Harford County, Maryland
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1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Harford Real Estate Market Update
Harford County, Maryland's real estate market is experiencing a modest upward trend, with the median listing home price reaching $410,000 as of October 2024, reflecting a 2.5% increase year-over-year. Homes in the county typically sell for around $390,000, indicating a competitive market where properties are often sold at or near the asking price.
The county is home to several prominent cities, including Bel Air, Aberdeen, and Havre de Grace. Bel Air, the county seat, has a population of approximately 10,000 residents and is known for its vibrant community and historic charm. Aberdeen, with a population of around 15,000, is recognized for its proximity to the Aberdeen Proving Ground, a major U.S. Army facility. Havre de Grace, a picturesque city with about 13,000 residents, is situated at the mouth of the Susquehanna River and offers scenic waterfront views.
Living in Harford County offers a mix of suburban and rural experiences. The county features lush landscapes, with opportunities for agriculture and farming, alongside suburban neighborhoods that provide a more residential feel. Top industries in the area include defense, healthcare, and education, which attract a diverse workforce. The county's appealing mix of rural charm and suburban convenience, along with its strong community ties and proximity to major cities like Baltimore, makes it an attractive destination for those seeking a balanced lifestyle.
2025 Mortgage Loan Limits:
Harford County, Maryland
1 Unit
$806,500
Conforming Loans
$731,400
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$936,300
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$1,131,800
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,406,550
FHA Loans
Questions About Refinancing in
Harford County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
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