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Redwood Mortgage Services

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Annapolis, MD
Redwood Mortgage Services

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Redwood Mortgage Services - NMLS ID: 91893
www.nmlsconsumeraccess.org/
Refinance your mortgage, purchase your first home, or obtain a reverse mortgage.

We have the experience to make any mortgage process uncomplicated and rewarding for you. Redwood Morgage Services is a full-service mortgage broker/lender founded in 1999 and licensed in Maryland, Virginia, District of Columbia, Delaware and Florida. Since 1999, we have seen mortgage companies come and go and we have seen the industry through it's many twists and turns. In the meantime, we have been successfully closing loans for hundreds of new and existing clients. Let us know how we can help you! (410) 266-1621

(mortgage, refinance, purchase, first time homebuyer, VA loans, reverse mortgage, FHA refinance, FHA purchase, USDA purchase, USDA refinance)

10/30/2026

The idea that you need 20% down to buy a home is one of the most persistent myths in real estate. Here is what the actual math looks like.

On a $400,000 home: 20% down = $80,000 out of pocket, no PMI, lower monthly payment. 3% down = $12,000 out of pocket, PMI added monthly, slightly higher rate possible.

The 20% path has clear advantages: no mortgage insurance, better rate pricing, and a lower payment from day one. But it comes at the cost of time -- often years of saving.

The 3% path gets you into a home now. You start building equity immediately, which means market appreciation and principal paydown work in your favor right away. PMI typically costs between 0.5% and 1.5% of the loan amount annually and is cancellable once you reach 20% equity.

The real question is not just about the down payment -- it is about opportunity cost. What happens to home values while you are saving that additional $68,000? In many markets, appreciation during the waiting period can outpace the total cost of PMI.

The right answer depends on your savings, your market, and your timeline.

Visit Redwood-Mortgage.com and let's run the actual numbers for your situation.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

10/29/2026

High-income professionals -- particularly physicians, dentists, and attorneys -- often face a paradox when applying for a mortgage. They have strong earning potential but may carry significant student loan debt and a limited employment history due to years of training.

Physician and professional loan programs are designed specifically for this group.

Key features of these programs:

Low or no down payment: Many physician loan programs offer financing up to 100% with no PMI, even at high loan amounts.

Student loan flexibility: Lenders using these programs often exclude deferred student loans from the DTI calculation or use a reduced payment figure, rather than the 1% rule applied under standard FHA guidelines.

Early employment acceptance: Most programs accept a signed employment offer letter as qualifying income, meaning you do not need to have started your new position yet at closing.

No private mortgage insurance: Even with low down payments, PMI is typically waived -- a significant monthly cost savings at high loan amounts.

These programs are not available at every lender and are not widely advertised. Eligibility varies by institution and professional designation.

If you are a physician or licensed professional in the early stages of your career, DM me and let's look at what you qualify for.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

10/28/2026

Not every borrower fits neatly into a conventional or government-backed loan box. That is where portfolio loans come in.

A portfolio loan is a mortgage that a lender originates and keeps on its own books rather than selling to Fannie Mae, Freddie Mac, or a government agency. Because the lender is not selling to the secondary market, it sets its own underwriting criteria instead of following agency guidelines.

This flexibility makes portfolio loans valuable in a number of situations: self-employed borrowers with complex tax returns who do not show enough qualifying income on paper; real estate investors who have hit conventional loan limits; buyers with significant assets but limited income; borrowers with a recent credit event who fall just outside standard waiting periods; and high-balance loan needs where jumbo products are limited.

Portfolio lenders can set their own standards for credit score, debt-to-income ratio, reserves, and documentation. This does not mean they are lax -- it means they evaluate the full picture rather than checking boxes against agency guidelines.

If you have been told you do not qualify for a conventional loan, you may still have options you have not explored.

Visit Redwood-Mortgage.com to learn what may be available for your situation.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

10/27/2026

A foreclosure or short sale is one of the more significant credit events a homeowner can experience -- but it does not permanently close the door on future homeownership. Understanding the waiting periods and what lenders look for can help you plan your comeback.

Waiting periods after foreclosure: Conventional loans require 7 years from the completion date. FHA loans require 3 years. VA loans require 2 years.

Waiting periods after a short sale: Conventional loans typically require 4 years from the completion date, though this may be shorter with documented extenuating circumstances. FHA loans require 3 years. VA loans require 2 years.

Extenuating circumstances -- such as job loss, serious illness, or divorce -- may reduce waiting periods on some loan programs. These exceptions typically require a larger down payment and documentation of the hardship.

Beyond the waiting period, lenders expect to see rebuilt credit, stable employment history, and no late payments since the event. The stronger your file at the time of application, the better positioned you will be.

If you experienced a foreclosure or short sale and are wondering what your options look like today, DM me and let's figure out where you stand.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

10/23/2026

Your loan-to-value ratio -- or LTV -- is one of the most important numbers in mortgage lending. It affects whether you qualify, what rate you are offered, and whether you will pay private mortgage insurance.

LTV is calculated by dividing your loan amount by the appraised value of the home. If you are buying a $500,000 home with a $100,000 down payment, your loan amount is $400,000 and your LTV is 80%.

Here is why LTV matters:

Loan program eligibility: Different loan programs have maximum LTV thresholds. Conventional loans allow up to 97% LTV for eligible borrowers. FHA allows up to 96.5%. VA and USDA allow 100%.

Private mortgage insurance: On conventional loans, an LTV above 80% typically triggers PMI. The lower your LTV, the lower your PMI cost -- and once your LTV drops to 80%, you can request cancellation.

Interest rate pricing: Lenders price risk partly based on LTV. Lower LTV generally means better pricing on your rate.

LTV also evolves after closing. Rising home values and loan paydown both reduce your LTV over time -- and a lower LTV opens up refinancing opportunities and, eventually, equity access.

DM me and let's look at your LTV and what it means for your specific situation.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

10/22/2026

One of the most powerful things you can do as a homeowner is make extra payments toward your mortgage principal. The impact -- in both time and money -- is often larger than people expect.

Every dollar you pay beyond your required monthly payment goes directly toward reducing your outstanding loan balance. Because interest is calculated on your remaining principal, a lower balance means less interest accrues every single month going forward.

Here is a practical example. On a $400,000 mortgage at 7% over 30 years, your required monthly payment is approximately $2,661. Adding just $200 extra per month toward principal can shorten your payoff timeline by more than four years and save tens of thousands of dollars in interest over the life of the loan.

A biweekly payment strategy is another popular approach. Instead of making 12 monthly payments, you make 26 half-payments per year -- which equals 13 full payments annually. That extra payment chips away at your principal faster without requiring a significant change to your budget.

Before making extra payments, confirm with your servicer that they are applied directly to principal and not held as a future installment.

DM me with any questions about how your mortgage fits into your broader financial picture.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

10/21/2026

Underwriting is the part of the mortgage process that feels like a black box to most borrowers. Here is what is actually happening.

Once your application is complete and your file is submitted, an underwriter reviews it to verify that everything meets the lender's guidelines and the requirements of the loan program. They are evaluating four main areas:

Credit: Your credit history, score, and payment patterns. The underwriter looks beyond the score itself at the underlying tradelines -- how long accounts have been open, how they have been managed, and what derogatory items exist and why.

Income: Your ability to repay. This means documenting and verifying your income, calculating your qualifying income based on program guidelines, and ensuring your debt-to-income ratio falls within acceptable limits.

Assets: Your down payment, closing costs, and reserves. Underwriters trace large deposits and verify that funds are acceptable under program rules.

Appraisal: The value and condition of the property. The underwriter confirms the home is worth what you are paying and meets property eligibility standards.

An underwriting decision can go three ways. An approval means you are clear to proceed. A conditional approval -- the most common outcome -- means you are approved pending specific additional documentation. A denial means the file does not currently meet guidelines, though often there are paths to address the underlying issues.

DM me and I can walk you through exactly what to expect.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

10/20/2026

When you are ready to get a mortgage, one of the first decisions you will make is who to work with. Two of the most common options are a mortgage broker and a direct lender. Understanding the difference helps you make the right choice for your situation.

A direct lender -- a bank, credit union, or mortgage company -- funds and services loans using its own capital. You apply directly, and they underwrite and close the loan in-house. The advantage is a streamlined process under one roof. The limitation is that you are confined to that lender's own products and pricing.

A mortgage broker, by contrast, works with multiple wholesale lenders on your behalf. Rather than originating loans directly, a broker shops your file across a network of lenders to find competitive pricing and programs. This can be particularly valuable for borrowers with unique situations -- self-employed income, non-standard assets, or credit challenges -- where one lender's guidelines may be more favorable than another's.

I operate as a mortgage broker, which means I have access to a wide range of loan products and wholesale pricing that retail banks typically cannot match.

Visit Redwood-Mortgage.com to see what I can find for you.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

10/16/2026

Before you close on any home, your lender will require proof of homeowner's insurance. This is not optional -- and understanding what you are buying matters.

Homeowner's insurance protects your home and personal property against losses from fire, theft, vandalism, wind, and certain other covered perils. It also provides liability coverage if someone is injured on your property.

Three coverage areas to evaluate when shopping for a policy:

Dwelling coverage: Pays to repair or rebuild your home if it is damaged. Base your coverage on the estimated rebuild cost -- not the purchase price or market value, which can differ significantly.

Liability coverage: Protects you if someone is injured on your property and files a claim. Standard policies start at $100,000, though many advisors recommend higher limits.

Personal property coverage: Covers your belongings -- furniture, electronics, clothing -- if they are lost or damaged in a covered event.

One critical note: standard homeowner's insurance does not cover flooding. If your home is in or near a flood zone, separate flood insurance is typically required by your lender and should be budgeted for separately.

Your premium is usually collected through your monthly escrow payment alongside property taxes and mortgage insurance.

Visit Redwood-Mortgage.com to get started on your purchase today.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

10/15/2026

Homeownership comes with financial benefits that extend well beyond equity building. The U.S. tax code includes several provisions that can reduce your taxable income -- and it is worth knowing what they are.

Mortgage interest deduction: If you itemize deductions, the interest you pay on a mortgage up to $750,000 may be deductible. For most homeowners in the early years of a loan, interest makes up the majority of each payment -- making this deduction particularly valuable early on.

Property tax deduction: State and local property taxes are deductible up to $10,000 per year under the current SALT cap when you itemize.

Mortgage points: If you paid discount points to buy down your interest rate at closing, those points may be deductible in the year paid on a home purchase.

Capital gains exclusion: When you sell a primary residence you have owned and lived in for at least two of the last five years, you may exclude up to $250,000 in gains from income -- or $500,000 if married filing jointly.

Tax benefits vary by individual situation. Always consult a qualified tax professional for advice specific to your circumstances.

DM me with any questions about how your mortgage fits into your broader financial picture.

Stuart Kiehne | NMLS #92008 | Redwood Mortgage Services
Licensed in MD, VA, DE, DC, NC, FL

Address

2077 Somerville Road , Suite 220
Annapolis, MD
21401

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm
Saturday	8:30am - 5pm

Website

http://www.redwood-mortgage.com/

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