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Finding your home in Jarrettsville, Maryland

Tucked away in the upper corner of Harford County lies the city of Jarrettsville. This best kept secret in the state of Maryland is located just north of Baltimore, and is filled with gorgeous houses, luscious green lawns, and heaps of small town charm. With places like Rocks State Park, a thriving recreation complex, local eateries, and amazing scenery, Jarrettsville is a place you will never want to leave. In fact, you just might start wanting to call Maryland’s hidden gem home sweet home.

Get ready to call Jarrettsville home

Maryland’s best kept secret can now be yours

Jarrettsville is just the place to start looking for your new home. Not only is it beautiful, but this area is filled with beautiful houses, rolling green lawns, and a feeling of peace found nowhere else. Whether it’s enjoying a meal at The Jarrettsville Pit, browsing the Jarrettsville Creamery and Deli, getting your exercise in at the Jarrettsville Recreation Complex, or simply relaxing in your new home, Jarrettsville will grab hold of your heart and never let go. This area is just secluded enough to provide one much needed peace and relaxation, but not so removed as to make travel a hassle. In fact, the average commuting time to work is only around 30 to 34 minutes. So if you're looking for a place to settle your family or simply find some peace of mind, Jarrettsville might just be the place you’ve been looking for.

Make the move to Jarrettsville today!

Earnest can ease your homebuying worries

With the area’s median house price on the rise and the mortgage rates in Jarrettsville at an all-time low, now is the time to look into purchasing your new home! Whether you're an experienced homebuyer or just beginning your own homebuying journey, the road to buying a new home is filled with excitement. However, with multiple neighborhoods to explore, an ample selection of houses to choose from, and a list of different amenities to prioritize, this exciting process can soon become filled with frustration and confusion. Discover an easier solution with Earnest. Earnest not only provides an easy-to-understand online application, but they also help you identify your priorities, and will work with you to determine your target home price according to your own unique financial profile.

Common Questions About Buying a Home in Jarrettsville

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.