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Buy a District Heights house and find your home

Whether you work in Washington or just want in on the action of the D.C. area, District Heights is the place for you. This small, urban community may be just a short drive away from the busiest parts of Maryland and Northern Virginia, but District Heights has a charm all its own. Here you will find parks, schools, and neighborhoods to your liking, not to mention beautiful, affordable homes. Choose a house where you'll be happy. Choose District Heights.

Your home in District Heights is waiting for you

Take advantage of all the benefits of belonging to District Heights

District Heights has everything you could possibly need, all within a square mile. The local population is just over 6,000, yet the community is home to many small businesses and services. No matter what neighborhood you choose, you'll be close to public transport into Maryland and D.C., as well as hospitals, schools, and other downtown centers in nearby cities. District Heights home values increased by about 11.3 percent last year alone, and they are predicted to grow by another 3.8 percent in the months to come. District Heights homes are worth $212,600 on average, so you'll be saving exponentially by choosing to live just outside of D.C. instead of in the heart of it. Become a District Heights resident while the houses are still affordable, and you'll be investing in a home both for now and for the future.

Choose your District Heights home with Earnest

Homeownership doesn't have to come later

The price tags on houses in Washington and Maryland can be overwhelming, but buying a home doesn't have to be. We know that the search can be a challenge, but with our help you can see exactly where your financial situation and your lifestyle needs meet. We take all your top priorities into consideration, as well as any factors you may not have thought of yet, and then work with you to find as many options as we can. District Heights, with its many amenities and convenient location, could be the community for you--but the price of a home there is likely to increase by the week. With Earnest, you can live the city life at a lower cost in District Heights. Find the right house, in the right place, right now.

Common Questions About Buying a Home in District Heights

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.