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Finding the right home in Casselberry

Even though the cost of living and the housing prices went up in Casselberry in the recent years, considering the many amenities that the city offers, it can be seen as pretty reasonable. The city is located centrally in Florida, so access to the many facilities offered by Florida itself is easy. The city has a good high-tech presence. Siemens and IBM are some of the notable employers. Casselberry is a popular destination for businesses. There are many quality restaurants in the city as well.
Miami waterfront skyline looking east along the Miami river

The Job growth is positive in Casselberry

The city has many neighborhood parks and notable recreational centers

The city of Casselberry is located in Seminole County, Florida. According to a 2010 census, the city has a population of 26,241. The city is linked to the Metropolitan Statistical Area, Orlando–Kissimmee–Sanford. It was on on July 25, 1965, that the city was incorporated. There are many tourist venues in and around Casselberry that tourists from all over the country, and even from around the world, flock to. It was in the 1970s that the Walt Disney World was established in the metro area. The convention industry is second only to Las Vegas. The city hosts many music festivals and food festivals. Casselberry celebrated its 75th-anniversary last year. Notable among the many events conducted was the Food & Wine Festival and the Latin Jazz Festival. The Casselberry Art House is a favorite destination for artists from all over the country.
Miami waterfront skyline looking east along the Miami river
Carnival Ferris Wheel

A home in Casselberry on a budget is possible

Earnest can help you find a home in Casselberry that fits your budget

There are many modern amenities offered by Casselberry. It is not very hard to find a job in the city. Casselberry has tranquil residential areas. Living in a city like Casselberry has many advantages. Even though the house prices has been increasing in the recent years, it is still possible to get a home that suits your budget. Earnest can find you that house. Even if you have to go a little above your budget, buying a home right now in Casselberry can be a solid investment for the future. The city's economy will only go up. Earnest can get you the best mortgage deal as well.
Carnival Ferris Wheel

Common Questions About Buying a Home in Casselberry

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.