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Your path to a Keedysville home starts here

Keedysville has the charm of a small town with amenities that go beyond expectation. Near the West Virginia border, day trips or long weekend vacations are an easy drive away for Keedysville residents. Staying local can just be as fun too, though. With nine registered historic places located just within Keedysville, that alone is enough to keep history buffs and novices entertained. With a low crime rate, homeowners can feel comfortable knowing their home is safe.

Keedysville will impress any buyer

Serene and simple with charm and beauty

Keedysville is home to a variety of natural and historical sites that will keep the attention of all residents at any age. Under the town lays the Tomstown Dolomite, a rock formation that has led to the creation of a variety of caves in the town that have created some interesting attractions. Keedysville is home to the only show cave in Maryland. This cave is known as the Crystal Grottoes. These caves are extremely beautiful and will definitely keep the attention of people of all ages. Whether you visit the B&O railroad bridge, Hoffman Farm, or any of the other seven registered historic sites in Keedysville, there are sites to see for everyone. As a small town, there's close-knit community centered around the local government and other organizations that are helped build a sense of comfort and safety for everyone.

Keedysville homebuying, simplified

Home loans without the headaches

Keedysville is home to a variety of different types of homes. There's also the opportunity to build your own house in Keedysville with the many plots of land available for purchase. Finding exactly what you want at the right price is no easy feat. However, Earnest is here to help you find what you really want a home and what you can exactly afford. We make the home loan process easy, simple, and fast. No hoops to jump through, and no hidden obstacles. And with Keedysville homes at a median sales prices of $277,224, according to Trulia, now is the time to take advantage. Because, according to Zillow, prices are expected to rise by 1.2 percent throughout the coming year.

Common Questions About Buying a Home in Keedysville

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.