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Find your new home in Barnesville

Originally a community driven by tobacco growth and production, Barnesville has since grown into a booming residential and agricultural town. With a slogan that proudly states, “a caring community,” Barnesville has everything you need, from local grocery stores to parks and recreation centers. Plus Barnesville has a variety of single family homes and apartments to choose from.

Start the next chapter of your life in Barnesville

Your new home is waiting in this historic and beautiful small town

Founded in 1749, this town is a town full of stories tracing back to the Civil War or the residency of “Catcher in the Rye” author J.D. Salinger. Located at the foot of Sugarloaf Mountain, the small city of Barnesville is brimming with rustic charm and history. While Barnesville continues to respect its history, it is also growing by offering spacious apartments, single family homes and a wide range of nearby activities. Discover sculpture studio Curlew Castings, take in the mountain sights, or get to know one of the many authors or artists living in the area. With a population of 178 and something for everyone, this town is a breath of fresh air.

Settling down in Barnesville

Low rates and easy online applications take the stress out of homebuying

Whether this is your first time buying a house or your tenth, purchasing a new home can be an exhausting process. With a variety of lovely houses and apartments to look at, neighborhoods to explore, websites to browse, priorities to identify and mortgage rates to research, a process that started as an adventure can quickly become an overwhelming burden. Earnest can help make it simple. They work with you to find your priorities as a homebuyer while studying your unique financial profile, enabling you to determine the target home price that is right for you. Earnest even offers a simple to use online application to help you get started, allowing you to focus on more important things instead of stressing over paperwork.

Common Questions About Buying a Home in Barnesville

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.