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Moving into Myersville made easy

Tucked between several state parks in Frederick County and just an hour north of the nation's capital, Myersville offers a community-orientated home within its population of just under 2,000. The gorgeous natural wonders surrounding the town make it easy to fall in love with the green hills and classical houses. Myersville is ideal for growing a family within a thriving town. The median house prices are on the rise, making it an intelligent investment opportunity right now.

Myersville is a city the whole family loves

Universities, parks, and creeks

With an ever-thriving population, up by 35 percent since 2000, now is the time to become a part of this small, welcoming community. Myersville is within miles of colleges and universities that offer an abundance of cultural experiences, events, and classes. Spend your weekends in D.C. or walk the streets of one of America’s colonies as you head to the Myersville Community Park. With endless facilities and beautiful scenery, you’ll never run out of things to do at the Myersville Park. Take a break and visit the preserved Little Catoctin Creek. Little Catoctin Creek is the perfect spot to visit with the kids to learn about the environment’s ecology, or for some fresh air with a beautiful view. With plenty of opportunity for family friendly outings, the whole family is bound to love Myersville.

Seamless homebuying in Myersville

Stress-free house shopping

When it comes to buying a home, the process can take some time. Myersville is full of beautiful Victorian homes and friendly neighborhoods, making the selection process a bit overwhelming. Earnest can help you narrow down the selection process by identifying your priorities (walkability, commute time, proximity to beaches, etc.) and taking into account your financial position to select your dream price. With the median house prices in Myersville around $319,600, there’s never been a better time to buy your forever home.

Common Questions About Buying a Home in Myersville

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.