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Chevy Chase is the community for you.

Chevy Chase, Maryland, is a small town with a vibrant atmosphere. Surrounded by village-like neighborhoods named Chevy Chase Terrace, District Three, District Five, and more, your new home will be nestled among welcoming neighbors and active streets. With a medley of parks, hotels, schools, and transport links at your fingertips, an investment in a Chevy Chase home means you’ll never have to travel far to find what you need. Become a resident of Chevy Chase. Join the community.

Chevy Chase homes offer all you could want.

Friendly faces, scenic streets, and a great location are waiting for you.

The town of Chevy Chase is alive with cheerful commuters and active residents. Though the population numbers at just 3,000 people, Chevy Chase’s proximity to local universities like Georgetown, Howard, and Marymount adds an extra burst of activity to the already energetic scene. The town’s stunning houses afford both comfort and convenience in a location just 1.6 miles from Bethesda and six miles from Washington, D.C. Even Philadelphia is within your reach at just over 120 miles away. Chevy Chase is great for any type of resident: Families, university professors, and urban professionals have all found their homes here, without the hassle or expense of life as a city-dweller. Buy a house in Chevy Chase and find your place for life.

A house in Chevy Chase can be yours with Earnest.

The town is more than you could hope for. Your new home will be, too.

Chevy Chase is enchanting, with its historic homes and small-town atmosphere. But even if the town is perfect for your lifestyle, finding a house might be more complicated than you thought. At Earnest, we'll walk you through the entire process, factoring in your top priorities as we identify your options for homeownership. We assess your financial situation based on more than just a credit score in order to get the big picture of your lifestyle goals. In Chevy Chase, you can have the neighborhood, environment, and house you've always imagined, without the burden of getting there on your own. Earnest has both the experience and tools necessary to ensure that you make the very best investment, for now and for the future.

Common Questions About Buying a Home in Chevy Chase

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.