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Adamstown mortgages are waiting for you

Okay so you found the home you want to grow old in? Great! Now you just need to complete the mortgage process and you will be all set to start packing everything up and reserve a moving truck! Buy a home can be a daunting process, but Earnest can help guide you through everything to make it go as smoothly as possible. Earnest will help you stay within your budget and also help you purchase the home you've always dreamed of owning!

Get an Adamstown mortgage today

Unlock your new front door with a mortgage today

Mortgage rates are sitting at just over 4 percent, with the current average rate being 4.13 percent according to Bankrate. It's a great time to invest in Adamstown, with home values on the rise and consistent and safe mortgage rates. According to Zillow, home values have increased by about 6.2 percent since last year and they are expected to rise by an additional 2.7 percent by next year! Adamstown is a safe investment for you and your family and is sure to be a lucrative one almost immediately! There are plenty of reasons to live in Adamstown but increases in home values 6 percent in a single year is certainly among them! Feel free to use our resources to help you make the best decision you'll ever make! Homeownership is something that positively impacts you forever.

Adamstown mortgages are affordable and easy

Secure your mortgage today and then start moving in

Is this your first time buying a home or have you been on this path before? Whether this is your first home or your next home, Earnest is here to help! Earnest can help make sure that you get any and all discounts that you qualify for while also ensuring that you're getting the best home you can afford at the best rate available to you! Don't get stressed. Let Earnest help guide you through everything. Earnest specializes in helping people buy their dream home! If you've been thinking about refinancing then you'll still want to call Earnest. Earnest can help make sure you get the most money so you can fund whatever life event you need money for.

Common Questions About Adamstown 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.