Alert Message

Let Sunderland show you what it has to offer

Sunderland is an unincorporated town in Calvert County, Maryland. In addition to its small-town charm, Sunderland also has sites (including the All Saints' Church) that are listed on the National Historic Registry. Nearby towns provide post offices, hospitals, and schools, so you are not ever far from anything you need. And, it's near the bay! You'll also love the proximity to Baltimore, Annapolis, and Washington, D.C. Make Sunderland your home.

Make this town your home today

You can capture the moment every day in Sunderland

This small but engaging town is one to have on your short list. Sunderland can pop your eyes out with its delightful homes available on the market. Wide open spaces make it convenient residents. Home values are rising by 2 percent within the next year, according to Zillow. The median home value of this desirable location is $384,800. This value has already increased 1.6 percent in the past year. Earnest can help make your dream home a reality. Try our easy-to-use calculator to get started.

Sunderland is only getting better

Plenty to do here

It’s not just a pretty location, Sunderland has so much to do! Nearby restaurants, cafés, bars, grocery stores, parks, schools, shopping, and entertainment are just some of the activities available in the Sunderland area. Most of the surrounding neighborhoods have a higher sales price than Sunderland, although this could change in the future. It’s a rural town that people love, and it outshines Brighton Woods and Meadow Run Park in terms of price over quality. Since it will only get more expensive, let Earnest help you find a rate that works for you.

Common Questions About Buying a Home in Sunderland

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.