The Towson housing market is highly competitive, with a mix of older and newer homes available. The median home price in Towson is around $340,000, with prices ranging from $200,000 to over $1 million depending on the neighborhood and property type. According to recent data, the Towson housing market has seen a steady increase in home prices over the past few years, with a growth rate of around 5% per year. This makes Towson an attractive option for homebuyers looking to invest in a growing community.

Some popular neighborhoods in Towson include:

• Downtown Towson: Known for its vibrant nightlife and shopping scene
• Towson City: Offers a mix of older and newer homes
• Baltimore County: Provides easy access to I-695 and other major highways

Contact NMHL for more information on Towson's neighborhoods and to find the best fit for your needs and budget.

Property taxes in Towson average approximately 1.06% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $340,000 home, you can expect to pay around $3,600 per year in property taxes. It's essential to consider property taxes when calculating your overall housing costs and to factor them into your mortgage application.

NMHL can help you understand how property taxes will impact your mortgage payment and provide guidance on how to navigate the process. Our experienced loan officers can also help you explore options for reducing your property tax burden, such as appealing your property tax assessment or taking advantage of tax credits.

Towson is served by Baltimore County Public Schools, which operates several highly-rated schools in the area. The Towson High School district is particularly well-regarded, with several schools receiving top marks from Maryland's Department of Education. For example, Towson High School has a graduation rate of over 95% and offers a range of advanced courses and extracurricular activities.

School districts can have a significant impact on home values, so it's essential to consider the quality of local schools when buying a home in Towson. NMHL can provide guidance on how to navigate the process and find a home in a top-rated school district. Our experienced loan officers can also help you explore options for financing your home purchase, including mortgage programs that cater to first-time homebuyers and those with lower credit scores.

NMHL offers several first-time homebuyer programs in Towson, Maryland, including FHA loans, VA loans, and Maryland's HomeReady program. These programs provide benefits such as lower down payment requirements, reduced mortgage insurance premiums, and access to special financing options. For example, the HomeReady program offers a down payment as low as 3% and is ideal for borrowers who may not have a lot of savings for a down payment.

Contact us to learn more about our first-time homebuyer programs and to get pre-approved for a mortgage. Our experienced loan officers can help you navigate the process and find the best program for your needs and budget.

At NMHL, we understand that not all borrowers have the same financial situation. That's why we offer a range of mortgage programs designed to help underserved borrowers, including those with bad credit, self-employed individuals, and veterans. Our programs include:

• FHA loans: For borrowers with lower credit scores
• VA loans: For eligible veterans and military personnel
• Specialty loans: For self-employed individuals and those with unique financial situations

Contact us to learn more about our mortgage programs for underserved borrowers and to get pre-approved for a mortgage. Our experienced loan officers can help you navigate the process and find the best program for your needs and budget.