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Become a homeowner in Accokeek

This picturesque town in southern Maryland is spacious, historic, and affordable. As a part of Prince George County, Accokeek offers more than just proximity to the cities of Northern Virginia. Here, you will have access to good schools, good hospitals, and a range of small businesses that breathe life into the area. In Accokeek, you can find an affordable house in a community you want to be a part of. Become a resident of Accokeek now.

Buy a house in a town you'll love

Beautiful Accokeek is the place for you Invest now in your new home

Situated just 10 miles north of Alexandria, Virginia, Accokeek is a great town for commuters who want to live close to their jobs but outside of the traffic. Washington D.C. is close by, too, so while you will be within easy reach of these urban hubs, you'll be removed from the chaos of city driving. In fact, Accokeek spans across nearly 22 square miles with a population of just over 10,500 people. Accokeek residents have plenty of space, and they are surrounded by beautiful landscape. The town affords one with breathtaking views of the creek from Piscataway Park, and many of its landmarks and homes are listed on the National Historic Register. In Accokeek, you can be a part of the nearby urbanity when you choose, while enjoying the wonderful nature of southern Maryland. Invest in a house—and the region—while rates are low.

Invest in your Accokeek home with Earnest

With our help, your new house in Accokeek is just around the corner

If you're looking to become a homeowner, you are probably full of questions and concerns. Location and affordability are just a few. Here at Earnest, our experienced analysts look at your personal finances while taking your desires and requirements into account. We want to enable you to purchase a home that is feasible for your budget while suiting your lifestyle, and for many, Accokeek is the perfect solution. This beautiful little town offers you picturesque views with a convenient commute into D.C. and Alexandria, but while you may want to act now, you have to consider all the right factors. A new house in a scenic area doesn't have to remain a fantasy. At Earnest, we can help you make the right investment in Accokeek.

Common Questions About Buying a Home in Accokeek

All The Answers You Need to Settle Down Sooner

Should I choose a fixed or adjustable rate?

It depends how long you expect to stay in the home. Adjustable rates are good for people who may not be in the home long, whereas fixed rates are ideal for people who are confident of settling in.

Do I need a home appraisal?

Probably—in most cases, the homebuyer must use an appraiser to evaluate the value of the home. Appraisal costs vary depending on the value of the property, as well as the state the house is in. Buyers cannot choose their own appraiser—the bank makes the decision.

What is PMI?

Private mortgage insurance (PMI) is required when a homebuyer makes a down payment of less than 20%, or when a borrower refinances with less than 20% equity in the home. PMI fees vary according to your down payment and credit score, and adds a premium to your monthly mortgage payment. Please note, PMI is tax-deductible in 2015 and 2016 for certain income brackets.

What does Loan-to-Value mean?

Loan-to-Value (LTV) is the percentage of your home’s value that your loan represents. When refinancing, the calculation is simply the loan amount divided by the appraised value. When buying a home, the LTV is found by dividing by either the purchase price or appraised amount, whichever is lower. When the LTV is less than 80%, the lender generally requires PMI.

For example:

Purchase price: $100,000
Down payment: $15,000
Loan amount: $85,000
Appraised value: $110,000
LTV: $85,000/$100,000 = 85%

What are closing costs?

Closing costs are standard fees associated with a real estate transaction. You will typically pay about 2-5% of the purchase price in closing costs—the exact amount depends on where you are buying (or refinancing), as well as number of extra fees involved in your particular transaction. Earnest charges no lender fees, so the borrower is only responsible for 3rd-party fees.

What should I consider before refinancing my mortgage?

Refinancing your home loan is an attractive option when rates are low. A simple rate and term refinance can help you lower your monthly payment and potentially eliminate your PMI premium, as long as you have built up enough equity in the home. You might also use a cash-out refinance to access some of the equity you’ve built up in the home (which may result in a higher monthly payment on your new loan).

However, keep in mind that refinancing a mortgage does involve several fees (closing costs). Before refinancing, you should calculate the ‘break-even’ point at which your refinanced loan makes up for the closing costs. If you plan to leave your home before this time, it’s better to stay with your current mortgage.

Knowledge Is (Buying) Power

Further Resources from the Earnest Blog

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The intelligent home loan

When it comes to finding the right home loan, Earnest works hard to ensure that the process pain-free. We use an industry-leading and intuitive online-only application (meaning most times no scanner or fax machine required), a 5-star client service team, and a unique rolling pre-approval that stays current while you track down that perfect home. At Earnest, the home loan process is like no other.