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Shady Side has wonderful homes at great rates

Shady Side mortgages are sitting at great rates and there are beautiful homes just waiting to be purchased. There's something for everybody in Shady Side, and the only restriction is the one that you set with your preferences and budget. Trulia shows homes listed between $40,000 and almost $2,000,000, so there's really no limit. Again, it just depends on what you're wanting in your forever home. The homes are all great and would cost much more in other cities. Shady Side is lovely.

Get a great mortgage and enjoy life

There are plenty of homes in Shady Side and all you need is a mortgage

Now is the best time to purchase a home in Shady Side because prices are good, rates are low, and home values continue to rise each and every year. According to Zillow, home values are up by 6.2 percent from last year and they're expected to rise an additional 2.9 percent by next year. Zillow shows that home values in Shady Side have been rising without fail since 2015 and have been in full recovery ever since then. Invest in paradise and comfort in Shady Side today. According to Bankrate, mortgage rates have been around 4.13 percent and appear to be staying around that percentage, so now is a great time to purchase a home. Your family home could be the one of the best investments you've ever made.

Get a great mortgage today

If you want a spacious home at an affordable rate, consider Shady Side

Buying a home can be scary, especially if it’s your first time buying a home. Even if you've been through this before, it can still be a little nerve wracking, and it's comforting to know that you've got someone on your side like Earnest. There are so many things to worry about when you buy a home and it's great that there are companies around like Earnest that can help guide you through the otherwise stressful and crazy process. If you're thinking about refinancing and checking out all of your options, then Earnest is still a great company to contact because they'll make sure the process goes quickly and you get the most money that you're entitled to so you can quickly move onto the activity that you needed the money for instead of stressing over how you're going to acquire the money.

Common Questions About Shady Side 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.