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Finance your new home today

Mortgage rates are down across the country, but they won't last forever. If you're itching to make a move, now is the perfect time. Find your little slice of rural bliss in the Goldsboro countryside and enjoy a great mortgage rate. This lovely community offers the best getaway from city life with quick access to restaurants, shops, and entertainment.

Fall in love with the untouched bliss of Goldsboro

Styles and sizes to suit your lifestyle, or build your own

Beautiful colonial houses, cute cabins, and smart manufactured homes await you in Goldsboro. Come for the beautiful landscapes and stay for the affordability. The area easily accommodates a variety of budgets and family sizes while offering the best in quaint countryside living. With limited walkability and no public transportation, owning a personal vehicle is a must. Trulia reports the median sale price of homes in Goldsboro as $132,000, making it a great budget-conscious location for potential homebuyers. The cost of living is below average for Maryland, making this an incredibly affordable city to plant your roots in.

Goldsboro's most affordable home loans

Get the best mortgage rates or help with refinancing with Earnest

As a smart homebuyer, you know that securing a great loan is the most important step on the road to purchasing your new home. Even if you're relatively new on the market, you understand the importance of educating yourself on the right terms and rates, so you know right questions to ask. Earnest helps you do just that, simplifying the process so you can easily get preapproved and focus on what matters. Be sure to discuss rates and discounts with your realtor—you may qualify for special deals that will help cut down on the cost of your mortgage. If you already own a home in Goldsboro, Earnest can help you refinance your mortgage. Free up extra cash to pursue your long-time home improvement goals, or start a new savings fund to work towards an overarching goal like achieving higher education. Extend the length of your mortgage, or switch from an ARM to a fixed rate. Unsure? Earnest will help you make the decision that makes the most sense for your lifestyle and budget.

Common Questions About Goldsboro 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.