Alert Message

Find your new home in Brandywine

Hovering on the southern border of Prince George's County, Brandywine is a lovely town close to Washington, D.C., and Northern Virginia. The town's optimal location makes it the perfect place for those looking for a residence outside of the city; it's close enough for an easy commute, but remains far from the commotion that city life brings. Surrounded by prestigious public schools and local universities, Brandywine is also the perfect place for those looking to settle down with family.

Brandywine is for commuters

Freedom and convenience

Brandywine serves as an express route to major cities, making it the perfect location for commuters seeking a retreat from the fast pace of city life. Alexandria, an incredible city in Northern Virginia, is only 14 miles away from Brandywine. That's the same Alexandria that's home to George Washington's vast estate, historic Mount Vernon, along with other eclectic sights such as the Torpedo Art Factory. Brandywine's proximity to the nation's capital is nothing to gloss over, either; Brandywine is only 17 miles from Washington, an obvious advantage for any homebuyer. Brandywine is close enough to allow residents to enjoy the inner-city comforts of Northern Virginia, Washington, D.C., and Maryland, while simultaneously providing a quiet retreat to call home.

Get more, pay less with a Brandywine home

Homes that prove that bigger is better

Earnest can help you move into that new Brandywine condo you've been thinking about, or perhaps find a place that's a bit more secluded. Brandywine guarantees homebuyers much more space compared with properties close to the Greater Washington Area. Many neighborhoods in Brandywine allow homebuyers to survey properties situated on large acres of land with wooded backdrops, providing a pleasant landscape to gaze upon when in or outside the house. Home sizes are also on par with the upsized acreage: It's common to find homes averaging 3,000 square feet or more. Brandywine homes bring value not just for their property, but for the homes themselves. With gorgeous interior designs and exterior finishes, Brandywine homes have an edge over their competitors. Let Earnest help you invest in your new Brandywine home today.

Common Questions About Buying a Home in Brandywine

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

People around a computer

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.