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Buying your Huntingtown dream home begins here

Under an hour from Washington, D.C., and near Maryland's coast, Huntingtown is the perfect spot for ocean-loving families and commuters. In recent years, Huntingtown has been a hotbed for new homes in neighborhood developments with easy access to inland Maryland. For those without a car, Huntingtown offers buses and private vanpools for Washington, D.C., commuters.

Find your personal paradise in Huntingtown

Give yourself a break from city life

With Washington, D.C., and Maryland's coast both under an hour away, Huntingtown is the perfect spot for any commuter who wants an escape from the city. Equally perfect for families, Huntingtown has a local elementary school and high school. All of the local public schools are highly regarded. Huntingtown hosts traditional, single-family homes that will only improve with time, as property values are on the rise. Surrounded by nature, Huntingtown is a great place for outdoorsy types. And with a population of only a few thousand, you can rest assured that your local Huntingtown roads, parks, and other public areas will never be overcrowded. Huntingtown residents' median age is around 40 years old, making it a great place for families and couples looking for a nice, safe neighborhood to seek refuge in.

Buying a Huntingtown home does not have to be hard

Easier and faster, Earnest makes homebuying a breeze

Buying a Huntingtown home can be intimidating. With so many different factors going into purchasing a home, there's no reason for you to go through the process on your own. Achieving your dream home should not be about all the hoops you need to jump through. Let Earnest help you find your new home for the right price. Huntingtown is the perfect place for raising children, or settling down to retire. And with a median sales price of $425,000 and an expected value increase of 2.1 percent in the coming year, Huntingtown homes are the perfect investment for your own--and your family's--future.

Common Questions About Buying a Home in Huntingtown

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.