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Considering making Fort Pierce, Florida your home?

Fort Pierce is where you should settle down if you have always dreamed of living in a nice, quiet city with enough planned development and access to amenities. It has none of the glitz, glamor and the flashy lights of the big cities; and the city believes in responsible living. Prices here are hardly inflated or over the top. According to listings on Zillow, a three-bedroom 1,600 square-foot home can be had for $85,000; or a smaller two-bedroom 1,150 square-foot home for as low as $12,500.
Jacksonville, Florida, USA downtown city skyline.

Living in the Sunrise City

A place where you can take things slowly

There is the water where you could go swimming, snorkeling, scuba diving or kayaking; but you could also spend some quiet, quality time by the beach and feel refreshed. There is the Manatee Observation & Education Center, where you could see manatees in their natural habitat, and even touch them. Or you could visit Downtown Fort Pierce for a taste of history, and/or buy fresh produce from the Farmers’ Market there. 43,601 residents are proud to call Fort Pierce their home. Over 7,000 of them moved here after 2000, and the number of people settling down in Fort Pierce is increasing. There are both private and public high schools in the city, as well as a few private middle schools. Higher education needs are met by the Indian River State College, ranked among the Top 10 community colleges in the United States.
Jacksonville, Florida, USA downtown city skyline.
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Owning a home in Fort Pierce is now easy

Thanks to Earnest’s extremely low rates of interest

Why rent when you can own? The affordable prices in Fort Pierce, when coupled with what Earnest offers, make it a very viable proposition to own your home in ‘The Fort’. Simply get in touch with us to know more. We can pre-approve your mortgage, so that you can narrow your search down to the right home that best suits your needs. Thanks to the decline in global oil prices and the resulting slump in the economy, interest rates are currently at an all-time low. What’s more, Earnest's simplified paperwork makes the process of becoming a homeowner in Fort Pierce considerably easier. This is a place where the people take their time and do it right, according to someone who moved into the area. You can’t go wrong with a home in Fort Pierce, recipient of the ‘City of Excellence’ award in 2005.
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Common Questions About Buying a Home in Fort Pierce

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

People around a computer

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.