Buyers in Ocean City, MD
When it comes to finding the perfect second home, getting into contract is the fulfillment of a long hoped-for place to make memories for years to come. But the journey can sometimes feel a bit rocky, and today’s high interest rates don’t help. That’s exactly the position one couple in Ocean City, MD found themselves – caught amidst rising rates and less-than-favorable pricing adjustments for second homes added last year by the federally backed home mortgage companies, Fannie Mae and Freddie Mac, that determine the guidelines for pricing for the majority of loans in the country. Already in contract, the quotes from local lenders the couple was receiving all reflected this discouragingly high pricing, leaving them wondering if there was another way.
Enter the woman’s sister, a soon-to-be homeowner in Frederick, who was in the midst of securing her own primary residence through us at Ritter Mortgage. Upon hearing about the couple’s predicament regarding the Ocean City condo, her immediate suggestion was, “Try Ritter.”
“But the lenders here say non-locals are a risky bet,” the woman relayed, echoing what local lenders had previously told her. The sister responded, “Just one call. What’s the harm?“
Transforming Skeptics into Raving Fans
When the Ocean City couple received our quote that was over a point below any other she’d received, it was natural for her to be a bit skeptical. Could this be too good to be true? Warnings from local Ocean City lenders continued. They nudged her to stay wary, suggesting that perhaps we didn’t fully understand the nuances of Ocean City properties and that we would withdraw our offer or come into hidden complications later in the process.
Yet with her sister’s confidence, she decided to take the chance with us. And as days turned into weeks, and her loan progressed smoothly, her hesitations slowly evaporated. The process wasn’t just smooth – it was transparent. By the time her loan was ready to close, any remnants of doubt had been replaced with heartfelt appreciation.
The ending? Well, it’s the sort of ending everyone hopes for: securing a dreamy second home by the beach with an experience that felt more like a partnership than a transaction, and an interest rate that is music to your ears.
Turning skepticism into satisfaction is a good reminder that taking a leap of faith with the right people by your side can lead to the great outcomes!
If we can help your or someone you love make their second home dreams a realty, please contact us, today!
