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Your search for a Churchton home starts here

A beautiful coastal town in Maryland, Churchton offers all of the amenities of a small town, with the close proximity to cities. Under an hour drive from Washington D.C. and Baltimore, and only 30 minutes from Annapolis, Churchton is an ideal town for homeowners that need city accessibility but want to avoid the high costs. According to Zillow's, home values are on the rise, marking now as the right time to invest in a Churchton home.

A coastal town with all four seasons

Enjoy Maryland's coast in winter, spring, summer, and fall

Sitting right by Maryland's coast, Churchton offers waterfront and city accessibility at an affordable price—a rare combination on the East Coast. Whether you're looking for a weekend getaway home, a relaxing community to settle down in, or a home to raise a family, Churchton is the place for you. While there are no public schools within Churchton, there are great local, public elementary, middle, and high schools all in nearby neighboring towns. And, with low local crime rates, Churchton residents can feel comfortable knowing they are safe in their homes and their town. With a wide catalogue of traditional single family homes available for sale, and a median home sale price of $299,900, now is the right time to invest into a Churchton home.

Move-in day is getting closer

An easy application and affordable rates you shouldn't ignore

Your Churchton home is waiting for you! You just need to find it first. And after comparing so many different websites, houses, and neighborhoods your future home may seem farther away than it really is. Thankfully, Earnest is here to help you find your priorities that you need in a home, at the right price you can afford. With median home prices in Churchton at $299,900 in November 2016, and home values expected to rise by 3 percent over the coming year, it's never been a better time to buy in Churchton. So, let Earnest help you make it one step closer to move-in day.

Common Questions About Buying a Home in Churchton

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.