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Barton: a small town with a large community

With a population estimate of 435 (U.S. Census Bureau), Barton is considered the "mountainside of Maryland." Filled with outdoor activities, community relationships, and great schools, this small town attracts nature-goers and history buffs alike. Between great educational opportunities and historic places, this small and safe town is a quaint yet outgoing place to look into.

Barton mountainside is beautiful

Georges Creek Valley, historic coal companies, ball fields, and more

Located along Georges Creek Valley, Barton is a hub of history and nature. Locals and tourists who visit have the opportunity to see Moores Run, where the first gristmill powered by a water wheel was built. There are four churches in the neighborhood as well as many volunteer groups for those who like to participate in charitable work. For children, two parks and lighted football fields are provided for the ultimate fun day out. Barton values community, and the town celebrates annually with "Party in the Park:" a festival that showcases crafts, food, entertainment, and a parade through the center of town. It is special events like this that make this town so unique compared to others. The average median list price in the area is $96,875, which is nearly $168,525 below the Maryland state average, according to Zillow.

Why Barton might be the best for your child

Educational opportunities that you just can't turn down

According to Livability, Barton is rated a 7 out of 10 by GreatSchools. This only makes sense as the town has an educational attainment of 94.9 percent (U.S. Census Bureau). Within Barton, there are 120 students enrolled in public school and 950 students enrolled in private schooling. Because of this, there are a multitude of students who come both from and outside of Barton in order to take advantage of their excellent education system. Living in the town gives you access to one of the largest public schools in the area, Mountain Ridge High School, as well as Bishop Walsh Private School. Come to Barton with the help of Earnest.

Common Questions About Buying a Home in Barton

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.