Buying a Home in Lake Linganore

Buying a Home in Lake Linganore

If you’re buying a home in Lake Linganore, preparation is important. The right agent and lender pre-qualification will go a long way to help you find and secure the home you want!   Low Inventories of Homes, and the desirability of the community can add up to not much time on the market, and the best properties often go under contract in only a few days. It’s essential to ensure that you’re prepared ahead of time to understand everything you’ll need to do to secure a home you like. 
Just the same, you will likely want to take the time to see a few homes, and review the targeted Lake Linganore search that Rose can provide. Her patience, responsiveness and the insight of comparables will help make the right choice of property!
Lake Linganore is a large, sprawling community with a diversity of home choices. The Community is divided into Villages – with varying prices, home styles, topography, and variable community landscapes. All centering around amenities that are beyond comparison for the Frederick County Region.
This article has the information you need to prepare for buying a home in Lake Linganore.

Why should you buy a home in Lake Linganore?

Lake Linganore is a private planned community that values the time spent in the great outdoors.  Most of the Roads are privately maintained, and the amenities are all private to the Residents.   The primary Lake Linganore offers several points of access for anyone who wants to kayak, boat, or swim with two sandy beach areas and a boat launch ramp. There are also several other smaller lakes for enjoyment. Or you may prefer to utilize one of the four community pools, playgrounds, basketball and tennis courts, and vast open common areas. Wonderful sledding hills too when we have the right weather! The neighborhood also offers miles of hiking and walking trails. There are also many events throughout the year including Farmer’s Market, Live Bands, Fireworks, Trivia, Festivals  and more! 
The Lake Linganore and New Market region include two high schools:  Linganore and Oakdale,  two middle schools: Oakdale Middle and New Market Middle (very small districted  area), and three elementary schools:  Deer Crossing, Oakdale Elementary and Blue Heron (brand new this year). We are proud of the top rated schools in this Region.
The location is also popular with nearby access to Frederick (about 15-20 minutes), two Marc Train Stations within 15 minutes, and many grocery stores including the popular Wegman’s (about 15 minutes). Highway access is convenient with the nearby Rt. 70 interchange. Many residents commute within the Washington DC/Baltimore Regional locations.

What to know about buying a luxury home

In addition to the intangible benefits of Lake Linganore, you will want to stay informed about the local market and its financial climate.

Market conditions

Luxury homes in Lake Linganore typically sell in the high six figures.  New Home and existing home options are available to meet your needs and budgets. The Lake Linganore Community also offers opportunities for first time buyers with housing options such as condos, townhomes of varying sizes, and also smaller starter homes. The market is robust, with plenty of options for buyers who value the neighborhood’s location and amenities. It remains to be seen how great an effect the larger housing market has on the local market of Lake Linganore. At this point in time, homes are still selling quickly, and inventories are still low.

Rose can send a targeted property search that will alert you to homes that are just listed and also coming soon. She lives in the community and will be very glad to show you a home as it comes on the market.

Closing costs

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Buyers are ordinarily responsible for closing costs between two and five percent of the home's total cost. As a luxury homebuyer, you’ll want to set aside enough cash to cover your closing costs and down payment. The amount that you’ll be required to put down at closing varies based on what type of loan you’re using. Most buyers need a down payment of at least three percent of the home’s total cost. If you are purchasing an existing home, not a new build, typically some of the closing costs (Maryland Transfer and Recordation Taxes) are shared equally. There is a discount for a First Time Maryland Home Buyer (including a Buyer that is transferring from another state and has not owned previously in Maryland). In some cases, Closing Concessions may be negotiable with the Seller per offer and situation. Let's discuss! I am creative and the goal is to provide you with solutions!

Property taxes

You’ll pay property taxes on a prorated basis depending on how long you live in the home during the calendar year. There’s a chance that the seller has already paid taxes for the entire year, but they will be reimbursed for the time you’ll be occupying the home. The term is prorated. HOA fees are also prorated per date of settlement. Maryland’s tax (fiscal) year is July 1 through June 30. Owner occupants have the option to pay taxes semi-annually. That may lower your closing costs since most mortgage lenders require an Escrow.

Requirements for buying a home in Lake Linganore

Speaking with a lender is one of the first things you’ll want to do when you’re thinking about buying a home in Lake Linganore. Your lender can give you a better idea of what type and amount of loan you can qualify for based on your current debt-to-income ratio and your credit score. They may also ask for recent pay stubs, W-2 or tax returns as proof of income. Generally, the look-back is the previous 2 years of income. Self-employed individuals will need to provide the complete tax return for at least 2 years.
Once your lender assesses your overall financial health, they will provide you with a pre-approval letter detailing the maximum amount you can borrow. It is a smart move to assess your buying power and credit analysis early in the process. When you find the right property, having this step completed saves time and stress. This is an essential step in the process and must be completed before any offers can be submitted.
Once you have a better idea of the price range where you’re shopping, you can begin looking at homes online to get a better feel for what amenities and features are most important to you. can communicate with your realtor about what you’re looking for, and they will recommend properties that meet your needs and fit your interests.

Money-saving tips for buying a home in Lake Linganore

The equation of your home purchases includes variables like mortgage rate, down payment, and credit score.

Find the best mortgage rate and loan program for your needs

There may be a Grant or other loan program that will suit your needs. Frederick County as well as the State of Maryland have various programs which may include Grant Money.  Generally, Grant Money has to be repaid, but is held as a second mortgage, with no payments or interest until the home is sold. For those with Student Loans, the Maryland Mortgage Program may have some excellent options too.
Rose is fortunate to have a number of qualified Lenders that can offer excellent advice and assist in evaluating your particular needs. Please ask! Working with a Realtor’s recommended Lender can frequently help avoid headaches that picking a Lender offline can occur.
Be sure to ask me how to use a popular loan program that is a Fixed Rate Mortgage, but also reduces the interest rate on Year 1 and Year 2 of the mortgage. This can help mitigate the higher rates we have experienced since Fall, 2022. Also, many lenders are offering reduced fee structures when the rates come down and buyers want to consider a refinance. Plus FHA and VA have excellent Streamline Refinance options. Glad to explain!


A larger down payment can help reduce the monthly payment, however, many of my buyers have been surprised to find that an increased downpayment of a smaller amount may not make a large difference in the payment. Glad to provide illustrations. Also, Lenders can run scenarios for properties with varying down payment and loan options.
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Credit Score Tips

Lenders consider the credit score as  one of the main factors when evaluating your financial health. Raising your credit score will take time and consistent action. Still, if you make it a point to pay your bills before they are overdue and refrain from using a significant portion of your monthly credit balance, you will improve your odds of getting a favorable interest rate.
In some cases, a Lender can run a scenario where reducing debt rather than allocating towards the down payment can improve the credit score and ultimately the loan rate.

What’s next?

Now that you understand what’s required of anyone buying a home in Lake Linganore, hopefully, you feel greater peace of mind about taking the next step. If you still have questions or want to partner with a real estate agent who can help you with your search, reach out to Rose Bartz. A resident in Lake Linganore since 1993, showing off the community where she raised her family and still lives, can offer a lot of insight!

Rose is well-known throughout the Lake Linganore area and Frederick area for her superior communication and negotiation skills. Time and time again, she has proven her ability to help clients successfully purchase their dream Lake Linganore homes. Contact Rose at your convenience and find out how she can help you.

*Header courtesy of Anthony Manco Aerials

Work With Rose

Rose particularly enjoys working with first-time buyers or those that may need a special touch of finesse and empathy. Rose has worked with many relocating into the Baltimore/Washington Metro area.

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