Odenton's housing market offers a diverse range of options, from affordable starter homes to luxury properties. The median home price of $400,000 provides a benchmark for borrowers to consider. However, prices can vary significantly depending on the neighborhood, property type, and amenities. For example, homes in the Odenton Town Center area tend to be more expensive, while homes in surrounding neighborhoods may offer more affordable options.

Some popular neighborhoods in Odenton include:

• Odenton Town Center: New developments, shops, and restaurants
• Crofton: A suburban community with a mix of single-family homes and condos
• Gambrills: A family-friendly area with a strong sense of community
• Odenton Heights: Historic homes with charming architecture
• Waugh Chapel: Newer constructions with modern amenities

NMHL's loan officers have extensive knowledge of the Odenton market and can help you find the best neighborhood for your needs and budget.

Property taxes in Odenton average approximately 1.05% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $400,000 home, you can expect to pay around $4,200 per year in property taxes. It's essential to consider property taxes when calculating your overall housing costs and mortgage affordability.

Maryland also offers a homestead tax credit program, which can help reduce property taxes for eligible homeowners. Our loan officers can help you understand how property taxes affect your mortgage and explore options for minimizing your tax liability.

Odenton is served by the Anne Arundel County Public Schools system, which includes several highly-rated schools in the area. The Odenton area is zoned for Odenton Elementary School, which has received excellent reviews from parents and students. The district's strong schools can have a positive impact on home values, making it an attractive option for families.

Some of the top schools in the area include:

• Odenton Elementary School
• Odenton Middle School
• Crofton High School

NMHL's loan officers can help you understand how school districts affect home prices and find a home that meets your family's needs.

Maryland offers several programs to support first-time homebuyers, including the Maryland Mortgage Credit Certificate (MCC) program, which provides a federal tax credit for mortgage interest paid. Additionally, the Maryland HomeReady program offers down payment assistance and flexible underwriting guidelines.

Some of the benefits of these programs include:

• Lower down payment requirements
• Flexible credit score requirements
• Reduced mortgage insurance premiums

NMHL can help you explore these options and determine which programs you may be eligible for. Our loan officers have extensive knowledge of Maryland's first-time homebuyer programs and can guide you through the process.

At NMHL, we offer a range of mortgage programs to suit the needs of Odenton borrowers, including:

• FHA loans: Low down payment requirements and flexible credit score guidelines
• VA loans: Zero down payment options for eligible veterans
• Conventional loans: Competitive interest rates and terms
• Jumbo loans: For borrowers purchasing higher-priced homes

Our loan officers can help you find the best program for your situation and guide you through the application process. Contact NMHL to learn more about our mortgage programs and get pre-approved today.