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Discover your new home in Fort George G Meade

With current mortgage rates lower than the national average, now is the perfect time to purchase your new home in Fort George G. Meade, Maryland. Whether you are searching for a spacious house, a cozy apartment, a place to settle down to raise the family, or just a place to escape the office, this Maryland city has just the thing for you and your loved ones. We've even built and included an easy-to-use calculator to help you get started figuring out your target home price.

Affordable mortgage rates for your budget

Find out what your budget will buy in Fort George G Meade

With a well-kept golf course, annual events, and multiple programs and facilities garnered towards youth and families, there is something for everyone here in Fort George G. Meade. Play a few holes at the Fort Meade Golf Course or explore the National Cryptologic Museum. You could also take a quick drive down to see the White House in Washington D.C., or over to nearby historic Annapolis. Whatever your interests, you'll find it here in Fort George G. Meade. The majority of houses in the area are single, attached houses, but this is not the only type of housing available. Walkability around this area is low; however, everything you need is within a convenient driving distance. Make sure to research any and all safety measures taken within your target neighborhood as tornado activity here is higher than the national average.

Perfect home loans for you

Easy mortgage rates and a simple application are waiting for you

If you've found your dream home, chances are you're now looking for a home loan to secure the deal. The mortgage rates you find will depend on a variety of factors such as ZIP code, the purpose of the loan, and your credit score. When researching mortgage rates, especially if you are a veteran, make sure to talk to your realtor about any discounts for which you may be eligible. Or, maybe you've already purchased your dream home and are now looking to refinance. If that’s the case, the process is just as easy. Earnest can help you switch from a 30-year to a 15-year term, or vice versa, or even switch from a fixed rate to an ARM. Whatever it is, Earnest provides the perfect platform and process for meeting your financial needs.

Common Questions About Fort George G Meade 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.