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Come and buy your next home in White Marsh today

White Marsh is growing in median income and home values. Median income in 2013 was $20,000 higher than what it was in 2000. Median home values have increased by over $100,000 since 2000, which makes White Marsh a perfect place to invest in for singles and families alike. You can find the home that you've always wanted that's also sure to continue to rise in value over the years. The town of over 9,500 residents also boasts the upscale White Marsh Mall.

White Marsh has homes you never thought possible

Waiting for you to come home

Featuring one of the largest malls in the state, White Marsh has great shopping options close to home. Area employment includes manufacturing, construction, retail and administration. Unemployment has dropped more than 3 percent since 2010 and continues to fall. Many residents have between 20 and 40 minutes for their commute time to work but there's a portion of residents that enjoy less than a 10-minute work commute. Walkability is low, so White Marsh residents need cars. But the town offers bike paths and walkable areas.

Your next home is ready for you in White Marsh

Unique and humble homes that continue to rise in value

White Marsh began life as a planned community in the mid twentieth century. You can still plan on a great life there. Families with children can choose from a wealth of private and public education options. In addition, seven colleges with over 2,000 students are within 15 miles of White Marsh. With the White Marsh Mall inside the town borders, there are over 350 restaurants to enjoy nearby. You and your family will have plenty of dining options.

Common Questions About Buying a Home in White Marsh

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.