Alert Message

The wonders of Crisfield are waiting for you

Crisfield is a hub for tourist attractions that are waiting to be discovered by you! According to City-Data, the nearby Janes Island State Park is a place that tourists from all over love to visit to experience the swimming, camping, picnicking, canoeing, and to witness the rich aquatic life that calls this area home. There's also a large amount of fishing, annual fishing tournaments, and plenty of museums to explore! Crisfield has something for everyone.

Buy your home today!

People everywhere have experienced Crisfield—now it's your turn!

Crisfield is a great place to start or raise a family, too! According to Livability, there are many different schools to choose from, so you can pick the one that best fits your child's needs. Crisfield is a family town with almost 60 percent of households belonging to families, according City-Data. There's plenty to do in terms of fishing, water sports, and exploring the lush outdoors of Crisfield, but Baltimore is only about two hours away if you want something different. It's always nice to go on a weekend getaway and you can come home to your little getaway when you're done. Transportation is pretty diverse in Crisfield. According to Walkscore, it has a Walkscore of 57 out of 100 so you'll want a car for the majority of your citywide commutes.

Your dream home is in Crisfield

A wide range of homes available for you to pick from

There are plenty of reasons to call Crisfield your home. Income has been on the rise and continues to see growth. It's risen by almost $15,000 from the year 2000 to 2013, according to City-Data. The same source also indicates that home and condo values have almost doubled within the same time frame. As of 2013, the median value of homes and condos was almost $110,000. These values continue to grow, making now a great time to invest. Unemployment continues to decrease and there are many manufacturing jobs available in Crisfield, with plenty of other job options as well including, retail, wholesale, transportation, and public administration. Whatever your career may be, there are plenty of jobs waiting for you in Crisfield. Start searching for your Crisfield home today with Earnest.

Common Questions About Buying a Home in Crisfield

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.