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Dunnellon is dubbed Treasure of the Nature Coast

Dunnellon is a small city and covers only six square miles within the central part of Florida. It offers visitors and residents a number of recreational activities. According to Zillow, the average value of a home in this central Florida city comes to $131,400. A wide range of properties are available. The bottom end of the property market comprises of studio flats and single family homes. Five or more bedroom apartments and triplexes dominate the creamier end.
Miami downtown at night, Florida, USA

Dunnellon has something that gives it an old charm

It has both natural beauty and an extremely interesting historic district

Dunnellon lies to the north opf Homosassa and to the west of Ocala. The city lies on the banks of the Withlacoochee and Rainbow rivers. It is termed “Treasure of the Nature Coast”. The city has something for everyone- be it a resident or a visitor to the city. The Rainbow Springs State Park attracts visitors from all over Florida and also beyond. The city streets are extremely clean and known by abundance of trees lining them. This is particularly striking in the Dunnellon Historic District. Residents of the city may engage in a number of recreational activities like river boat rides and swimming. Kayaking activities on the river are also popular. Big bass is available for baiting by fishing enthusiasts. The city is also favored by shoppers for snapping up unique gifts. Dunnellon have an unmistakable old time charm.
Miami downtown at night, Florida, USA
The dynamic Miami skyline at night and a couple of palm trees.

Purchasing your Dunnellon home doesn't get easier

We not only help you pay for your dream home, we also help you find it

Buying a residential property is counted as one of life's major investments. It follows that such actions must be preceded by deep and careful thinking. Earnest can assist you when it comes to taking a qualitydecision. Your decision will be an informed one after we will assess a number of factors, like your personal priorities when it comes to selecting a particular property and also your financial position. A number of personal factors come into consideration when selecting a specific property. These include distance from probable home to office and also other destinations like shopping malls, hospitals and even nightlife. Your purchasing power is extremely important in this regard. We will shortlist a number of neighborhoods for your consideration. It will help you to narrow down the list and you can enter your new home much quicker.
The dynamic Miami skyline at night and a couple of palm trees.

Common Questions About Buying a Home in Dunnellon

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.