Somerset Mortgage Lenders Mortgage Refinance, Reverse Mortage, Home Loan
  Reverse Mortgage Divorce Buyouts Debt Consolidation Home Improvement Purchase Refinance
Search Somerset:
Print this page    E-mail this page

MD Mortgage Refinance in Maryland

We make it easy to get the lowest mortgage refinance interest rate in MD.

Our loan specialists can customize a loan that is perfect for your needs. In no time at all, MD residents can be on the way to a lower interest rate, a lower monthly payment, or switching from an adjustable rate mortgage to a fixed rate mortgage.

When Should I Refinance?

The best time to refinance is when interest rates in Maryland drop below the rate of your current mortgage.  With a lower interest rate, you'll save money on your mortgage payment every month.  Be sure to read our article titled Reasons to Refinance Now.

Turn Your Adjustable Rate into a Fixed Rate

With adjustable rates on the rise MD residents can benefit greatly from refinancing your home for a low fixed rate.  These benefits include a lower monthly mortgage payment, and the security of knowing your mortgage payment won't increase.

Cash-Out Refinancing

Using the equity in your home, you can refinance your mortgage for a higher amount than your current principal balance and receive the extra funds as cash.  You can use this money however you would like, including, remodeling your home, paying off high-interest rate credit cards, paying off student loans, or consolidating all your debt.  How much cash out you can receive by refinancing depends largely upon the principal balance remaining on your mortgage and the amount of equity in your home.

Eliminate PMI

Private Mortgage Insurance is usually required if your downpayment on your home was less than 20 percent.  If your home equity has increased since your purchase, you may have enough equity to elimate that PMI payment by refinancing your mortgage.

Save Thousands in Interest

When you refinance your home you can decide to switch your mortgage to a shorter term, such as 10, 15, or 20 years.  Depending on how much lower the refinance rate is, you will likely pay more per month for this shorter term home loan.  However, in the long-term you are saving thousands in interest.  And because more of your monthly mortgage payment goes towards the principal, your home equity will increase much quicker.

Mortgage Refinance Calculators

Mortgage Payment Calculator
Refinance Savings Calculator
Refinance APR Calculator
Refinance Points Calculator 

Refinance Articles

Reasons to Refinance Now
Beat the Subprime Mortgage Crisis 
Understanding Your Credit
Your Interest Rate

" Traditional banks make their customer fit the loan; at Somerset Mortgage Lenders we make our loan fit the customer. "
Local mortgage refinance directory for MD :
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Abell Accident Andrews Air Force Base Arnold
Aberdeen Accokeek Annapolis Ashton
Aberdeen Proving Ground Adamstown Annapolis Junction Avenue
Abingdon Allen Aquasco

Return to our mortgage refinance page

Bad Credit? click here.

Call for COMPLETE details NOW!

(800) 675-9783

Maryland News
MARYLAND: Man jailed for fatal shooting in Cecil

An Earleville man has been sentenced to 40 years in prison for a fatal shooting.


Application for Main Street Maryland designation rejected

Sykesville will not become a Main Street Maryland-designated community - at least not this time around.


Wrong Number! Job Hotline Was Sex Line

People looking for work by dialing a published phone number for the Maryland Job Service Hotline could end up with something completely different.


Boaters Rescued Near Kent Island

Queen Anne's County emergency officials say an aerial search is in progress on the Chesapeake Bay near Kent Island where a body was reported in the water.


Arundel offers health aid for veterans

Anne Arundel County yesterday became the first local jurisdiction in Maryland to offer free mental health and substance abuse programs to veterans returning from Iraq and Afghanistan.

The $100,000 program, which also offers treatment options for veterans' families, includes a 24-hour hot line, and assessment and treatment services in county facilities or through contracted professionals.

Since October, 578 veterans have returned to Anne Arundel County, more than any other county in the state, according to the Maryland Department of Veterans Affairs. Prince George's County ranked second with 520 veterans, followed by Montgomery County with 327.


Jail strangulation death probe expands

The investigation into the strangulation of a man held in solitary confinement at a Maryland jail has widened beyond the seven correctional officers who had access to him, a state government source familiar ...


Eastern Shore: Wetlands license approved for broadband

The Maryland Board of Public Works has approved a wetlands permit needed for a high-speed Internet project on the Eastern Shore.


Inmate Given Another Life Sentence

A prison inmate already serving a life sentence for murder has been given another life term for stabbing three correctional officers.


MARYLAND: Nominal decline seen in holiday travel

TOWSON - AAA Mid-Atlantic is predicting a only a nominal decline in Fourth of July holiday travel in Maryland despite rising costs.


Triple A: Fewer People To Travel This Holiday

AAA Mid-Atlantic expects fewer Marylanders than last year will be traveling far during the Independence Day weekend.


Maryland is not following suit

Don't expect Maryland to follow Washington, D.C.'s lead in suing CareFirst Inc. over allegedly not meeting its obligations as a charitable organization.


Police killing suspect's jail death ruled homicide

Maryland authorities say the death of a teen in his jail cell after he was charged with killing a police officer has been ruled a homicide.


Unclear If Currie Can Use Campaign Funds For Legal Defense

The Maryland attorney general's office said it doesn't have enough information yet to determine whether a powerful state senator who is under federal investigation can use his campaign funds for his legal ...


Candidates mine for cash in and out of district

History dictates Frank M. Kratovil Jr. doesn't stand a chance in Maryland's 1st Congressional District.


Suspension disparity widens in county schools

The number of black and Hispanic students suspended from county schools has risen, even though administrators have focused attention on eliminating the disparity.


Parties get ready for conventions in separate corners

With the presidential contest now officially a two-man race, state political leaders are shoring up plans for their respective national party conventions later this summer in Denver and Minneapolis.


New laws to take effect Tuesday

Health protections for children, including lead restrictions in toys that sparked trade complaints from the Chinese government, are among new laws taking effect in Maryland.


EDITORIAL: Pitching Maryland: Tourism officials are smart to seek...

EDITORIAL: Pitching Maryland: Tourism officials are smart to seek visitors close to home Jun.


Md. mom uses son's Iraq death to help change law

U.S. Army Spc. Kendell Frederick lost his life while trying to become a citizen of the country he was fighting for. Now, his mother hopes a bill President Bush signed into law Thursday will make sure no other soldier dies the way her son did.

Frederick, a native of Trinidad who moved to the U.S. in 1999, was killed in Iraq in October 2005 when his vehicle was struck by a roadside bomb. He was only in the convoy because he had to go to another base to get a duplicate set of fingerprints made for his U.S. citizenship application.


Man's bribery scheme results in prison time

A bribery scheme involving illegal green cards and state tax abatement ended in the sentencing of a former Pakistani to four years in federal prison this week, federal prosecutors said.


Save time with our easy online mortgage application.
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
 
"Our family would like to thank Somerset Mortgage Lenders for getting us out of foreclosure. Without your help we do not know what would have become of our family. When we first called, we were in Chapter 13 bankruptcy...Not only will we now be able to keep our home, but we'll be able to put ourselves on track financially, thanks to all the efforts of the wonderful people at Somerset. We will be forever grateful to you all." - Scott & Amy
© 2006 Somerset Investors Corp. All rights reserved.
home | about us | Mortgage Blog | contact us | privacy policy | state licensing | search | links | link to us | site map
mortgage calculators | refinance | purchase | fha | reverse mortgage | divorce buyout | debt consolidation
Eqaul Housing Lender Member of the Better Business Bureau (BBB) Member of the National Reverse Mortgage Lenders Association (NRMLA)