Alert Message

A great location with low rates

In Bryantown, you'll find a great quality of life, excellent schools, and a low cost of living. A high average household income and stable housing market make this location a great spot to settle down, raise a family, or retire. Enjoy nearby amenities and recreational activities. With lower than average mortgage rates, now is the time to find your new home in Bryantown.

Bryantown is modern yet timeless

Find a great place you'll love for years to come

Finding your dream home in Bryantown is no easy feat because it offers an abundance of beautiful colonial and Dutch style houses. At $389,600, the median sales price for homes is a bit higher than surrounding areas. But homes in Bryantown have high property values and modern amenities. The area is not particularly pedestrian-friendly, so personal transportation is a must. Homebuyers will love the convenient location with easy driving access to larger cities and nearby entertainment hotspots, including a large golfing resort and outdoor sporting venues. The cost of living is on par with Maryland's average, and the local job market is strong. Start preparing your move to Bryantown today.

Amazing rates in Bryantown

We help you get the most out of your mortgage

With so many options and so much work to be done, homebuying can be a hassle. Earnest will help you determine your target home price by factoring in key aspects of your financial profile, including location, credit score, and loan amount. We're here to help you get the best mortgage rate so you can concentrate on your move. Already living in a beautiful Bryantown home and looking for a bit of extra cash for a big purchase? Refinancing your home can help free up extra assets so you can pay for college tuition or new renovations. We'll help you figure out the best way to refinance, while saving you money. Either way, you'll be happier in Bryantown with help from Earnest.

Common Questions About Bryantown 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

People around a computer

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.