Alert Message

Ijamsville: Your best investment

Ijamsville home values are on the rise in Frederick County and now is the best time to buy a home. Bel Air has something to offer all potential buyers, whatever your interests are.

Affordable Ijamsville properties you will love

Ijamsville: Come on home

The median listing price of an Ijamsville home is $431,300, according to In just the past year, the value of a home in Ijamsville has increased by 6.7 percent. This figure is expected to increase by 2.9 percent over the next year making now the right time to invest in the area. The median listing price of an Ijamsville home is approximately $165,900 more than the Maryland state average. Owning a piece of property in the Ijamsville area is worth the cost due to the tremendous investment involved with projected value increases. While it is a walkable city, most residents get around via car. Low crime rates and a steady economy make the area an excellent place to raise children. Let Earnest make it easy to call Ijamsville home and find a home that works with your budget and household size.

An affordable home is around the corner

Let Earnest take the stress out of purchasing a home

Ijamsville has everything you need for a peaceful, cultured and tight-knit community to call home. Streamline the process from the beginning by using our signature loan calculator to start your search. During your search, be sure to work closely with your realtor to determine if there are any potential discounts or quirks of certain homes. Even if you already own an existing mortgage and you wish to refinance, Earnest is here to offer invaluable insight.

Common Questions About Ijamsville 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.