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Buying your new Kitzmiller home begins here

Kitzmiller, Maryland continues to provide an open community, with safety and great neighborhood attributes responsible for how great the city is. Maryland is not only an affordable place to live, but it's also a safe and beautiful home filled with rich history and wonder. This is achieved with its low unemployment rate and over 70 percent of homes being family owned. The family friendly atmosphere is what keeps this town so happy and safe.

Kitzmiler endures all seasons

Beautiful weather all throughout the year

Kitzmiller homes are both beautiful and affordable. According to Trulia, there are many different types of homes to choose from. If school is important to you, there are six colleges that are less than 60 miles away so it's not difficult to enjoy the low cost living of Kitzmiller and continue your education. There's a lot to discover and experience in Kitzmiller and the surrounding areas. City-Data reports that there are over 20 restaurants to enjoy. There are plenty of attractions nearby, too. You're less than 100 miles from Pittsburgh, Pennsylvania, and there's plenty to discover and enjoy. Museums, shopping centers, the Carnegie Science Center, the Sandcastle Waterpark, and much more are waiting for you whenever you want to get away for the day. You can always come home to your personal sanctuary when you're done in the big city.

Buying a home in Kitzmiler from start to finish

The home of your dream awaits you in Kitzmiller, Maryland

Life continues to improve for residents of Kitzmiller. Affordability and comfort have always been staples of living in Kitzmiller, but it's improving in many other ways as well. According to City-Data, median household income has increased by almost $10,000 since 2000 and median home values have more than doubled in value in the same time frame. Word travels fast and one of Maryland's secret getaways won't be a secret for that much longer. The same source reports that Kitzmiller's population has increased by 3.6 percent since 2000 and as long as things keep going the way they are, it will likely continue to grow year after year. Residents are able to enjoy a low cost of living without being too far away from everything. Most residents have a work commute time of 34 minutes which gives them plenty of time at home with those they love.

Common Questions About Buying a Home in Kitzmiller

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.