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Ladiesburg homes are waiting for you

Ladiesburg is right in the middle of Maryland's beautiful rural land. It may be a small town but there's some rich character in Frederick County and nearby Carroll County. The houses lining the quiet country roads range from old-fashioned farm houses to recent constructions. Ladiesburg is an affordable cluster of families enjoying living among the natural wonders of Maryland's great open spaces.

Come on home to Ladiesburg

There's much to discover in this small town

Ladiesburg may be a small and unincorporated town in Frederick County but it has charm and character to spare. Located in the outskirts of the Washington-Arlington metro area, it’s a quiet small town near the power center of the nation’s capital and close to the borders of Pennsylvania and Virginia. Local legend has it that the town got its name from the high ratio of women to men when the town was founded.

Don't be shy, make Ladiesburg your home

Find the home you've always wanted

There's a wide range of homes to choose from in Ladiesburg and in the surrounding areas. Prices currently range from $20,000 to $11,000,000 in the values they're selling at. It's a healthy range that helps show how many different and unique homes are available. Middleburg and the surrounding towns are family-heavy areas that exude both joy and warmth. This helps make the neighborhoods that much safer and friendlier. Families own over 60 percent of the homes in Middleburg. As far as public transportation goes, there's an Amtrak station in Middleburg that features free parking and access to the intercity bus service.

Common Questions About Buying a Home in Ladiesburg

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.