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Mortgage rates to fit everyone’s budget

Quantico, Maryland is the perfect place to raise your new family. The rich history and perfect location is ideal for first-time homebuyers. The mortgage rates are at an all-time low, so the time is now to buy your dream home. This area allows you to live large in a small town by the coast. Don't waste another minute deciding if you are ready to buy a home—get started right now!

Live comfortably in the town of Quantico

Live close to the water in your very own dream home

Quantico is a desirable small coastal town in Maryland that is the perfect place to start or raise a family. The area offers small unique shops and restaurants that are perfect for various family outings. Since Quantico is close to the coast, you will get the chance to visit that water any time you like which is sure to please outdoor enthusiasts in the family. Right now mortgage rates across the States are at an all-time low, and this area is no exception. Buying a home for the first time can be stressful, but with help from Earnest homebuying is easy. Make sure you turn to Earnest to help you get the best mortgage rate possible and to assist you through every step of purchasing your new home. Act fast, as these rates are predicted to rise over the next year.

Extremely low rates in Quantico

Getting a great mortgage loan has never been easier

Are you thinking about purchasing your first home in the small town of Quantico, Maryland? This area is perfect for those who love small towns but still have the option of living in a coastal community. The average mortgage rate for the area is an appealing 4.15 percent. Though buying a home can be exciting, it can also take you on a crazy roller coaster ride. With help from Earnest, we take care of all the “twists and turns” for you. We want you to enjoy the adventure of purchasing a new home for your family, which is why we will walk you through every step of the homebuying process. We will help you find all the answers you are looking for and help you find a home that is within your budget. Call Earnest today to start your hunt for your dream home today.

Common Questions About Quantico 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.