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Dip your toes in the sand and relax in Venice

Venice is touted as being one of the happiest seaside cities in the world. Located in Sarasota County, the city is booming and offers top class amenities in all areas. Filled with theaters, shopping centers, hotels and parks, Venice is quite the tourist hot spot. Venice Beach is located in the city and is hailed as the shark tooth capital of the world as there is an abundance of fossilized shark teeth on it's shores. Local residents also enjoy easy access to all the amenities one could need.
Jacksonville, Florida, USA downtown city skyline.

Venice is the perfect place to live

Sun, sand and fun all year round

Many buildings and locations in the city have been registered into the National Register of Historic Places.Some of the city's older buildings that have been added to the registry have been turned into museums that are a popular attraction for both locals and tourists. Residents can also enjoy themselves at the Venice Theater, the largest community theater (per capita) in the US. The theater has hosted many touring Broadway shows and symphonies, as well as memorable plays. With palm trees lining the streets and amazing beaches, the city is perfect for those with a relaxed lifestyle. The Fishing Pier also definitely deserves some attention. The city is perfect for residents of all age groups and has one of the lowest crime rates in the nation. The area is a pleasant one and is perfectly suited for families and retirees.
Jacksonville, Florida, USA downtown city skyline.
big tent for the adults and small tent for the children at campground

Home buying in Venice has never been easier

Fast application and even faster service at Earnest

The median price of a home in Venice is $183,200 – this is slightly higher than the state average but the booming city is definitely worth the money as all indicators point to prices not reducing any time soon. While deciding on homes to buy in the area, a degree of indecision may arise as there are so many great localities to choose from. Over 70% of the people in the city are home owners and you can be one too. The first step is to figure out your ideal price range and then checking what areas are affordable. You can locate your dream home without even stepping foot in the city. We can also find the house that suits all your needs (close to the beach, proximity to schools, etc). At Earnest, we help you get the best rates and discounts. Any buyer can get the help they need by simply filling out an online application form.
big tent for the adults and small tent for the children at campground

Common Questions About Buying a Home in Venice

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.