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Perryville has homes waiting for you

"Grounded in History. Focused on the future." The motto of Perryville speaks for itself and all that this city is founded on. Located in picturesque Cecil County, Maryland and with a population of just over 6,000, it's easy to see why so many people have flocked to Perryville. You'll quickly fall in love with it's greenery and wholesome community feel. With endless activities and attractions you'll never be bored in your new home and you'll certainly never want to leave!

An outdoorsman's dream home

Perryville brags of multiple outdoor attractions that can't be missed

Perryville has countless attractions that make it such an appealing place to live. However it's most prevalent are the number of outdoor activities they have for residents of all ages! Nothing will feel better than going outside during Perryville's typically temperate climate during the summer and soaking up all that this city has to offer. Head over to the Furnace Bay Golf Course and play a few rounds on this scenic piece of land. Or is golf isn't your game, Green Bank Fishery and spend the day relaxing and casting your line. There is also the Chesapeake View Campground for those who want to test their wilderness skills and sleep under the stars. Finally if you just want a calm day outside, head over to the Holly Tree Park and see Perryville's historic Holly Tree!

Perryville has high standards and you should too

Citizen wellbeing is crucial in this community; they put your needs first

The city of Perryville makes it their mission to make sure that you are happy and healthy wherever you are. The creed focuses on five key ideal: safety, health, welfare, a standard of excellence, environmental stewardship, and a sense a community for all. This city puts its citizens first and ensures a quality standard that is a rarity today. That is what makes Perryville so unique. They have numerous city features that center around this ideal of community and citizen importance. They have a farmer's market that comes once a week to promote a healthy lifestyle, they have a family oriented way of life, and they offer a range of schooling from public schools to private catholic institutions. Perryville has all that anyone looking for a fun and safe home could want. What are you waiting for? Your dream home in Perryville awaits!

Common Questions About Buying a Home in Perryville

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.