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Middleburg is a place to lead a peaceful life

Middleburg has started to emerge as a city with a nascent but thriving arts and culture scene. According to Zillow, the average value of a home in this Florida town is $160,400. Properties in this area vary in price. The single family home is the most economically priced. The most expensive ones are the duplex or triplex living units. Apartments are available. Studio flats cost less and finds favor among cost conscious buyers.
Jacksonville, Florida, USA downtown city skyline.

Middleburg's a small town oozing unbeatable charm

The town has more than its fare share of American history

Located at the northwest of central Clay County, Middleburg is situated 26 miles from downtown Jacksonville. It is found 16 miles to the northwest of the Clay County seat, Green Cove Springs. The town has a high school- the Middleburg High School. The Florida State Road 21 goes 21 kilometers towards Orange Park area. It also goes 37 kilometers southwest towardsKeystone Heights. The town has two primary attractions: the Saint Luke Catholic Church and Micky's Treasures. Micky's Treasures is a shop which sells bric-a-brac collected from different parts of the United States and also from the world. Customers visit the shop for its interesting goods which the owner has curated and bought. The Saint Luke Catholic Church is a beautiful building. It has a large congregation. A local artist has painted a mural.
Jacksonville, Florida, USA downtown city skyline.
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Buying your Middleburg home is now simple

Our assistance helps not only pay for your dream home, we help you find it

Purchasing a home of your own is a major decision. It is a large investment and thus needs a lot of consideration. The decision must be reached after a thorough analysis of both your personal priorities and also your unique financial condition. The list of personal priorities to consider includes access to your workplace from your potential home and also other necessary places like shopping areas, hospitals and schools. Night-life may also be factored in. The information can then be used to offer you a price range that is perfect to your needs. It will also shortlist a number of neighborhoods which will have all the facilities you may need. In short, you will have all the necessary information to take the best decision for settling down. Best of all, the information will be provided within a short span of time.
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Common Questions About Buying a Home in Middleburg

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.