Alert Message

Indian Head has the family focus you need

Indian Head has plenty of schools for families to choose from, including a few private schools with over 2,000 enrolled students. There's a lot to be found in the employment sector as well; from public administration to construction, there are plenty of career options in Indian Head. Most residents have a commute time of 25 minutes or less, which gives you more time to focus on more important things.

Good homes in Indian Head are ready for you

Is the last home you'll ever buy tucked away in this town?

Indian Head has almost 70 different restaurants for you to discover! That's plenty for you to find that special new favorite restaurant. There are also lots of grocery stores to choose from when you're craving a good home-cooked meal and a nice night in. If you're interested in finding some relaxation and fun in nature, you can always go to Diffenbach Court Park for your next outdoor adventure. If that's not enough and you want to get even closer to nature—and to the water—there's always Mattawoman Creek and Harrison Cut. These are also home to some of most popular fishing spots available in Indian Head. It's never a bad time to get lost in nature. Good times are waiting for you in Indian Head.

Invest in Indian Head

Don't pass up this chance to experience the wonders of this neighborhood

The median household income in Indian Head is greater than the national average, so if you're looking for good jobs with high wages then you can stop searching. Indian Head homes increase in value annually. You couldn't dream of a better place to call your home. Indian Head is great for you and the whole family. Good memories are just waiting to be made--you'll look back someday with a smile on your face. With plenty of different homeownership options and great prices, there's no reason not to pick Indian Head for your forever home. You're not only investing in your happiness, but you're also investing in your future financial stability by purchasing a home in Indian Head. Start your search today with Earnest.

Common Questions About Buying a Home in Indian Head

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.