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Buying a house in Clearwater? Help is at hand!

Clearwater and its stunningly beautiful island beaches has something for everybody. It has fascinating arts museums, and historical buildings dot the urbanscape. According to Zillow,the average home value in this Florida city clocks $184,900. It is predicted that property prices will increase by 4.8 percent within end 2017.Earnest, with its extensive knowledge of the Clearwater property market, can help you to acquire your dream home at an affordable price.
View of Miami at sunset, special photographic processing, USA

Clearwater has endless beauteous beaches

Perfect for aquatic activities, and raising a family in a safe environment

Clearwater beaches are routinely rated among the best in the United States. Residents and visitors enjoysoft white sand and sparkling waters. Active adults and children have a wide range of activities to choose from.Bus services to Clearwater are available from Tampa. Amtrack connects the city to Saint Petersburg. Other than the beach, the coastal city has aquariums, sports fields, parks and gardens. Residents can swim, sail and parasail all the year around. Parks and gardens provide the perfect venues for a leisurely stroll. The avid golfer has a number of golfing venues to play in. Clearwater Marine Aquarium is known for its animal rehabilitation and research. It also educates the public. The organization has a number of exhibits and resident animals like otters, dolphins, sting rays and sea turtles.
View of Miami at sunset, special photographic processing, USA
4th of July fireworks at Miami Beach, Florida.

Earnest makes buying Clearwater property easy

We help you find your dream property and assist you to pay for it too

A property purchase is a momentous decision in any person's life. It is important you should buy a property which you can afford now and not later. Circumstances may change and your expense could increase. There should be ample room in your budget so that you can live the quality of life you want. Local transportation options should also be taken into account.Earnest factors in your personal priorities and financial information to offer you the best price range and the neighborhoods which would best satisfy your needs. You can operate on your own time-line and settle down fast without any hassle.
4th of July fireworks at Miami Beach, Florida.

Common Questions About Buying a Home in Clearwater

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.