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With most of the town as a Registered Historic Site as the Union Bridge Historic District, this is a small town with charm and a great background. New and historic homes line the idyllic neighborhoods. And, the main town center features a variety of restaurants and local businesses to visit. Additionally, there is a local doctor and a dentist right in town, only a short drive away. The median home sale price is on the rise, so now is the time to make your move and buy a home in Union Bridge.

A quiet town with many amenities

Union Bridge is the home you've been waiting for

Small and close-knit, Union Bridge is the perfect town for anyone who wants a solid community to be there for them. With a variety of great local businesses to support, everything you need is only a short drive or walk away. For families, the local elementary and middle schools are located nearby in New Windsor, MD. Fortunately, the public high school, Francis Scott Key High School, is located right in town. Families looking for a great place to raise kids or retirees wanting a quiet community to settle down will love Union Bridge. With a town based on much of its original infrastructure and buildings, Union Bridge is a place that celebrates its tradition and history. With an extremely low crime rate, residents can feel safe knowing their town is secure.

Move-in day arrives faster with easy home loans

Buying a home in Union Bridge has never been so simple

Trying to find the perfect home, at a price you can afford can seem daunting. Add in competing buyers and a fast-paced real estate market makes it nearly impossible. Thankfully, you have Earnest by your side. We help you find you prioritize what you want in a home. Whether it's walkability, waterfront views, or just a home big enough to fit your whole family, we narrow it down. Then, we analyze your financial profile to determine a budget you can afford. According to Trulia, median home sale prices in Union Bridge are at $306, 250 and are expected to rise. Make now the time to invest in a Union Bridge home. The community is ready to welcome you with open arms and ongoing traditions. In comparison to the local businesses, location (one hour from Baltimore), and great schools, Union bridge is a worthy investment.

Common Questions About Buying a Home in Union Bridge

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.