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Small town, big opportunities

Sabillasville is a small community that calls out to homebuyers with quaint charm and beautiful scenery. Located inland in northern Maryland, it offers four full seasons of breathtaking nature and recreational pleasure. With median home prices below the state average, making a Sabillasville home your own is an affordable possibility. Whether you're a homebuyer looking to raise a family or enjoy your retirement, the Sabillasville community has something to suit everyone.

Welcome to smalltown USA

Tiny population, worthwhile relationships

Sabillasville is small with an area of only 1.5 square miles and a population of less than 400 individuals. The charm of this community, however, is far larger than its physical size. Surrounded by lovely parks and the larger community of Frederick County, this village is a sanctuary for families and individuals who seek the simplicity of an earlier time. It has the small town feel we think of as something out of a classic movie but it offers access to all the modern luxuries you could desire. This makes Sabillasville is an excellent location for those who want a balance between past and present, charm and convenience, quaintness and modernity. Removed from chaos and encapsulated by breathtaking scenery, this is an ideal location for families and retirees alike.

Securing your Sabillasville future

Earnest makes homebuying a breeze

Though Sabillasville's small town simplicity is what draws many residents to this community, the process of buying a home can be far more complex. With countless websites to browse and open houses to visit, being a homebuyer can feel overwhelming and exhausting and that's why Earnest is here to help. By working with you to discuss your unique financial situation and your biggest priorities when considering a new homeownership opportunity, Earnest can help you pinpoint your preferences and price range to make the process of buying a home as simple as possible. The sooner you can make it through the initial steps, the sooner you can call a Sabillasville sanctuary your new home.

Common Questions About Buying a Home in Sabillasville

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.