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Make Fruitland your home today

Fruitland is a great place to live. It's both comfortable and affordable. According to Trulia, there's less crime and more affordable housing than other parts of Maryland, and there some beautiful homes and nice schools that families will enjoy too! According to City-Data, over 60 percent of homes are owned by families. It's things like these that make Fruitland such a sweet place to live, whether it's just you or a whole family.

Fruitland is waiting for you to come home

A nice place to live with unique and affordable homes!

Fruitland has what you need to have a great life. Work is great in Fruitland, with an average commute time of 20 minutes according to City-Data and plenty of different types of jobs available as well. From construction to manufacturing to administrative work, Fruitland has all kinds of great, high paying jobs. Walkability reports that Fruitland has a score of 56 out of 100 and that some errands can be done without a personal vehicle, but it's still recommended to have one if possible. City-Data reports that there are over 60 restaurants in town, which considering Fruitland's size, is a pretty high number! Fruitland also has convenient access to colleges with four of them being less than 30 miles away!

An inviting and comforting town

Come live in Fruitland today

If you're craving the big city for a day or even a weekend, Fruitland is only about 75 miles away so a family drive could always turn into a fun time in the city. There are plenty of attractions in Fruitland that you could enjoy, like its many shopping centers and parks. Fruitland has a lot of attractions that can be enjoyed by the whole family too. It's right near the water and there are plenty of areas to enjoy it! Boats, golf, swimming, and sunbathing are just some of the many things you can do in Fruitland. There are many types of homes but they're all nice! Trulia reports that there are homes all the way from $30,000 to almost $2,000,000. Luxury and affordability are here, no matter what house you're looking at!

Common Questions About Buying a Home in Fruitland

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.