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Thurmont has everything that you're looking for

Thurmont is a cozy town situated in the northern part of Frederick County, rife with both historic homes and a vibrant atmosphere. It sits only 10 miles from the Pennsylvania border, making it the perfect town for those who want to experience the best of both worlds. Thurmont homes are stunning and surrounded by beautiful nature and wildlife.

Discover Thurmont's charms

Natural attractions are its biggest gem

No doubt, Thurmont is an increasingly popular location to purchase a home. Not only is it close to beautiful waterfalls and state parks, but it's also close to Camp David, the well-known presidential retreat. Catoctin Mountain Park is one of Thurmont's greatest natural features--but since this town is geared toward those who appreciate the gifts of nature, it should come as no surprise that Thurmont has multiple parks. Thurmont's orchards will stun, and its wineries and distilleries will impress any visitor roaming the area. In addition to its impressive natural attractions, Thurmont offers an urban, contemporary atmosphere with noteworthy local restaurants and amenities. The town may be on the small side, but it sure does have something to please everyone.

Find out Thurmont's main attractions

The local Main Street will impress any visitor with its historic flair

A visit to Thurmont isn't complete without checking out historic Main Street. Graced with beautiful stores and festive events, Thurmont's Main Street is naturally a popular hit among residents and newcomers alike. One of the greatest treasures is the local farmers market, a popular community gathering where locals enjoy fresh, local produce from Maryland soil. Thurmont's residents are incredibly active members within the community, and thanks to them, there's always something fun to take part in. Scavenger Hunts, Saturday Strolls, and Furmont Days are just a few of the traditions that locals participate in each year. Such active residents allow for an abundance of activities for everyone to enjoy, as well as lending a genuine authenticity to the area that makes new homeowners feel welcome here.

Common Questions About Buying a Home in Thurmont

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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