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Invest in an Ingleside mortgage

Maryland is a beautiful place to live, with great natural beauty, rich tradition, and a strong sense of history. Maryland homes have increased in value by over four percent in the last year alone. Zillow predicts that they'll grow by almost three percent within the next year alone. With rates this affordable, the growth is almost guaranteed.

Invest in Ingleside today

Let Earnest help you purchase an investment in Ingleside

Rates are more than affordable in Ingleside. Maryland is already an affordable place to live but you can get a mortgage in Ingleside with a rate as low as 3.9 percent with a down payment of only 20 percent. Mortgage rates can always differ in your favor based on your credit score, down payment, and many other factors. Earnest can help make sure that any and all applicable discounts are applied and that you get the lowest rate that you qualify for. Purchasing a home in Ingleside can help secure an investment for you that is bound to grow for decades yet to come, all while living in the middle of the beauty and comfort of Maryland.

Affordable mortgages are in Ingleside

Let Earnest help you purchase your forever home in Ingleside

Buying your first home can be intimidating. That’s unfortunately often true for your next home, too. It's a big decision and investment. Earnest can help you through this long and winding process. Earnest can help get you the best rate and make sure you find a home you love that’s within your budget. Get the home you've always dreamed of owning at the best possible rates. If you're only thinking about refinancing then Earnest can help with that as well.

Common Questions About Ingleside 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.