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Find your new home in historic Buckeystown

Located in southern Frederick County, Buckeystown has its own history, character, and unique qualities. Whether you’re looking for a place for yourself, somewhere to raise the family, or simply a peaceful spot to retire, Buckeystown is the place for you! With a wide selection of private and public schools to choose from, this small city is ideal for homebuyers looking for the perfect place to raise a family.

Buckeystown is the perfect blend of old and new

With historic sites and modern attractions, there’s something for everyone

Choose from a large array of magnificent single-family houses and spacious apartments perfect for any potential homebuyer. Take a walk around the Buckeystown Historic District or visit the famous Monocacy National Battlefield located less than five miles away. Looking for something more modern? Shops, cafes, and restaurants are waiting nearby. While this small city isn’t walkable, everything you need is within a close driving distance, including a enough public and private schools to satisfy the needs of any family looking to move here.

Get ready to call Buckeystown home

Let Earnest help you get from homebuyer to homeowner without all the stress

Buying a new home can be exciting, especially when you’re purchasing one in such a beautiful historic location such as Buckeystown, Maryland. However, with websites to browse, neighborhoods to look at, homes to explore, and different rates and loans to consider, many homebuyers find the process overwhelming. Thankfully, Earnest helps homebuyers stay above the stress. Earnest works with homebuyers to help them identify their priorities (i.e. walkability, proximity to schools, commute time, etc.) while looking at their unique financial profile. Earnest is able to provide a target home price that is right for you and your homebuying needs. They even offer an easy-to-use online application to help you get started.

Common Questions About Buying a Home in Buckeystown

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.