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Buying a home in Crestview is a wise choice

Crestview is one of the fastest growing cities in Florida. It is known as Northwest Florida's 'Hub City'. The city is expanding faster than any other cities in the region. Crestview has the highest development rate in both housing and retail sectors. The job growth has been positive over the past few years. The city is seeing huge residential developments. The cost of living is lower than the national average. Its year-round nice weather is one of the high-points of living in Crestview.
Tampa, Florida, USA downtown skyline.

The city once known as the 'icebox' of Florida

Crestview takes pride in taking care of its residents and their needs

Crestview is located in Okaloosa County, Florida. It is Okaloosa County's largest city. According to a 2010 census, Crestview has a population of 20,978. It is the principal city of the metropolitan statistical area Fort Walton Beach-Crestview-Destin. The city has close proximity to Eglin Air Force Base. Crestview is served by Amtrak Sunset Limited and Bob Sikes Airport. There are 14 schools in the city. 98% of the population in Crestview commute by car, only 1% take advantage of the transport system. Crestview has a number of wonderful neighborhoods. You would be able to find a lot of historic, traditional homes in the city. The residents of Crestview have easy access to a number of jobs. The city hosts many annual parades. The Fall Festival attract people from all over the country.
Tampa, Florida, USA downtown skyline.
Sisters at the ocean

Owning a home in Crestview on a budget is viable

Earnest can find you a home in Crestview that fits your financial position

Earnest can find the right neighborhood for you in Crestview. Whether you are looking for a neighborhood that has proximity to schools or healthcare facilities or near to an area where the nightlife is vibrant, we can find it for you. We can find you budget-friendly homes, as well as expensive homes. Our online application process is simple and fast. We have a competent client support that you can get in touch with for any information. Earnest can help you get a mortgage as well. Even if you do not have a good credit score, we can still get you a mortgage with a fair rate. How do we do that? We look at more than just your credit score, we also analyze your savings, earnings, and future potential earnings as well. Based on these metrics, we will figure out a fair mortgage rate for you.
Sisters at the ocean

Common Questions About Buying a Home in Crestview

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.