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Emmitsburg has rich history and a bright future

Emmitsburg has a rich history rooted in both the French and Indian War and the Civil War. There's a lot of beauty to take in, and it doesn't cost a lot to live here either. There are many different kinds of homes in a wide range of options and prices. There is lot to experience in and around Emmitsburg.

Get ready to move to Emmitsburg

Discover and experience this lovely town

There are so many different types of homes available to choose from in Emmitsburg. According to Trulia, homes start as low as $25,000 and go as high as almost $600,000. It just depends on what you're looking for and what you want out of your home. Many of these homes are luxury homes and would go for much more if they were in a larger city. Emmitsburg may be smaller in size, but it makes up for it with its location near larger cities—still with incredible homes for sale at very affordable prices! There are many 4-bedroom ranch style houses that sit on a respectable amount of land that range from $200,000 to $500,000. Emmitsburg homes have character in all the right places and there are many unique layouts to be discovered!

Move to Emmitsburg today

Experience all that this small town has to offer

Emmitsburg is a safe town with a family focus. According to Trulia, Emmitsburg is extremely safe and has a low crime rate. It's one of the safer places to live in Maryland, so you can take comfort in knowing that your family is safe. There's also lots to discover and do according to TripAdvisor with the most popular destinations being the Mason Dixon Welcome Center, National Shrine Grotto of Lourdes, Emmitsburg Antique Mall, and many other landmarks that people from all over the country come to see. Emmitsburg is a strong town and it really embodies the American spirit and way of life. According to Trulia, the median income is $62,500 and 84 percent of residents are homeowners. Join the hardworking and happy residents and own a home in Emmitsburg today!

Common Questions About Buying a Home in Emmitsburg

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.