Ability Mortgage Group has been assisting home buyers in Maryland for over 18 years. Locally owned and operated, located on the Eastern Shore in Queenstown, MD. We serve clients throughout the great state of Maryland. Our mission is to provide the best in business solutions and "My Pleasure" customer service to new home buyers as well as homeowners who are looking to refinance their current home.
At Ability Mortgage Group we have access to hundreds of banks with multiple product lines which we offer to our clients at competitive rates. We navigate the complex details of each of our clients' needs and offer the mortgage products best suited for each individual mortgage scenario. Why choose Ability Mortgage Group among the other Maryland mortgage lenders out there you ask?
We are a team of Ability Mortgage Group has been assisting home buyers in Maryland for over a decade. Locally owned and operated, we are located on the Eastern Shore in Queenstown, MD and serve clients throughout Maryland.
At Ability Mortgage Group we have access to hundreds of banks with multiple product lines which we offer to our clients at competitive rates. We navigate the complex details of each of our clients' needs and offer the mortgage products best suited for each individual mortgage scenario. Why choose Ability Mortgage Group among the other Maryland mortgage lenders out there you ask?
We are a team of Ability Mortgage Group has been assisting home buyers in Maryland for over a decade. Locally owned and operated, we are located on the Eastern Shore in Queenstown, MD and serve clients throughout Maryland.
Services
My name is Peter Dellane.
I enjoy working with borrowers and am passionate about helping people in Maryland purchase a home or refinance their current property.
As a Mortgage Broker I have the ability to obtain mortgages from major banks at wholesale rates which allows me to pass the savings on to my borrowers.
Once we settle on the right mortgage I then ensure a smooth lending process by providing a thorough list of needed documents and items.
Having this information provided upfront at the beginning of the lending process enables us to eliminate surprises, and you can count on your lending file getting to close in a timely manner.
I enjoy working with borrowers and am passionate about helping people in Maryland purchase a home or refinance their current property.
As a Mortgage Broker I have the ability to obtain mortgages from major banks at wholesale rates which allows me to pass the savings on to my borrowers.
Once we settle on the right mortgage I then ensure a smooth lending process by providing a thorough list of needed documents and items.
Having this information provided upfront at the beginning of the lending process enables us to eliminate surprises, and you can count on your lending file getting to close in a timely manner.
The purpose of a VA Loan is to provide long term financing to Veterans in all divisions of the military.
National government-certified lenders are allowed to issue V.A loans, with the assurance of the U.S Veterans Administration.
Keep in mind that VA Loans require no down payment and are quite easier to qualify for than conventional loans.
Just like us, national companies compete with us in providing VA loans.
Also, there are loads of other companies (those with national relationships with the military) that cater to both active and retired military personnel.
National government-certified lenders are allowed to issue V.A loans, with the assurance of the U.S Veterans Administration.
Keep in mind that VA Loans require no down payment and are quite easier to qualify for than conventional loans.
Just like us, national companies compete with us in providing VA loans.
Also, there are loads of other companies (those with national relationships with the military) that cater to both active and retired military personnel.
Essentially, the USDA Guaranteed Loan is a USDA-supported mortgage.
This is where money is loaned by private lending organizations (approved by USDA) such as mortgage companies and banks.
The USDA then insures the loan when it is closed.
Two type of USDA Loan programs exist: Guaranteed and Direct - each with different rules and conditions.
The USDA Guaranteed Loan doesn't have a limit.
On the other hand, the USDA Direct Loan has a set limit.
The USDA Guaranteed Loan has the reputation of being the most common Rural Housing Loan.
This is where money is loaned by private lending organizations (approved by USDA) such as mortgage companies and banks.
The USDA then insures the loan when it is closed.
Two type of USDA Loan programs exist: Guaranteed and Direct - each with different rules and conditions.
The USDA Guaranteed Loan doesn't have a limit.
On the other hand, the USDA Direct Loan has a set limit.
The USDA Guaranteed Loan has the reputation of being the most common Rural Housing Loan.
Jumbo loans provide loan amounts that are higher than the conforming loan limit set by Fannie Mae and Freddie Mac is $424,100 for single-family residences in most places.
This is applicable in most areas.
However, regions considered as high-cost markets are an exception with a limit of $636,150.
High-cost areas are typically large urban centres where the population is high and there is increased demand for housing.
Jumbo mortgage loans are available for principal residences, second or vacation houses, and investment properties.
This is applicable in most areas.
However, regions considered as high-cost markets are an exception with a limit of $636,150.
High-cost areas are typically large urban centres where the population is high and there is increased demand for housing.
Jumbo mortgage loans are available for principal residences, second or vacation houses, and investment properties.
Cash out refinancing or Refi is the process of replacing an existing loan with a new loan that has better terms.
This allows the borrower to get some money that he or she can spend on debt consolidation, home improvements and to meet other financial obligations.
Your home should have accumulated equity over time to benefit from a cash-out refinance.
Homeowners use a conventional refinance loan to replace an existing mortgage with an equal amount.
With every mortgage payment made, your property's equity rises as your mortgage balance reduces.
This allows the borrower to get some money that he or she can spend on debt consolidation, home improvements and to meet other financial obligations.
Your home should have accumulated equity over time to benefit from a cash-out refinance.
Homeowners use a conventional refinance loan to replace an existing mortgage with an equal amount.
With every mortgage payment made, your property's equity rises as your mortgage balance reduces.
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