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Woodsboro homes you'll love

Settled at the base of the Appalachian Mountains south of the Pennsylvania border, Woodsboro, Maryland lives up to its name. The houses surrounded by rolling trees and occasional farm land combine to create a serene atmosphere at that makes the town seem quant. You will fall in love with the variety of houses, the plentiful parks, and the small town feel that Woodsboro brings.

Find a dream home in picturesque Woodsboro

Live in one of the most scenic areas in Maryland

Sitting at the bottom of the Appalachian Mountains, 15 miles from the Pennsylvania border and just 10 more miles away from the historic Civil War battlefield of Gettysburg, Woodsboro is a small woodland town with much to offer. With only 1,200 people fit into 455 acres Woodsboro offers a quiet, scenic ambiance. In the center of town Woodsboro Park is the main attraction with its abundant picnic areas, pond at the center, and sprawling foliage making it a wonderful place to spend a relaxing sunny day. The small size of the community still offers plenty of places to enjoy great food and shopping that embodies the classic idea of the American Main Street. It is the perfect place to take a breath of fresh air.

A house with a lovely view in Westboro

A house with a lovely view in Westboro

Woodsboro, Maryland is a town that really lives up to its name. The small town of just over 1,000 people placed right in the start of the Appalachian Mountains offers a space right in the middle of nature. Woodsboro Park is its jewel, sitting in the middle of town; the park is a collection of beautiful woods, places to lie out a blanket for a midday picnic, and a striking pond to look out at. The small size of the town allows you to know just about everyone in the community that will make home feel that much more amiable. Thanks to being so close to the mountains the town is perfect for people that love to hike as Cunningham Falls State Park is close and for history buffs Gettysburg is only a short drive away.

Common Questions About Buying a Home in Woodsboro

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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