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Easton mortgage rates you hoped to see

With mortgage rates at their lowest, moving to Easton is your best decision as a homebuyer. Your dream of relocating to a place where the attractions and walkability make you feel like you're always on vacation can become a reality. All potential buyers should take advantage of the financial gains that can be found in this gorgeous town. Find your dream home here.

Easton is ready for you

Find your dream home

Let Easton take you away with its beautiful, scenic views and accessibility to the water. Never having to drive to get around and getting to enjoy the local beauty make buying a home here irresistible. The home values in Easton are approximately $99,500 more than the Maryland state average of $265,400. This goes to show that the economy of the local area is extremely healthy and that investment values are likely to rise! Look no further--move to Easton. Live a life you love right here.

Invest in a home in Easton

Receive a quick and easy loan

Earnest is the perfect support service for buying or refinancing your home, and Easton is the perfect place to do it. Whatever your situation, let Earnest help you get your finances in order. Make homebuying a seamless process by prioritizing your budget and needs with Earnest. If you're refinancing, help free up money for important expenses or payments like tuition or a major home renovation project. Earnest makes the process stress-free and simple, with a calculator that can help you determine your target price range. If you're looking for a personalized and simplified buying process, look no further!

Common Questions About Easton 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.