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Small town full of big opportunities

Church Hill is a quaint town across the Chesapeake Bay and East of the city of Baltimore. Church Hill is perfect for the homebuyer looking to settle down in a small town with plenty of land, nature, and quiet. It is located in Queen Anne's County and according to the 2010 census, the population is under a 1,000. That, together with the location, makes this an ideal place to settle down and live peacefully.

Affordable homes with plenty of land

Church Hill will feel like home

Church Hill is located west of Blue Star Memorial HWY—the main route for people wanting to get from town to the neighboring city of Baltimore. For the nature lover, Church Hill's location right next to the Chester River is a very desirable feature and there is plenty of recreation and enjoyment to found along its shores. The most prominent local institutions and features are the Church Hill Elementary School, U.S. Post Office, and Bethel AME Church. This town's soul is centered on the citizens who have come together through their desire for a safe and relaxing town to live in.

Your beautiful home is waiting in Churchill

Plenty of homes available for the first time homebuyer

Life in Church Hill is exactly what you would expect in a small town. It is quiet, peaceful, and calm. Getting a mortgage very often is not any of those things. Buying a home can be a stressful process and Earnest will help in making it as easy as possible. After a quick application process, we will take every initiative to fulfill your dreams and find you the perfect home. We understand that safety, convenience, and budget-friendly are at the forefront of your desires. We can help fulfill that. Allow us to guide you through your home-purchasing process and we can make your dreams come true. With the median home price of $260,000 according to Trulia, a home in Church Hill can now be your dream come true.

Common Questions About Buying a Home in Church Hill

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.