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Invest in Conowingo today

Conowingo has a lot of really great homes and they're available at incredible prices. The natural beauty of Conowingo is greatly complemented by the stunning homes that are available for purchase. With how low these mortgage rates are and how affordable the homes are, now really is the best time to invest in a home in Conowingo. You won't regret it.

Conowingo mortgages are simple, fast, and easy

Now it's time to go and a mortgage

According to Zillow, Conowingo home values appear to be on the rise, and the market seems to be stabilizing as well. Conowingo homes are extremely affordable, and there are luxury homes in your budget that more than likely would not be if they were located in a different city. Mortgage rates are great right now, too. Currently Bankrate shows rates as low as 3.8 percent for 30-year fixed mortgages and, of course, you may even qualify for a better rate or lower payments depending on many factors that Earnest can discuss with you, like your credit score, down payment, and more.

Earnest can help you with your mortgage

Once you have your mortgage then you can finally call Conowingo your home

Have you found the home that you've been searching all this time for? Congratulations. This means that the heavy lifting is finally over because Earnest can help walk you through the process of securing your mortgage and purchasing your home. Earnest specializes in this, so there's no need to worry. Earnest knows which questions to ask you, which discounts you might qualify for, and how to get you the best deal possible on your new home. If you've been thinking about refinancing, then that's also something that Earnest can assist you with. Before you know it, you'll be putting that newly acquired money to good use for your big vacation, home renovations, or whatever you're planning on using the money for.

Common Questions About Conowingo 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.