Alert Message

Find the right price in Beallsville

For a 30-year fixed mortgage, rates fall between 4 percent and 4.5 percent. A 20-year fixed mortgage has rates that vary between 3.7 percent and 4.1 percent, and a 15-year fixed rate mortgage fluctuates from 3.2 percent to 3.5 percent. With mortgage rates lower than the national average and rising home values, now is the perfect time to purchase a new home in Beallsville. This beautiful area provides easy access to schools and a crime rates lower than the state average.

Invest in the future in Beallsville

Making the best investment for both your loved ones and your bank account

Beallsville mortgage rates are currently lower than the national average. While the current median sales price is only $630,000, in an area brimming with happy residents, a family oriented community, and little to no crime, the median sales price of this small rural town is bound to rise. With such great rates and affordable prices, purchasing a home in Beallsville is a wise investment. Pick from a variety of single-family houses and apartments for you and your loved ones to enjoy. Though the average commute is between 45 and 59 minutes, everything else, from grocery stores to coffee shops, is within easy driving distance.

New home means new loan

Low mortgage rates and simple applications make becoming a homeowner easy

When you’re securing a home loan, you need a team looking out for your financial security and your family's future. Earnest will tell you about discounts or rates you may qualify for like veterans rates. If you’re researching Beallsville mortgage rates to refinance, the process is just as simple. Earnest looks at your needs to find the best way to free up cash for other expenses. Whether you are looking to switch from an ARM to a fixed rate, or changing your term from a 15-year to a 30-year, Earnest will show how much you can save.

Common Questions About Beallsville 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.