VA loans started the day at 3.875%! He said: So far this week, mortgage rates have improved as investors continue to worry about the health of the economy and anticipate a moderate recovery. Treasury prices [...]

Should I Wait for House Prices to Drop?

April 3rd, 2011

A question that many buyers have been asking is whether they should buy a house now, or wait until prices drop. Guest blogger, George Kennedy, of Wells Fargo Home Mortgage, offers some thoughts in his post. Should I wait for prices to drop? The question should not be whether or not house prices will fall, [...]

What Does a Loan Officer Need for My Loan Application?

October 7th, 2010

What do I need for loan application? ...And why is this additional information being requested of me? What are the underwriters looking for? Thank you to J. Christopher Kennedy of 1st Mariner Mortgage in Downtown Baltimore for some answers to mysteries of loan application and approval process. Why are you asking this? Too often buyers [...]

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