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Buying a home in Holiday is a sound decision

Holiday is located in Pasco County, Florida. It is a CDP (Census-Designated Place), whose population, according to a 2010 census is 22,403. It belongs to the metro area Tampa-St. Petersburg-Clearwater. The area's business-friendly climate has benefited Holiday as well, the economy is strengthening, the job growth is positive. Holiday has good schools and there is easy access to efficient healthcare facilities. Holiday's safe residential neighborhoods are perfect for families and retirees.
Miami Florida skyline of downtown colorful skyscraper buildings

Holiday is a beautiful, charming little place

Holiday - a quiet getaway on the Gulf coast of Florida

Holiday is bordered on the west by the Gulf of Mexico, to the east by Trinity, to the south by Tarpon Springs and to the north by the city of New Port Richey. The Gulf of Mexico can be accessed via several city parks, including the Gulf Park and the Anclote River Park. Holiday can ideally be compared to a beautiful, charming little vacation town. This quiet place is ideal for families and retirees. Holiday Lake Villas, Sand Bay, Key Vista, Gulf Trace and Aloha Gardens are some of the sought-after residential neighborhoods in Holiday. The cost of living in Holiday is less compared to the national average. 73% of the population in Holiday are homeowners. 41% of the residents are single. 98% of the Holiday residents commute by car. There are a number of good restaurants in Holiday.
Miami Florida skyline of downtown colorful skyscraper buildings
This is a beautiful photo capturing the Downtown Orlando Skyline at sunset.

A home in Holiday can financially benefit you

Earnest can find the right, budget-friendly home for you in Holiday

The home values in Holiday are going up. Investing in a home now can financially benefit you and your children in the future. Earnest can find you the right home in Holiday, one that suits your budget. Just let us know your preferences, whether you want proximity to schools/healthcare facilities and so on, and we will do the rest. Our online application process is simple and fast. The whole home-buying process need not be a stressful affair with Earnest. You can get in touch with our client support team for any queries/issues. Earnest can get you a mortgage to buy your ideal home in Holiday. Our mortgage rates are fair. Even if your credit score is bad, we can still approve your mortgage based on other parameters, such as your current financial position and your future earning potential.
This is a beautiful photo capturing the Downtown Orlando Skyline at sunset.

Common Questions About Buying a Home in Holiday

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.