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Homes in Linthicum Heights are waiting for you

If you want the benefits of living outside of a major city but not directly in it, Lithicum Heights is perfect for you. Lithicum Heights is located right outside of Baltimore, making it great for commuters. The population of Lithicum Heights is around 10,000—it's a small city with a big heart. If you like to travel, you also have the benefit of living within driving distance to the Baltimore-Washington International Airport. Read on to see why 10,000 people call Lithicum Heights home.

Lithicum Heights has plenty of entertainment

Near beautiful parks and national historic monuments

Being minutes outside of Baltimore you will receive the many benefits of living next to a major city. Escape to a luxury restaurant or a historic street in Baltimore and experience the city life. Once you are done you can come back home to your beautiful town and your new move-in ready home. Linthicum Heights is also only minutes away from the Patapsco River offering many different opportunities right outside your home to be in nature and get plenty of exercise. Not to mention that Lithicum Heights is only about 32 miles away from one of the most historic cities in the U.S.A, Washington D.C. If safety and great schools is at the top of your priority list, Linthicum Heights will supply it offering a variety of 4/5 star rated education services.

Right outside of Baltimore

Your perfect suburb home is waiting

Lithicum Heights is waiting for you and Earnest is excited to welcome you home. The home buying process should not be stressful and Earnest is dedicated to helping you throughout it all. We understand that safety, amenities, school district and bang for your buck are at the forefront of your mind when it comes to home buying. With the medium home price for Lithicum Heights being $269,900 according to Trulia we can truly make your dreams come true. We will guide you through the loan process, application, and everything you need to know to make this a simple and fun process for you.

Common Questions About Buying a Home in Linthicum Heights

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

People around a computer

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.