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Start your search for a new home in Upperco now

A small suburb under an hour outside of Baltimore, Upperco is a perfect option for a new real estate investment for those looking for the best mix of city and rural living. Home prices increased nearly 3 percent last year with a median home price of about $305,000. Upperco homes prices are also projected to increase again next year, making it the ideal location for your new real estate investment.

Upperco is the perfect blend of urban and suburban

Upperco is the perfect blend of urban and suburban

This small, unincorporated town straddles the border of Baltimore and Carroll county. The predominantly residential community features many different types of homes at a range of prices, making it a perfect community for a range of families, budgets and lifestyles. Less than a hour drive away from Baltimore, Upperco is only a short trip from the city's renowned attractions like the National Aquarium and Camden Yards. These easily accessible attractions are in Upperco's backyard, making it the ideal neighborhood for young professionals and families alike. Other nearby Baltimore amenities—public transit including the water taxi and metro service, the stunning Baltimore waterfront and award-winning schools like Johns Hopkins University—all add to the appeal and value of the Upperco community.

Find your dream home in Upperco today

Your perfect home is waiting with this easy home loan application

With so many nearby towns, a plethora of available housing and never ending options, finding a home in Upperco could be a daunting task. Because Upperco is a short drive away from the nearby metropolitan Baltimore area, many homes take advantage of the space with sprawling yards—some homes and lots even boast extensive acreage. This array of options and at many prices results in many factors to consider when searching for a home in Upperco. Let Earnest help you make the entire home-buying process easier than ever before. Their team will determine the most important factors for your upcoming purchase and, using their unrivaled service and technology, will help you determine your perfect price range. Earnest will work to ensure your big purchase and big move will be more seamless than you could've imagined.

Common Questions About Buying a Home in Upperco

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.