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Find a peaceful environment in Pylesville

Pylesville isn't just a place for nature lovers; it's a place where creative minds go to rest at the end of their busy days. An area such as this is hard to come by nowadays—with most jobs being city-based. It's a retreat-type area that has the makings of an older town, yet was only established in 1958. Families can look forward to the Harford County Public Schools, which has an average rating of 8/10. College attendance and graduation rates steadily climb each year.

Pylesville has a forever home waiting for you

Stability and simple living await

There is a calming effect that washes over individuals when they learn of a small, personal, and natural town, such as Pylesville. This community isn't flashy with with historic background or parks, but it's overflowing with natural wildlife, forests, and the aromas that go with a lack of buildings, monuments, parks, cars, and a constant buzzing noise in the background. An ideal neighborhood for anyone looking for a safe, peaceful environment and who enjoys getting the most for their money. There are plenty of different homes waiting for you in this wonderful town.

A neighborhood and sanctuary all in one purchase

A quiet, rural community featuring a variety of homes

Buying a home in Pylesville is not only ideal for a family, but also for single buyers. Homes in Pylesville, although moderately priced, are forever homes. This community is filled with homeowners-no renters reside in this town, which is why the area is perfect for those who plan to settle down, start a family, or simply need their forever homes to be a retreat from the chaos of their busy work lives. With the guidance and expertise of Earnest Realty, finding your affordable forever home doesn't have to be stressful.

Common Questions About Buying a Home in Pylesville

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.