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The search for your new Dundalk home begins here

Find the home you've always dreamed of in the cultural atmosphere of Dundalk, Maryland. Dundalk is considered an inner ring suburb of the city of Baltimore, yet it has a relaxing atmosphere all of its own. Dundalk is a large town with 63,597 people, yet has a small town feel as many of the amenities and stores are within walking distance. From townhomes to homes with land, you'll find a home that fits your own personal comfort and style.

Adventure awaits you in Dundalk

From dining at inns to fishing on the Bay, Dundalk has so much to do

Dundalk is located in a great location, just outside Baltimore and located just an hour from Washington D.C. making it ideal for commuters. Dundalk is located in the Baltimore County Public Schools System, which contains a large number of elementary, middle, high schools and community colleges. With 63,597 residents, Dundalk is large enough that you'll have plenty of people around, but not too big that it becomes too busy of a city to live comfortably. According to Walk Score, many errands in Dundalk are even able to be accomplished by walking!

Find your next home in Dundalk

Affordable home loans in Dundalk are out there for you

Whether you are looking for your first home or your next one, house hunting and finding the loan for you can be very stressful. Earnest helps make this process simple and to the point. According to Zillow, market prices are expected to rise 2.2 percent in the next year, so now's the time to buy your perfect home! The current median home value in Dundalk is $132,600, making it a very affordable city for families and singles alike!

Common Questions About Buying a Home in Dundalk

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.