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If you're looking for a merry land, go to Maryland.

Maryland mortgage rates tend to be slightly higher when compared to the nationwide average. In Maryland, the average monthly mortgage payment so far in 2010 is $1, 561.00 per month compared to $1, 295.00 for mortgages nationwide. The average home value in Maryland is $280, 200 compared to $167, 500 nationwide. There are about 2, 273, 793 housing units in Maryland of which 69 percent are owner occupied with the rest occupied by renters.

Popular Cities & Towns in Maryland

Some of the more popular cities and towns in Maryland include Baltimore, Bethesda, Annapolis, Columbia, Rockville and Bowie.

Baltimore is the largest city in the state of Maryland with a population of 651, 154 and a median family income in 2005 of $30, 078. The city is the cultural capital of the state and the most popular travel destination. Known as the “Charm City, ” Baltimore is steeped in history and has both an east coast and southern charm.

Annapolis is another popular location in Maryland for people to reside that has plenty of history dating back to the Revolutionary War, when it served as the new nation’s capital. The city has more buildings still standing from that period than any other city in the United States. Annapolis is also known as the home of the United States Naval Academy. Both Baltimore and Annapolis are quite close to Washington D.C., the nation’s current capital.

The three counties of southern Maryland has been growing the faster than counties in the rest of the state. Montgomery County, the state’s most populous county, is projected to experience growth from 855, 000 in 2000 to 946, 000 by 2010.

Cities like Hagerstown and Bowie are among Maryland’s fastest growing population areas. These cities have been growing due to their prime location between other major urban areas like Baltimore, Washington D.C., and Annapolis.


Types of Mortgages in Maryland

The main mortgage types available in Maryland are:

  • 30 year fixed rate mortgage – The interest rate and payments for this type of mortgage are fixed for the entire term of the mortgage. Normally, this type of loan has the highest interest rates.
  • 15 year fixed rate mortgate – Similar to the 30 year fixed rate but with a shorter payment term. The interest rates are lower for the 15 year fixed rate mortgage as compared to the 30 year fixed rate.
  • 5/1 ARM mortgage – An adjustable rate mortgage in which the interest rate is adjusted at certain periods. The amount of adjustment depends on the index that the mortgage tracks. A 5/1 ARM starts with a beginning interest rate that lasts for five years, after which the rate is adjusted annually for the rest of the payment period. Also known as a renegotiable rate and a variable rate mortgage.
  • 3/1 ARM mortgage – Similar to the 5/1 ARM, but the initial interest rate lasts for the first three years of payment, after which the rate is adjusted annually.

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When a mortgage loan originator changes companies how soon is that reflected in the NMLS consumer access website? - Quora

When a loan originator changes from one company to another, the LO completes a specific form and that form is filed with our federal regulator, the good folks that run the Nationwide Mortgage Licensing System:

What are Navy Federal Personal Loans? - Quora

Navy Federal is a specific credit union that offers a broad variety of financial products, including personal loans.
A personal loan is a loan from a bank that is not tied to a specific purpose like an auto loan or a mortgage; often, the bank will just give you money in exchange for your promise to pay it back at an agreed upon rate.
Personal loans usually have a lower interest rate than a credit card, but a higher interest rate than those specific purpose loans (auto, mortgage, etc).  The reason for the higher interest rate is that they are not tied to a valuable assets [the bank will giv…

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