The Annapolis housing market offers a diverse range of properties, from historic homes to modern new constructions. With a median home price of $520,000, buyers can find options to suit various budgets. Local market trends indicate a steady demand for homes, particularly in neighborhoods with good schools and easy access to amenities.

Some notable neighborhoods in Annapolis include:

• Downtown Annapolis: Known for its historic charm and waterfront views
• Colonial Annapolis: Features colonial-style architecture and picturesque streets
• Parole and Edgewater: Offer more suburban living with easy access to Annapolis

NMHL's local expertise can help you navigate these neighborhoods and find the perfect home for your needs.

Property taxes in Annapolis average approximately 0.95% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $520,000 home, you can expect to pay around $4,940 per year in property taxes. It's essential to consider these costs when calculating your overall homeownership expenses.

Maryland also offers some tax benefits for homeowners, such as the Homestead Tax Credit, which can help reduce your property tax liability. NMHL can help you understand these benefits and factor them into your mortgage planning.

The quality of local schools is a significant factor in determining home values in Annapolis. The Anne Arundel County Public Schools system serves the area, with several highly-rated schools in and around Annapolis. Homes in districts with top-performing schools tend to appreciate in value and are often in high demand.

Some notable schools in the area include:

• Annapolis High School: A highly-rated public high school serving the Annapolis area
• Annapolis Middle School: A well-regarded public middle school with a strong focus on STEM education
• St. Mary's High School: A private Catholic high school with a strong reputation for academic excellence

NMHL can help you understand how school districts impact home values in Annapolis and find a mortgage solution that fits your needs.

Maryland offers several programs to support first-time homebuyers, including the Maryland Mortgage Program, which provides affordable financing options and down payment assistance. NMHL can guide you through these programs and help you determine which one is best suited for your situation.

Some benefits of these programs include:

• Competitive interest rates and flexible terms
• Down payment assistance and closing cost grants
• Educational resources and homebuyer counseling

NMHL's experienced loan officers can help you explore these options and find a mortgage solution that works for you.

At NMHL, we offer a range of mortgage programs designed to serve Annapolis borrowers, including those with lower credit scores, self-employed individuals, and veterans. Our loan officers can help you explore these options and find a mortgage solution that fits your financial situation.

Some of our programs include:

• FHA loans: For borrowers with lower credit scores
• VA loans: For eligible veterans and service members
• Conventional loans: For borrowers with good credit and a stable income

NMHL is committed to providing personalized service and competitive rates to Annapolis borrowers. Contact us to learn more about our programs and get pre-approved today.