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Don't wait, make Darlington your home today

Nestled up to the Susquehanna River, Darlington, Maryland is home to over 100 historic properties. It is located nearly equidistant between Washington D.C. and Philadelphia. Although small, Darlington is full of history and charm and makes up for its lack of population with its variety of hiking trails, dams, and association with being on the national list of historic attractions in the U.S. There are so many different types of homes and reasons to call Darlington your home today.

Darlington is the place for you

Start your journey towards comfort today

Located just a few miles from the Susquehanna River, and a short commute to a variety of amenities in surrounding areas, Darlington is perfect for families and singles. It even attracts 60,000 visitors each year for its annual apple festival! This town is full of history and it's something that's recognized nationally. Residents take pride in being a part of a nationally recognized historic town. With just a quick commute in or out of the town, residents of Darlington can get to work and check out additional fun things to do. This quaint rural town is ready for you to call it your home.

Darlington mortgage rates made easy

Ease your homebuying journey

Whether you are purchasing your first home or previously have homeowning experience, it comes as no surprise that financing or refinancing home can be a stressful feat. With that said, at Earnest, we know all that it entails to purchase or refinance a home, and we strive to make this process as less stressful as possible to accommodate all of your homebuying needs. Don't miss out an opportunity to invest during a time when home values are on the rise.

Common Questions About Buying a Home in Darlington

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.