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Your next home is in Dickerson

Dickerson is the perfect little town for the homebuyer looking to live next to a pristine nature-filled spot. Finding your home in Dickerson is a breeze with the many homes available all within different price ranges. Your home can either be next to the Potomac River or Sugarloaf Mountain Park, it all depends if you are a land lover or water enthusiast. Either way, Dickerson is a beautiful unincorporated community ready for you to call it "home."

Dickerson is perfect for any homebuyer

When it comes to recreation, Dickerson has plenty of options available

Dickerson is located northwest of Washington D.C., making it the perfect city to settle down in for the history lover. Spend the weekend in the city, and then come back to your comfortable home. Dickerson is on the border of Maryland and Virginia, making it a special place to live with its many opportunities to get out and enjoy nature. Monocacy Elementary School has a Greatschools rating of 5/5, making it a safe place for the little ones to grow up in.

East of the Potomac River

Earnest can make your Dickerson home come true

Dickerson is located outside of a city that has everything you could desire to live comfortably. Earnest dedicates each minute to helping you find your dream home. At the forefront of our minds is your "must-haves" list of everything you desire in your home and your town. Homebuying can be a stressful process, and we're dedicated to making it as easy and as effortless as possible. Ask us about our preapproval process and visit us online begin your search. Our goal is to find you your dream home within a budget that you can handle. With home prices starting around $155,000, homes in Dickerson are a steal.

Common Questions About Buying a Home in Dickerson

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.