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Comfort and friendliness at a price you can afford

Cecilton is a small, spirited town with a population of about 663 people. Personality, charm, and a close-knit atmosphere emanate from this community. With a quaint town hall, which hosts town meetings twice a month and a volunteer firehouse, this area thrives off of community connections and personable attitudes.

Join this close-knit community for a bargain price

Small town charm, agriculture, and seasonal activities beckon in Cecilton

Located in Cecil County, this quiet town is approximately 20 miles from Elkton, Maryland and three miles from Middletown, Delaware. Annapolis is just over an hour away, too, for those days when you want to get into the city. Cecilton’s education system is well-ranked, with public school options for all ages. You'll also be surrounded by seven universities, including the University of Delaware, which is no more than 30 miles away. Small businesses thrive in Cecilton, and while you're strolling through the town, you'll have the pleasure of breathing in the energetic environment while encompassed by a variety of architectural designs. Other than local businesses, agriculture is a driving source of income for this beautiful area, and in the summer, the scenic vistas bring in plenty of tourists and industry.

Get ready for your move to Cecilton

With our simple application, Earnest is prepared to help you buy a house

Buying a home in Cecilton is not as complicated as you might think. At Earnest, we are ready to make transition to your dream home come to life without a snare. With its hospitable neighborhoods and family-friendly vibe, Cecilton is a great place to settle down. This small town offers a medley of housing options regardless of your needs and budget, and you'll have your choice of aesthetic, too. Earnest will help you develop a list of desires and match it with your budget, so Cecilton can become your reality. As listed on Zillow, the median sales price of a home here is $299,000. At this low rate, we can help you secure a home loan and invest in this beautiful countryside town now.

Common Questions About Buying a Home in Cecilton

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.