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Join the Middle River community

Situated just over 10 miles from Baltimore, Middle River, Maryland, is the best of two worlds: The town offers the calm and quiet of a family-friendly neighborhood, but with easy access to all the amenities of the city. You'll have your choice day in and day out between the peaceful suburbs and the bustle of Baltimore. Middle River is close to the water and to a number of great schools--and with a range of home types, it's bound to have something to suit your needs.

Find your home in Middle River

Home values are on the rise, but the town's value can't be beat

Middle River is enclosed within just 8 square miles, housing its 26,000 residents in a small but lively location with loads to offer. The town's numerous small businesses give it both an entrepreneurial edge and a lot of personality, while families can take advantage of over 115 schools in the Baltimore area. Middle River is noted for its friendliness and accessibility to every type of resident, as well as its healthy and fit population. Though most residents are below the age of 35, the town has something for everyone--both in price and in community.

Your home has never been more affordable

Let Earnest make homeownership a reality for you

If you've been searching for a new home, you know that the amount of information required can be daunting. And if you haven't already begun your search, you might not even know where to start. Either way, we make the home loan process easy and efficient here at Earnest. We can help you analyze your best options in terms of location and budget from start to finish. Property prices in Middle River are affordable, and home values are on the rise--so the sooner you invest, the better. And remember, you'll be purchasing more than just a house: You'll be buying into a new community.

Common Questions About Buying a Home in Middle River

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.