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Auburndale feels like a home city to come back

For a person seeing Auburndale for the first time, the metropolis appears to be a calm one. It is indeed ideal for setting up a home. According to Zillow, the average value of a home in Auburndale comes top $137,800. A variety of properties are available. These range from the highest priced five or more bedroom apartments and triplexes to the cheapest studio flat. Single family homes bring up the economically priced rear for cheap houses.
Miami, Florida, USA downtown aerial cityscape.

Auburndale feels like home from the start

It has an established and growing community where teamwork is present

Auburndale is situated 40 kilometres to Tampa's northeast. Orlando is 59 miles to the southwest. The city is perched on Central Florida Highlands within the Atlantic coastal plain area. The topography of the city is mainland flat broken by gently rolling hills. The city has a distinct homely quality. The urban community is a growing one. The city thrives on teamwork among its residents- education, recreation, sports and also business and industry. The community spirit is prominently present. The latter is one of the principal attractions for many visitors in the city ultimately making it their home. A number of highways and free-ways connect Auburndale with other American cities. The Interstate 4 leads to Tampa and Lakeland in the west and towards Daytona Beach and Orlando to the east. The SR 559 goes to Polk City.
Miami, Florida, USA downtown aerial cityscape.
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Buying your Auburndale residence is now easier

We will help you to get the money you want and locate your dream home too

Purchasing a home is one of the major turning points in anyone's life. It requires considerable investment. There are a number of factors to choose from. Location of the property is also important. Earnest can assist you to make an informed decision by analyzing both your personal priorities and also your financial status. The list of personal priorities include distance of the probable property from your workplace and also from the nearest healthcare centre. Public transportation availability is another important factor. Nightlife can also turn out to be a weighted decision maker. We will analyze all information to offer you a list of potential neighbourhoods and a better price range. You can then narrow down the search and move into your new home much faster. The whole activity will involve much less hassle.
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Common Questions About Buying a Home in Auburndale

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.