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Fernandina Beach is in stunning Amelia Island

Fernandina Beach has it all, a more than a slice of history perfectly complemented by a round of leisurely golf in the world class golf courses. According to Zillow, the average value of a home in the place is calculated to be $306,600. Property prices vary with the single family home unit and studio flats being the most affordable. Premium properties include triplexes and apartments with five or more bedrooms.
Miami waterfront skyline looking east along the Miami river

Fernandina Beach is at Florida's northeast border

It is known as “Isle of 8 flags” for its rich and colorful history

Fernandina Beach is situated at the northeast border of Florida, on Amelia Island. The city is known throughout the state for hosting the crowd pulling Eight Flags Shrimp Festival. The central part of the city offers an excellent selection of shopping destinations. There is a wide range of high end restaurants serving sumptuous food as well. Amelia Island has miles and miles of pristine beaches. The clear and calm waters of the sea look inviting. Posh resorts dot the seashore. The city has its fair share of world class resorts and fashionable spas. Its resorts and spas combine to give the city residents a place to be proud of. Festivals happen all around the year and they are distinctively Floridian. No wonder Fernandina Beach have been ranked highly in the state's go-to-island destinations.
Miami waterfront skyline looking east along the Miami river
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Buying your Fernandina Beach home is now easy

We don't simply help you pay for your dream home, we can help you find it

A home is a major investment. It takes a lot of money to buy property. You should consider every factor carefully before selecting a specific property. Earnest can help you to buy the best property you can afford. We will analyze both your personal requirements and financial position prior to sending you a shortlist of properties to browse through. Factors like the proximity of the proposed property to your office or shopping destination is considered. Access to healthcare and public transport are also factored in. Your financial strength is examined before we choose a particular neighborhood for you. This will help you to settle down quickly and with minimum hassle. All choices made by us will meet all your exacting requirements.You will get the keys to your dream home as fast as possible.
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Common Questions About Buying a Home in Fernandina Beach

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.