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Prime real estate can be found in Denton!

In addition to an impressively low cost of living, Denton offers a short commute time of 33 minutes, and convenient walking distance to the town center. Denton has two airports and two large shopping centers, and the United States Naval Academy is just a drive away. The Caroline County Public Library, the Museum of Rural Life, and the Old Harford Town Maritime Center are popular local spots, providing cultural stimulation in this richly historic town.

An exciting place to live for all ages!

There's so much do when you live in a vibrant and lively area like Denton

With beautifully constructed homes and accessible transportation options, Denton is truly a dream to live in. With a median home value of $199,100, homebuyers can experience an impeccable quality of life in an extremely affordable town, making it a great place for working families and couples. In addition, Baltimore and Philadelphia are relatively close, so getaway weekends are a breeze. Notable schools in Denton, such as Wesleyan Christian School, further distinguish the town as an exceptional location for families. Recreation is available through the Denton Plaza Shopping Center and Saulsbury Creek, while those seeking adventurous weekend plans will be more than satisfied by helicopter and ski tours by the Four Point Travel company.

Denton houses are affordable and amazingly built

Incredible buying opportunities on offer

Denton is a popular place to live these days. The value of homes has risen by 8.8 percent over the last year, and that means houses are in high demand. With many cultural and shopping centers available, it's no surprise that many prospective homebuyers yearn to call Denton home. Earnest will help you get the home you want at the price you want. With Earnest's help, finding the best deal for your dream home is a worry-free process. Tell Earnest whether you want a town that is close to a city, tucked away surrounded by nature, or maybe a little bit of both. They are home-buying experts, so sit back and let them find the home you've always wanted, but never thought you'd be able to afford. It's as easy as filling out an application with Earnest. They'll take care of the rest.

Common Questions About Buying a Home in Denton

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.