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Buying a house in Jupiter, Florida made easy

Jupiter is a beach town along the Atlantic ocean. There are over 50 golf courses here along with numerous beaches, historic sites and water sport opportunities. The town is home to various celebrities and it is easy to understand why. If relaxation is on your mind then Jupiter is the place to be. Entertainment and diversity are never lacking, thanks to the city's proximity to nearby Miami. The area has experienced a lot of growth in the last 15 years with the population rising by 29.89 percent.
Orlando Florida, Lake Eola. ( Photograph with the Phantom 3 Professional at 400 feet altitud. )

Jupiter is the place to be!

Golf courses, beaches and a whole lot of fun

Cypress Links, Jonathon’s Landing, the PGA National Resort and other top of the class golf courses are located in Jupiter. In terms of beaches, Juno Beach Park and Jupiter Beach Park are popular in the city. There are also various sites that are perfect for scuba-diving including King Neptune and Breakers Reef. With over 55,000 permanent residents, Jupiter is a little piece of paradise that is low-key, easy going but never boring. Unlike more commercial cities, Jupiter is a relatively quiet place to live with it's own array of amenities to offer. Apart from a wide array of water activities, baseball plays an important role as major baseball teams like the Marlins and the Cardinals have spring training in the area. Historic sites like the Jupiter Intel Lighthouse and the Dubois house are popular among residents and tourists.
Orlando Florida, Lake Eola. ( Photograph with the Phantom 3 Professional at 400 feet altitud. )
Cocktails on the bar counter in night club.

Home buying in Jupiter made quick

Fast and simple processes to make home buying easy

The median home price in Jupiter is $268,800, which is significantly higher than the state's average. However, buyers can be assured that they are spending their money wisely as Jupiter is a perfect place to live. It is perfect for everyone with it's host of top schools and even better entertainment opportunities. If your dream home is in a location where you can mix work and fun seamlessly, then Jupiter is the place for you. Since buying a home is not a small investment, Earnest can provide more clarity and improve your decision-making capabilities. We use detailed metrics to make sure you can get a home at the best rates. We make it a note to cater to your top priorities for home-buying like type of neighborhood, safety, proximity to important locations and more. So your dream home can become a reality with Earnest by your side.
Cocktails on the bar counter in night club.

Common Questions About Buying a Home in Jupiter

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.