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Barton features steady rates

Barton has a total of 257 approximate housing units, based on information provided by the U.S. Census Bureau. The town offers a variety of homes from ranch to colonial that can suite any consumer. Go "off the grid" and experience small town living with nearby city attractions. Call Barton home today.

Homes in Barton take you off the beaten path

Find your favorite home off the grid

Considered a mountainside town, many of the homes in Burton are ranch style. Less publicity can sometimes mean a lower price, especially if a home is under foreclosure. Once you find a home, the high degree of privacy will be perfect for ski and camping trips with friends and family. The median household income in the area was $48,980 in 2013, according to city-data.com. This is a huge increase from what it was in the year 2000: $30,104.

Researching to find your perfect loan in Barton

An off-the-grid home doesn't require off-the-grid rates

Barton is definitely a town worth considering if you're the outdoors-y type. Although a small town, starting your home search can still be a difficult and long process, so be sure to do your research beforehand. This includes planning your budget. Be sure to investigate what you can afford before you fall in love with something unreasonable. Earnest can help you with this as they keep you on track and make your homebuying process easier. Buying a home and refinancing are very similar processes, as they both involve a large amount of stress. Earnest exists to ease this worry and make your transition a simple one.

Common Questions About Barton 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.