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Find your perfect home in Tall Timbers

Tall Timbers is a delightful city secluded by several bodies of water. The town offers a range of spacious, elegant homes, with accommodations lining the Potomac River that are especially popular. New houses are always being built and plots of land are readily available, making it a great spot to purchase a brand-new vacation home. In Tall Timbers, you can buy luxurious new property with a scenic vistas on all sides. Take advantage of this market today.

Live the dream in Tall Timbers

More than just a beautiful vacation spot

Tall Timbers offers a laid back and cozy atmosphere, and the magnificent riverside properties make it a fantastic place to own a vacation home. If you are one of Maryland's many commuters, you can also live like you're always on vacation, regardless of the day. The immediate area is quaint and friendly, and you'll find endless possibilities for recreational activities throughout the surrounding St. Mary's County. Visit historic landmarks, shop, or go fishing at one of the many marinas dotting the coast. In this community, you can have the privacy and serenity of a small town without sacrificing any immediate needs. With a healthy job market and exceptional schools, it's certainly possible to raise a family comfortably. There are many great properties available for you in Tall Timbers.

A Tall Timbers home can be yours with Earnest

Secure a home loan and find your dream home

If you've got your sights set on Tall Timbers, you certainly have good taste. However, before you can purchase a house here, you must make sure you have all of the information and support you need. Secure a home loan from Earnest, and we'll help every step of the way. As you work through the process of buying your home, we will provide you with expert guidance and financial security. We know how stressful buying a home can be, and that's why we work to make it as stress-free as possible. Find your ideal home in Tall Timbers and let us take care of the rest.

Common Questions About Buying a Home in Tall Timbers

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.