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Fish, Surf and Golf at Jacksonville Beach

Jacksonville Beach is a part of Duval County. It is part of the Jacksonville Beaches communities with 5 other beaches in the area. These communities have independent municipal governments but can also vote in local elections in the City of Jacksonville. The area has a population close to 22,000 people and is also a popular tourist location. Visiting historic locations, water sports and strolls on the beach are popular activities amongst residents.
Scenic view of Ft. Lauderdale Beach, Florida

Jacksonville Beach offers different kinds of homes

Golf, Glistening Waters and Fun in the Sun

From vast beaches to the Jacksonville Pier, Jacksonville Beach is the perfect place for a relaxed lifestyle. Water sports, surfing, golf courses, amusement parks, museums – you name it, the city has it. The Cradle Creek Reserve also provide a great respite for residents from the hustle and bustle of the city. With its long boardwalk, lush woods and all kinds of birds – the Cradle Creek Preserve is a must visit. It’s proximity to the City of Jacksonville is also a great plus for residents. The Jacksonville Pier is the city’s pride as every resident can walk along it for a relaxed experience. Young families can stop by Adventure Landing – the city’s only amusement park. Players by the Sea is a leading theater within the city and hosts numerous plays. Art galleries are also prevalent throughout the city.
Scenic view of Ft. Lauderdale Beach, Florida
View of St. Petersburg. Saint Isaac's Cathedral from Palace Square in night

Jacksonville Beach homes that satisfy every buyer

Earnest makes home buying a breeze

Jacksonville Beach is nowhere close to being the typical beach town. It has a lot of offer to residents in terms of fun, history and culture. As such, homes in the area can be quite expensive. The median home price in the area is $254,400, which is much higher than the state’s average. Even with the high rates, over half the population are home owners. Buyers looking to become home owners at Jacksonville Beach will need all the help to cover all their bases. This is where Earnest can help buyers out – we can find your ideal price range and then your ideal neighborhood, using our metrics. After this process, we identify your dream home and help you manage the finances in order to buy it. Buyers can contact our client service team in order to get help with their financial options. This includes obtaining mortgages and re-financing.
View of St. Petersburg. Saint Isaac's Cathedral from Palace Square in night

Common Questions About Buying a Home in Jacksonville 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.