Alert Message

Start planning your future home today

Located in central Maryland, Stevenson is the perfect place to live if you are looking to get away from the hustle and bustle of the city. This is a great area to start a family and to find your dream home. Stevenson is just a short 12-minute drive to Baltimore for easy commutes or a night on the town. Trulia is showing a steady trend in the increase of home sale prices in this area. Since the market is on the rise, now would be the perfect time to start your search for your future home.

See how far your money goes in Stevenson, Maryland

See what small-town living is all about when you own your own home

Situated just 13 miles north of Baltimore, Maryland, Stevenson is a great place to live for those who are looking to raise their family or for those looking towards retirement. The population of the area is just above 300 so it's a small community. That said, there is no need to sacrifice the amenities of the big city when you choose Stevenson. With the location of this town still being fairly close to a major city, people who work in Baltimore can commute quickly from their home to work with little stress and in good time. An occasional weekend away or night on the town is also easily arranged. Stevenson offers large plot sites, making it attractive to those who are looking for lots of land for their family to enjoy. Stevenson is the perfect place to find an amazing single-family home to create wonderful memories in.

Stevenson offers a lot for less money

Invest in a new property for your family fast with help from Earnest.

Imagine living outside of the city on a beautiful piece of land in Stevenson, Maryland. This area allows you to be close enough to a major city, but just far enough away to escape its hustle and bustle. Imagine throwing a football around with your kids in your backyard or enjoying a nice fire outside. Stevenson’s small town lifestyle will give you the chance to relax at home with your family while enjoying your home. If this is your first time buying a home Earnest will walk you through every step of the homebuying process. Let us show you that when you put your trust in Earnest, it will be something that you will not regret. Don't let the lengthy process of home buying stop you from making your dreams become a reality.

Common Questions About Buying a Home in Stevenson

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

People around a computer

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.