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Get your Halethorpe house at a great price

If you're a Baltimore commuter or simply looking for a house at a bargain, Halethorpe has you covered. With many houses built just after the 1940s, the area feels both historic and energetic. Because the town is incorporated into the Baltimore Metropolitan area, you won't have to give up your life in the city, either. Take one of the town’s many public transit options into the busier parts of Baltimore, or stay in peaceful Halethorpe. Either way, you'll feel at home.

A home in Halethorpe can be yours today

Invest in this Baltimore suburb now, while prices are low

As a future homeowner in Maryland, you know that the prices can vary drastically from town to town. In Halethorpe, you can be assured that the price of your home will be within your budget. As of 2016, the price of a Halethorpe house was estimated at just over $191,800, far less than the average price of a home in the Baltimore metropolitan area, Hanover, Severn, and Elkridge. Here, you'll have access to the Downtown Arbutus line and many public transit options into Baltimore, facilitating an easy commute into the nearby districts. Furthermore, you'll be surrounded by young and active residents in an area that is growing steadily by the year. Houses in Halethorpe are affordable and valuable, so take advantage of this deal while the markets are low. Begin searching now for the home you belong in.

Invest in Halethorpe with support from Earnest

Earnest can help you finance your new investment

Halethorpe may be a low-cost area, but you'll need help to become a homeowner in this Maryland suburb. Before making your purchase, you must research specific neighborhoods, available public services, transit times, and projected housing market rates. At Earnest, we have you covered, with attentive and knowledgeable analysts to help you discover all you'll need to know before investing in a new house. We look at your credit score and beyond, comparing your financial status with your checklist before advising you in any direction. At Earnest, we want to help you secure the loan that will make homeowning your future. Halethorpe is a wonderful place with great people and great prices. This may be exactly what you're looking for, so let us get you there with our advice and financial support. Choose Earnest—and Halethorpe—today.

Common Questions About Buying a Home in Halethorpe

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.