Alert Message

One of a kind homes at great rates in Ladiesburg

Great rates are waiting for first time and experienced homeowners looking to buy a home in Ladiesburg. With low mortgage rates and the current propensity Maryland homes have to rise in value, there's really never been a better time to buy a home in Ladiesburg. Earnest can help you secure your dream home that will invest back in you for years to benefit you and your family. You've already found your dream home so let Earnest help you do what no one else can: making the home truly yours!

Ladiesburg mortgages are ready for you

All you need to unlock your new home is the right mortgage

Mortgage rates are very low in Ladiesburg currently, with rates dipping as low as 3.5 percent. Mortgage rates depend on so many different factors. Give Earnest a call to see what's possible with your budget and credit score. Maryland homes continue to rise in value year after year and Zillow predicts that they'll increase in value by 2.9 percent by next year. They've already increased by 4.3 percent in value since last year. Let Earnest help you buy a home in Ladiesburg so you can start your homeowning adventure.

Mortgage rates with grace and charm

Snag a great rate for great home prices in Ladiesburg

Congratulations on finding the home you’ve always dreamed of. To truly make it yours, you need to get your mortgage squared away. That’s where Earnest comes in. Earnest can help you get the best rate available and make sure that you get the best house for your budget. There's no reason to fret. Earnest can make this process as seamless as possible. Just looking to refinance? Earnest can help with that, too. Get back to what you care about. Let Earnest help you free up additional funds to use on your next big project.

Common Questions About Ladiesburg 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.