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Call Glenn Dale home today

Located in the heart of Prince George's County, Glenn Dale features top notch schools, safe and secure neighborhoods, and a historic past. Known as a Census Designated Place (CDP), this beautiful and quaint town has over 13,466 residents who are committed to community, a strong local government, hearty residential and business districts, and unique services and recreation.

Glenn Dale is the perfect place to settle

All the shopping, entertainment, and history you need

Unique museums, a shooting range, parks, golfing and more await you in Glenn Dale. The Marietta House Museum is a must-see mansion that was built for U.S. Supreme Court justice Gabriel Duvall. The plantation is rich in history and important to the local community. Prince George's County Trap and Skeet Center is a fun and safe place to rent or purchase firearms, take instructional classes, or simply go shooting. Glenn Dale Park is the perfect place to spend time with family and friends. Perhaps most intriguing, Glenn Dale features an abandoned tuberculosis sanitorium and isolation hospital. There is much conspiracy and speculation surrounding the abandoned sanitorium, and many urban explorers/conspiracy theorists believe it to be haunted. All in all, Glenn Dale combines unique charm with wonderful amenities and entertainment.

Let Earnest direct you home

Invest in Glenn Dale real estate today

Are you considering buying a home? The first step is determining your financial situation and Earnest is here to help. Depending on your current credit score, down payment amount, and situation, we can help determine your best course of action when it comes to homebuying. With housing prices expected to rise in the next year, now is a great time to invest in Glenn Dale, MD. Whatever your financial needs,the experts at Earnest can facilitate even the most stressful situations.

Common Questions About Buying a Home in Glenn Dale

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.