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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
Sabillasville Secretary Smithsburg Still Pond
Saint Inigoes Severn Snow Hill Stockton
Saint James Severna Park Solomons Street
Saint Leonard Shady Side Southern MD Facility Suburb Maryland Fac
Saint Marys City Sharpsburg Sparks Glencoe Sudlersville
Saint Michaels Sharptown Sparrows Point Suitland
Salisbury Sherwood Spencerville Sunderland
Sandy Spring Showell Spring Gap Swanton
Savage Silver Spring Stevenson Sykesville
Scotland Simpsonville Stevensville

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Maryland News
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Maryland and nine other states will be auctioning off their pollution to the highest bidder later this month.


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The U.S. Environmental Protection Agency has formally proposed adding a Fort Detrick dump site in Frederick to its list of the nation's most polluted places.


Md. POW Fights for McCain

ST. PAUL, Minn. - Everett Alvarez Jr. was flying a Navy fighter jet at 500 mph toward an enemy naval base on Aug.


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BALTIMORE - A competency hearing for a man accused of drowning his three children has been postponed.


State To Launch Independent Bridge Inspection Probe

Gov. Martin O'Malley is directing state officials to form an independent panel of experts to review Maryland's tunnel and bridge inspection program.


MARYLAND: Former lawmaker pleads guilty to child porn

Federal prosecutors are seeking a sentence of at least three years in prison for a former state legislator who pleaded guilty to a child pornography charge.


Drug co. not liable in crash that killed Isaac Gourdine

Maryland 's highest court has ruled that pharmaceutical maker Eli Lilly and Co. isn't liable to a third party in a fatal crash caused by a diabetic driver who used the company's medication.


O'Malley Issues Pre-Disaster Emergency Declaration

Gov. Martin O'Malley is preparing for Tropical Storm Hanna. He's issued a Limited Emergency Declaration on Thursday in anticipation of the storm's impact on Maryland's Eastern Shore.


State Medevac system focus of legislative hearing

Almost half of the patients flown by helicopter to Maryland trauma centers are released within 24 hours, making some lawmakers wonder whether the state's vaunted Medevac system is overused.


Proposal: Outlaw sex between officials, employees

Maryland state elected officials who have sexual relationships with employees under their supervision would be violating state ethics law, if a county commissioner gets his way.

The ethics law would not apply, however, if the official and the worker were married to each other.

Frederick County Commissioner John Thompson says the proposal is a response to a specific situation, but he won't name the people involved out of consideration for innocent third parties.

Thompson wants the issue included in the county's list of state legislative priorities. But several local lawmakers say they would oppose Thompson's proposal.


MARC Service Delayed During Morning Commute

The Maryland Transit Administration says some Washington-bound MARC trains were disrupted during the morning commute after a person was found unconscious near a set of train tracks.


MD--DNA Samples-Crime

Black lawmakers and civil rights activists are criticizing Gov. Martin O'Malley's administration of failing to implement compromises in a law that expands when police can collect DNA samples from crime ...


MARYLAND: Fish kill reported in South River cove

Maryland officials are investigating a fish kill in an enclosed cove off South River, near Annapolis.


Ex-Lawmaker Faces Child Porn Charge

Former Maryland state lawmaker Robert McKee , 59, has been charged by the U.S. attorney's office with one count of possessing child pornography.


Gilchrest expected to endorse Kratovil

ANNAPOLIS - The Democrat running for Congress in Maryland's First District is expected today to receive the endorsement of the Republican incumbent he is hoping to replace.


ABC 7 News - Attorney: Driver 'Devastated' by Bay Bridge Crash

An attorney says his 19-year-old client feels "just awful" and is "devastated" about the accident on the Bay Bridge that killed a tractor trailer driver Aug.


Marylanders Have Highest Income

Maryland has the nation's highest median household income. According to newly released census figures, the average Maryland household brought in $68,080 last year.


ABC 7 News - Lanes Re-Open on Bay Bridge for Labor Day Traffic

The Maryland Transportation Authority has completed repairs to strengthen the parapet on the right side of the eastbound span of the Bay Bridge and has reopened the right lane to traffic.


DEL., VA. INCREASES: Drunken driving deaths fall in 32 states, including Maryland

WASHINGTON - Drunken driving deaths fell in 32 states in 2007, but the government says the number of alcohol-related fatalities among motorcycle riders climbed in half the states last year.


Drunken-driving deaths decrease 5.3 percent in Md.

Maryland was one of 32 states to post decreases last year in the number of driving fatalities caused by drunken drivers, according to a report released today by the federal government.


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"Every other company said they could not help us. After speaking to about five companies, we really believed that no one could. Then we called Somerset, and your company proved us and those other companies wrong. We can't thank you enough for all your hard work and effort in getting us a low fixed rate. We can now breathe easier..." - L. Braun
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