Alert Message

Start here and be charmed by Kennedyville homes

Located in Kent County, Kennedyville is the perfect location for agriculture and farming. With an extensive supply of charming cottages, custom homes, and farms with exquisite views overlooking the Sassafras River, the city satisfies everyone. This wonderful community is accessible to Kentmore Park amenities and offers a convenient commute to Chestertown and Galena. Home prices are on the rise, and now is the perfect time to start the easy process of joining this small community.

The search is over; Kennedyville welcomes you home

Seasonal water views, wine tasting, and no-place-like-home cooking

Kennedyville is blessed with many charming amenities, notable places, and big families who love to enjoy the seasons in a peaceful community. The living is easy here, and this community knows how to keep busy. Residents are proud of the Kennedyville Volunteer Fire Company Station. Whether it's attending Kennedyville United Methodist Church, indulging in some incredible wine tasting at the Crow Farm and Vineyard Winery, or just letting loose at the Hopkins Game Farm, residents enjoy an active lifestyle. There's no place like home cooking at the beloved JR's at Molly's restaurant. The area has a low crime rate and a high emphasis on education.

Start the steps to make Kennedyville your home now

Low rates and a guiding hand; homebuying is easy

The Kennedyville area is convenient to many commuting destinations, has a vibrant community life with great amenities and a range of activities sure to please everyone in the family. It is a true community, and if you are looking for a small town feel without sacrificing convenience, this is where you should buy your new home. Don't let the process of getting a mortgage dampen the excitement of searching for and finding your dream home. You can get a taste of what life can be like there by using the financial calculator that we've built for you and identify the reasons why you want to buy a home, especially in this charming community.

Common Questions About Buying a Home in Kennedyville

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.