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Move to wonderful Greenbelt

Greenbelt offers the closeness of the city while remaining in the suburbs. Homes here offer the best of suburban life while remaining close to work. Come home and relax in the safe town of Greenbelt while being a short drive from both Washington, D.C., and Silver Spring. Greenbelt is the perfect location for you, offering countless neighborhood attributes.

Your home is waiting for you in Greenbelt

This lovely area is ideal for you

Move to the lovely area of Greenbelt, and you'll be just a short drive from city life. Whether you're looking for a single family home or a townhouse, you'll find what you need here. Close to the city but located in the suburbs, you get the best of both worlds in an affordable area. Go out for a night in the city or stay in for a quiet evening and a movie. Home values in the area are predicted to rise by 2.2 percent in the next year, so your investment in a Greenbelt home will be a wise one. Take the first step toward making yourself at home in Greenbelt today.

Homebuying is easy in Greenbelt

Settle down and relax

Don't let homebuying stress you out. With Earnest, searching for the amenities you need and the home you want couldn't be easier. By evaluating your requirements and your unique financial situation, Earnest helps you attain the loan you need to buy your perfect Greenbelt home. Don't wait any longer to get preapproved for your mortgage today. Your new home awaits you in comfortable Greenbelt, where you'll have big city amenities without the big city headaches. Join this cheerful community and watch your investment grow.

Common Questions About Buying a Home in Greenbelt

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.