Alert Message

Your comfortable home awaits in Henderson

Henderson is just outside of Delaware, east of Washington D.C. This small town offers plenty of growing opportunities for the family who are looking for a small and comfortable place to live. Henderson presents a range of real estate options that you can use to make your dreams of comfortable living come true. With only a population of about 143 according to, since 2014, home prices are more affordable than ever. Find your lot of land and first time home in the city of Henderson.

Your next memories begin in Henderson

Live in quiet comfort

Living in Henderson gives you a small town feel and provides plenty of homeownership opportunities for the first time homebuyer. The city itself has numerous vacant properties under foreclosure and for sale. Some need work but with a bit of attention and care they will shine with real charm and with the addition of your personal taste can easily become your dream home. The many recreational opportunities can be found in nearby cities such as Churchill and Centerville but the true city life is in Washington D.C. about an hour and a half away. The nation's capital boasts everything from nightlife to luxury restaurants, plenty of museums and sporting events. Henderson allows for the comfortable quiet living you may be looking for while offering plenty to do nearby.

Your Homebuying needs in Henderson made simple

Ernest fulfills every homebuying need

The small town feel can truly enhance the quiet livability experience a first time homebuyer may be looking for. According to census data, Henderson is only occupied by about 150 people but the expected conveniences are available. Greensboro elementary schools and Sudlersville Middle School are within a ten-mile radius. Washington D.C. is a hop over the Chesapeake Bay, allowing you to experience city life at its fullest. Also nearby, various healthcare and hospital facilities like the Chester River Hospital center and the Smyrna & Wellness Hospital. All you need to live comfortably is within easy reach of your beautiful home in the city of Henderson. Homebuying is an easy and swift process with the many comfortable home options available and Earnest will make the process simple and easy.

Common Questions About Buying a Home in Henderson

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

People around a computer

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.