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Moving to Bethlehem

For a 30-year fixed rate mortgage, rates fall between 3.9 percent and 4.4 percent. A 20-year fixed rate mortgage has rates that vary from 3.7 percent to 4.2 percent, and a 15-year fixed rate has rates that fluctuate from 3.2 percent to 3.6 percent. Potential homebuyers are thrilled when they hear about the low mortgage rates in Bethlehem. With a gorgeous view and a list of activities and attractions close by, there’s no better time to make the move to Bethlehem.

Don't miss out on these great deals in Bethlehem

A great choice for your wallet and your peace of mind

The current median sales price in the small, rural Bethlehem is $143,950. With such affordable home values and the current local average mortgage rates far below the United States’ average, Bethlehem is a great bargain and an overall great place to live. The rural landscape makes for quiet nights and stress-free days. Though this area is low on walkability, there are countless attractions within close driving proximity and a variety of schools less than 10 miles away.

Making your new Bethlehem home a reality

Whether you are getting a home loan, or looking to refinance, it’s easy

The first step to owning a new home is getting a home loan. Mortgage rates depend on your credit history, the ZIP code of your target neighborhood, down payment, purchase price, and of course, the purpose of the loan. Make sure to ask your realtor if you qualify for any discounts or special rates before choosing your rate. Happy with the home you have? Refinancing lets you put some of that money used for you home loan into other areas of your life. Important things like renovations or college tuition are within reach. Whether you are looking to switch from an ARM to a fixed rate, or changing your term from a 15-year to a 30-year, Earnest will help you find out how much you can save.

Common Questions About Bethlehem 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.