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Beautiful homes at even more beautiful prices

Conowingo's history is as rich as the dams and rivers that are located in and around the city. There's a lot of beauty to take in while exploring the outdoors of Conowingo, and the only way to truly experience is to go and see it yourself. Conowingo has extremely affordable housing with many different kinds of homes, and they're available at wonderful rates so you could own your new home today.

Come and live in Conowingo

When you're here, you're home

Conowingo is a safe place to live. According to Trulia, it's very safe and there are few crimes that take place. There are many different types of homes available in Conowingo, and there's a wide range in the prices for homes. Trulia shows that the houses for sale currently are selling from between $60,000 and almost $600,000. That may sound like a big gap, but that's just because there's so many different sized homes with unique layouts to choose from. There are plenty of homes that have been in Conowingo for a long time, but there are also some new homes that have recently been built as well. There are plenty of homes available for $160,000 or less too if you're not wanting to spend too much money.

Experience the joys of Conowingo

Check out the natural beauty of this pleasant town

The Conowingo Dam is an extremely popular destination for not only residents, but also for tourists. It's about a 5-minute drive from town or a 20- minute walk if you want to enjoy the outdoors. According to TripAdvisor, it's a popular spot for seeing bald eagles and there's even a day called 'Eagle Day' to celebrate viewing the eagles, which brings in a lot of people. Many Conowingo residents also enjoy coming here for fishing, hiking, and for photography. Some residents come here often for walks to just enjoy the natural beauty that you can surround yourself with. Conowingo is a beautiful area that has affordable houses and gorgeous natural surroundings. Residents also enjoy going 15 minutes farther to enjoy the hiking trails at the Lower Susquehanna Heritage Greenway Trail in Darlington.

Common Questions About Buying a Home in Conowingo

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.