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Home loans that make move in day come faster

Just like the rest of America, White Hall mortgages rates are extremely affordable right now. However, as the housing market begins to bounce back mortgage rates will increase with it. With beautiful homes on great land in White Hall, it's never been a better time to invest in a new home. Whether you're moving the whole family, or just settling down to retire, there is a home for you in White Hall.

Get more for your money in White Hall

A quiet town for any type of buyer

Whether you're looking for a traditional single family homes, historic homes, or a plot of land to build your own home White Hall has it! Privacy, serenity, and small town charm are all key factors to what makes White Hall a great place for anyone looking for a new home. In Fall 2016, according to Trulia, the median home sale price in White Hall was $218,800. Considering the above factors and White Hall's close proximity to Baltimore, this price is extremely affordable. Zillow predicts these prices will continue to rise throughout the year, slowly transitioning into a seller-friendly market. Take advantage of these prices and rates while they're still around!

White Hall's best home loan

Procuring a home loan doesn't need to be difficult

Before purchasing a home anywhere, you need to procure a home loan to obtain a contract. A lot can factor into your mortgage rates so make sure you discuss with your realtor how these can affect your rates, and if you're eligible for any discounts. Once you've done your research and applied for your mortgage, you are on step closer to owning a White Hall home! If you're looking to refinance your mortgage on your home the research process is similar. Refinancing can help you free up some of your money for life's exciting, yet expensive, events. However you want to change your mortgage, let Earnest help you save as much as possible. Whether you're purchasing or refinancing, Earnest can help you today.

Common Questions About White Hall 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.