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No need to compromise with a Clarksville home

Clarksville is an unincorporated community located in Howard County, just outside of Columbia. As the second wealthiest county in the country, according to the U.S. Census Bureau, you can expect to pay more for homes in this area--but they'll be worth every penny. In return for their investment, residents enjoy historic homes, safe and quiet neighborhoods, and high-performing schools such as Clarksville's River Hill High School. This community is ideal for any type of homebuyer.

Clarksville is beautiful

Enjoy wildlife from your backyard

Clarksville is right next to the Middle Patuxent Environmental Area, so you can enjoy nature in your own backyard. Situated in the middle of Maryland, Clarksville is a great place to invest if you want easy access to Baltimore or Washington, D.C. Commuters especially will find the location convenient. Take trips out of town whenever you want or enjoy the various local businesses--there's tons to do in and outside of the area. Clarksville has all the dining options you could want, from vegan food at Great Sage to Mimi's Kabob. It's no wonder over 12,000 people call Clarksville home.

Your family's next home is in Clarksville

Choose from a variety of home types and locations

Clarksville homes come in all shapes and sizes, for all types of residents. With so many options to choose from, and so much information required, the search can be overwhelming. Luckily, Earnest is here to help you make the best decision based on your needs. We'll analyze your financial profile, from your credit score to your monthly budget, and come up with options to suit your family's requirements and preferences. Let us take you one step closer to your dream home in Clarksville. Start a new and happier chapter of your life today as a Clarksville homeowner--you won't regret becoming a part of this fantastic community.

Common Questions About Buying a Home in Clarksville

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.