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Great homes and prices await you in Brunswick

There's never been a better time to invest in your future in Brunswick. According to Zillow, home values have increased by 6 percent in the last year and are expected to continue to rise by an additional 3.3 percent next year! Homes cost less than the average Washington home by almost $90 per square foot but the value continues to increase, making it a perfect time to purchase not only your next home but also your best investment in Brunswick.

Get your mortgage in Brunswick

Earnest makes securing your mortgage as easy as possible

According to Bankrate, now is not only a wise time to invest but also a safe time to do so. Rates are sitting just under 4 percent for a 30-year fixed mortgage. Home values have been steadily increasing for the last few years but especially since 2015 according to Zillow. Now is the perfect time for you to take the next step and secure your family's future with one of the best investments you could ever make. Brunswick features beautiful homes in a prosperous city and state that continue to rise in value year after year—and it's expected that they'll continue to do so for years to come! With great opportunities everywhere you look in Brunswick—from income to home values to employment and to things to do—there's no greater city to invest in for a great future!

Let Earnest help you find the perfect home today

There are plenty of different options waiting for you in Brunswick

If this is your first time buying a home, there's nothing to worry about! Earnest has a calculator at the bottom of this page that can help you determine what will best fit within your budget and there is plenty more help available to you! Earnest specializes in finding mortgages that will get you to what's important and get it to you quickly. The most important part of your home is what you do to make it home and enjoying it with you or the whole family. Earnest can help you get your mortgage all taken care of and find the best mortgage and home to meet all your needs and wants! If you've been thinking about refinancing your home then Earnest can help with that as well! Earnest is great at getting your refinancing plans in order and getting everything finalized so you can get to utilizing that extra income for your next big adventure!

Common Questions About Brunswick 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.