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Buying your dream home in Cooksville starts here

Located in inland Maryland, Cooksville is a quiet, warm community full of gorgeous homes and scenic landscapes. Filled with historic landmarks and some of nature's most breathtaking views, Cooksville is the perfect place for a range of buyers, offering something unique for everyone. With average home prices on the rise and such an appealing lifestyle to offer, buying Cooksville is a great investment and the perfect spot to find your dream home.

Cooksville is the ideal community

Luxury and comfort with a small-town feel

Cooksville is conveniently located in the heart of Maryland, where suburbia meets nature. Sprawling across the town are scenic woods and beautiful bright skies. Visit the historic Roberts Inn, or take a quiet walk through the town while enjoying peaceful views. With access to major highways and surrounding cities such as Baltimore, commuters will find it easy to travel to and from their dream home to work and back. With a population of under 1000, a low crime rate and spacious, beautiful homes featuring sweeping lawns all tucked in among vast areas of land, Cooksville makes for the ideal location to settle down with a family and start making a lifetime of memories to share.

Cooksville mortgages without the headache

A fast, easy application process and low rates

Homebuying can be an overwhelming process, even when you are looking to buy in a quiet place like Cooksville. With so many houses to peruse and factors to consider when making your decision, it's not always the quickest process. Earnest streamlines this by putting your unique priorities and desires together with your financial profile to help create your target home price. Median home prices in Cooksville are at $713,360 according to Trulia. While this may appear steep at first glance, the value of the homes in the area is skyrocketing--and that means as a long-term investment, this is an area to seriously consider.

Common Questions About Buying a Home in Cooksville

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.