Personal Lending

Real Estate

If you are purchasing your first home, moving up to a larger home, or refinancing an existing loan, you are probably looking for a fixed rate mortgage.  This loan will keep your finances as simple as possible.  You will know exactly what the principal and interest payment will be for each month over the life of the loan, whether it is 10, 15 or 30 years.  When the bond market or London inter-bank rates go up your payment remains the same, no surprises.

The loan may be structured to fit your needs.  If you want to minimize your down payment and monthly payment, you may put as little as 5% down with private mortgage insurance and extend the term to 30 years.  If you want to build up your equity as quickly as possible you may increase your down payment and shorten the term of the loan.  To help guide you through the process we created a checklist of the standard information needed by most lending institutions.

BayVanguard services all the loans we make for the life of the loan.  You will not have to change the address of where to send your payment every few months because your loan has been sold again.

Contact one of our loan professionals for more information at 410-477-5000.

Home Equity

Use your equity in your home to consolidate your bills and reduce your monthly payments, make improvements to your home, purchase that new car, or finance your children’s education. Take advantage of BayVanguard’s low fixed rate, fixed term home equity loan to take the guesswork out of your monthly payment or if you prefer the option of a Line of Credit where funds can be utilized at your option by writing a check, consider BayVanguard’s Home Equity Line of Credit.  Contact Pamela Frisby (NMLS# 466657) at 410-477-5000 Ext. 1026 or Jody Sheckells (NMLS# 503956) at 410-444-1367 for more information.

Home Equity information – Interest payments may be tax deductible, consult your tax advisor regarding the deductibility of interest.  Minimum loan amount $10,000.00.  Fixed interest rate.  Fixed term from 5 to 15 years, variable rate for the HELOC.  Maximum loan to value ratio is 80%.

Construction

If you are ready to turn those construction drawings into reality it is time to contact the experienced loan professionals at BayVanguard. They will help you complete the loan process as quickly and easily as possible. Once construction is underway, you want to be sure that the work proceeds on schedule. It is important to keep the construction funds flowing. BayVanguard normally funds draw requests within three days. If you are considering another lender make sure you ask how long they take to fund a draw request. In some cases it is two to three weeks. When construction is complete your loan is automatically rolled over to a permanent mortgage at a rate you locked in at settlement. You have saved money by only going through settlement one time.

BayVanguard’s dedication to service excellence begins with our first contact and continues through the final payment on the loan. Your loan will be serviced locally by BayVanguard. If you have a question or a problem you will receive a quick response from our loan professionals. If service is important, you should make BayVanguard your lender.

Lot

If you are interested in buying an unimproved or improved lot for future construction purposes, consider a BayVanguard Lot loan.  Contact a lending representative at 410-477-5000 for more details.

Auto

Dreaming of a new car or truck?  New, Used or Refinancing BayVanguard has a financing option that’s right for you.  We can help you find the right payment to fit your budget.  Credit decisions are made in house and delivered promptly.  Contact our lending department at 410-477-5000.

Boat Loans

Set sail with a boat loan from BayVanguard.  We have multiple loan options to choose from, depending on the amount financed.  Contact Pamela Frisby (NMLS# 466657) at 410-477-5000 Ext. 1026 for more information.

Other Personal Loans

BayVanguard offers both secured and unsecured personal loans.

• Secured personal loans – use an existing savings or certificate of deposit to borrow funds for personal use. Rates and terms can be obtained by contacting your local branch manager.
• Unsecured personal loans – no collateral other than the promise to repay, unsecured personal loans are generally available to individuals with an established credit record, a bank established credit history, stable employment, and a full deposit relationship. The interest rate is generally higher than collateralized loans, unsecured loans still offer the benefit of quick, convenient financing.