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Accokeek homes at prices you won't believe

Recently, housing-market rates have been historically low, but they're currently on the rise and only increasing with time. In Accokeek, houses and mortgage rates reflect the prices of the national average, but the town itself is far more than average. With historic homes and happy residents, Accokeek can offer you a house and community at a bargain, and you'll be saving tons by avoiding the prices of the city. Own your home in Accokeek while the market is in your favor.

Buy a home at a smart price in Accokeek

Accokeek has elegant homes at affordable rates, and it's waiting for you

Sometimes, convenient locations come at too high of a price. In Accokeek, you'll be getting the best of both worlds, as the town is located just a short distance away from the region’s biggest cities at a fraction of the cost of living. According to Zillow, the average home in Accokeek is priced at $335,300, or about $148 per square foot, as compared to the price of $214 per square foot in the Washington metropolitan area. Accokeek is also more affordable than the surrounding towns of Fort Hunt, Groveton, Mount Vernon and Habla Valley, so residents will be saving without making compromises. You'll have access to anything you might need in Accokeek, and traveling to and from the town is easy with a car or on public transit. Purchasing an Accokeek home is a great deal with even better benefits.

Save on a mortgage in a town you will love

Earnest can help you afford your new house Check out the rates today

If you're at your computer daydreaming about a home in Accokeek, with its lush parks, serene views of the creek, and friendly neighbors from door to door, then now is the time to invest. First, however, you'll need to secure a loan. Mortgage rates in Accokeek are around 4 percent for 30-year fixed APR, and the homes are estimated to increase in value by 2.2 percent in the next year. With an Earnest loan, you can take advantage of these prices without overspending. Refinance rates in Accokeek are low, too, with numbers at around 3.25 percent APR or 4 percent to 4.5 percent APR for 15 or 30-year refinance plans, respectively. Either way, Earnest can help you save on your investment. Join the Accokeek community, and become a homeowner in a town that’s right for you.

Common Questions About Accokeek Mortgage Rates

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.