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Thinking of settling down in Brandon, Florida?

This city is located just 20 minutes away from Tampa. More and more people are discovering the joys of living in Brandon, thanks to its extremely affordable home prices. A three-bedroom 1600 square-foot home costs just $80,000. If you need more space, a larger four bedroom 2,500 square-foot home can be had for $120,000. Or a 1,100 square-foot home for $40,000 if you don’t need all that space. There is something for everybody. And at prices that suit your budget.
Tampa, Florida, USA downtown skyline.

Living in Brandon

A place where you can experience excitement

Tampa is only 12.5 miles away, but you don’t need to drive that distance for anything. There are 103,483 people living in Brandon (as of the 2010 census), and a third of them moved here after 2000. There is always something interesting happening in Brandon. Movie theaters, gaming and entertainment centers, bowling alleys, spas, bars, clubs, specialty cuisine restaurants and shopping malls all themselves to the energy of the place. If you prefer the quiet, you could play a round of 18-hole golf or spend some time at the Paul Sanders Park, fondly dubbed the Tree Park by Brandon residents. The city is well-served by a network of both private and public elementary schools, middle schools and high schools. The higher education needs of Brandon are catered to by the Southern Technical College.
Tampa, Florida, USA downtown skyline.

Own a home in Brandon

Get the Earnest advantage today!

At Earnest, we offer the lowest rates. Get in touch with us, so that we can pre-approve your mortgage after looking at your financials. With housing prices way lower than Tampa, Brandon is the place you can call home. With Earnest, the mortgage will never burn a hole in your pocket. You don’t even need to drive a car, there are always buses to Tampa every 40 minutes. Buying a home in Brandon will prove to be the best investment you can make. Home prices have appreciated by 44% since 2000. Earnest’s rates guarantee that you will be able to finish paying off the mortgage faster and unlock the equity present in your home. We personally see to it that the paperwork is minimized and the whole process of home buying simplified as much as possible. Is there any reason for you not to contact Ernest?

Common Questions About Buying a Home in Brandon

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.