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Don't wait any longer to move to Chewsville

Ranking #14 in City-Data’s “Top 100 Cities with the Biggest Houses,” you won't want to miss out on this amazing chance to buy a new home in Chewsville. Choose from the city’s selection of available single-family houses and spacious apartments. Whatever you're looking for, Chewsville has the perfect home for all your needs. And with mortgage rates as low as they are, there’s no better time to buy. We have even included this easy-to-use calculator to help you get a jump start on the process.

Invest today in Chewsville, Maryland

A home purchase in Chewsville is an investment in your future

There is no better time than now to purchase a new home in the community of Chewsville. As it stands, the current median home value in this small city is $196,000, and Chewsville mortgage rates are lower than the national average, making a purchase here not only a good decision, but a smart investment. While walkability is low in this small city, everything you need, from schools to grocery stores and parks, is all a quick and easy drive away. And with an average commute time of 5 to 15 minutes, moving here allows residents the peace and quiet of this lovely community while also providing easy access to activities and attractions. Keep in mind that tornado and earthquake activity in Chewsville are around the state averages, so be sure to educate yourself on any emergency procedures within your target neighborhood.

Getting a loan for your dream home in Chewsville

The process of getting a home loan or refinancing is simple with Earnest

Your dream home in Chewsville awaits, but before you can think about buying, you'll need a home loan. Mortgage rates vary. How? It all depends on things like your credit score, ZIP code, down payment amount, purchase price, and needless to say, the reason for getting the loan in the first place. And just a tip: Be sure to pull your realtor aside and ask if you might qualify for a special rate or discount (such as veterans' rates) before deciding which mortgage rate to take on. In short, do your due diligence. Of course, maybe you're scanning the mortage rates in Chewsville so that you can refinance. You're not alone. Many people refinance to free up cash flow for other priorities like college funds or home renovations. The process doesn't need to be complex, especially wtih the help of Earnest. We'll let you know how much you can save and help guide you through important factors. We're here for you.

Common Questions About Chewsville 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.