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Your dream home waits in Montgomery Village

Montgomery Village offers all the perks of the D.C. area without the hindrances of living in the city. In this friendly community, you'll find houses that are spacious, beautiful, and affordable, all within a short distance from good schools, restaurants, and parks. Thousands of residents call Montgomery Village home, whether they enjoy the area for the proximity to a job or for the cheerful atmosphere. Regardless of your purpose, this suburb has the house for you.

Elegant homes, low rates in Montgomery Village

Invest in a home that's worth every penny

If you're looking for a comfortable suburb just a short distance from some of Northern Virginia’s busiest towns and cities, look no further than Montgomery Village. These neighborhoods are full of beautiful homes where families and single residents alike can find contentment and peace away from the traffic and expenses of Washington, D.C. Areas like Gaithersburg, Germantown, and North Potomac are just a few short miles away, and the commute to D.C. is well under an hour. As a member of this community, you will have access to a number of good public schools, natural landmarks like the Great Seneca Stream Valley Park, and thriving small businesses that give the community a comfortable yet lively feel. With house prices here lower than the national average, now is the time to make your investment.

Home rates are low. Buy now in Montgomery Village.

Earnest can help you take advantage of the market

Searching for a new home is a difficult process. You must consider prices, location, and personal finances, and that’s just for starters. At Earnest, we recognize the difficulties of piecing together all the information you need—and we can help you make an informed purchase. Our analysis factors in more than just your credit score; we assess your wants and needs and match them with your capabilities to find a home that's just right. Montgomery Village has the perfect house for any potential resident, and commuters, families, and single buyers are sure to find a place to call home in this beautiful Maryland suburb. Let Earnest help you make an investment you won't regret.

Common Questions About Buying a Home in Montgomery Village

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.