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Low rates in Marydel make dreams come true

Marydel offers extremely low rates to potential homebuyers. This small town hosts a variety of home options, all complete with a large yard great for families with small children. The versatility and small-town feel of this cozy community might even make your decision a difficult one. Which house should you choose when they're all amazing? If you need help deciding, Earnest is here to help.

What you can afford Marydel?

Single family homes, condos, and townhomes

Marydel offers a variety of homes in traditional and ranch styles to accommodate any type of buyer. Or, if you're looking to design your own home, look no further--there are numerous lots for sale where you can make your mark. Get creative with your space and build the home of your dreams. Prices are low and mortgage rates are affordable: Marydel's median home value is just $123,400. So what are you waiting for? This tiny town will give you a big welcome. Join a tight-knit community in Marydel with help from Earnest.

Marydel is what's best for you

Earnest is here to help

Whether you're looking into purchasing an existing home or building one of your own, Earnest provides home loan support to suit all needs. With top-of-the-industry mortgage experts on staff, we pride ourselves on trustworthiness and timely service. We want to give you the tools to build your future in the home of your dreams. Check out our easy-to-use mortgage calculator to determine your target price range. When you're ready, we'll work with you to calculate your ideal mortgage rate based on factors such as the purchase price of your preferred property, your down payment, and your credit score. If Marydel is right for you, then Earnest is, too. Invest today with our help and watch your assets grow.

Common Questions About Marydel 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.