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Your Arnold home is around the bend

Arnold is the suburb you dream of settling down in. From its close proximity to the water to being a short drive from Annapolis, Arnold is everything you need and want in one area. With beautiful scenery and neighborhood attributes, you'll never want to live anywhere else. Work and live in Arnold today.

Settle down in beautiful Arnold

The views and the home you've been looking for

Located in a suburb near Annapolis, Arnold provides a friendly suburban atmosphere while keeping you a short drive away from the city life. Less than 20 miles away is Baltimore, where you can enjoy a family visit to the National Aquarium or a sports game on the weekend. Let Arnold show you what it's like to live in your dream home. The median price of homes in Arnold is currently $407,400, based on information from Zillow, and is expected to increase in value. This means that now is the ideal time to invest, before prices and rates go up. Arnold has everything you're looking for, so look no further!

Budget-friendly homes located in Arnold

Your new home awaits you

Buying your first home in Arnold? Earnest helps you get your priorities in order for house hunting, whether it's square footage in the interior or a huge backyard. Using our specialized tools to determine your financial situation, such as our easy-to-use loan calculator, we help you find a home within your budget. Keep in mind that you may be eligible for discounts, and make sure to discuss them with your realtor. Never stress about the home search process when working with Earnest--we've got your back. Get ready to move in to your Arnold home soon!

Common Questions About Buying a Home in Arnold

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.