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Great value in a town with charm

For those wishing to find a home away from the hustle and bustle of large cities, Rohrersville is the place for you. With only 30 minutes away from the nearest cities Hagerstown and Frederick, Rohrersville provides the tranquility many search for, yet provides an array of options for entertainment nearby. Homes in Rohrersville are projected to increase in value, so now is the time to look into them.

Rohrersville: a great place for a private retreat

Own your home and experience the tranquility of small-town living

Rohrersville offers the ideal place to both get away from it all and have it all at the same time. For those who enjoy nature, it's a great place to hike nature trails and take in scenic views. With a population close to 100, Rohrersville provides a small, friendly ambiance and charming homes. With schools only a few miles away, Rohrersville is ideal for families and as it is within easy reach of several nearby cities, commuters will find it useful as well. Homes in Rohrersville can range from historical colonial homes, to large farms with many acres of land. A 30-minute drive means nightlife and entertainment in nearby Hagerstown and Frederick. There is something for everyone here.

A dream home in Rohrersville is closer than ever

With Earnest, purchasing a home has never been easier

Buying a home can be overwhelming, even when you are looking in a small town like Rohrersville. But the process does not have to be the daunting series of tasks you might expect it to be. Let the professionals take care of the hard part of this process while you enjoy your excitement of searching for and owning your dream home. With various online tools and years of experience, Earnest makes it not only accessible to find the answers you are looking for, but easy to find solutions as well. With the values of homes steadily increasing in Rohrersville, now is the time to make that investment, and Earnest is who to call.

Common Questions About Buying a Home in Rohrersville

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.