Alert Message

Buying a home in Navarre is a sound decision

Navarre is an unincorporated community located in Santa Rosa County, Florida. It is close to the Eglin Air Force Base, the Naval Air Station Whiting Field and the Naval Air Station Pensacola. Hence, a good percentage of Navarre's population include military personnel, civil servants and defense contractors. The city's crime rate is very low. The cost of living is high compared to the national average. Job growth has been positive over the past years. Navarre has top rated schools.
Historic downtown business storefronts on a city block in Jacksonville, Florida.

Navarre is 'Florida's Best Kept Secret'

It was off the coast of Navarre that Jaws 2 were filmed

Navarre is part of the metropolitan statistical area Pensacola–Ferry Pass–Brent. Its untarnished natural beauty is unprecedented. Nature enthusiasts from all over the country come to Navarre to immerse in its natural beauty and beautiful weather. Its emerald colored water is perfect for swimming. A picnic in the county park or on the beach is a favorite activity of many Navarre residents. The city offers a number of scenic bike paths for jogging/riding. Navarre has the largest fishing pier on the Gulf of Mexico. The mainland's park attractions include a duck pond, a splash pad and a butterfly house. If you love to live near water, then Navarre is the place for you. 99% of Navarre residents commute by car. There is easy access to good healthcare facilities in and around the city.
Historic downtown business storefronts on a city block in Jacksonville, Florida.
Saint Petersburg bridges

Owning a home in Navarre can be a good investment

Earnest can find the right home for you in Navarre and help you finance it

Navarre offers luxury homes, as well as budget-friendly homes. We can find you a home closer to the beach or one more inland. No matter where you live in Navarre, you are guaranteed a fun and healthy living. Home values have been going up in the recent years and it is predicted to go further up only. Time to buy a home in Navarre is now. It can be a good investment for the future as well. Our online application process is simple. You can contact our client support team for any queries/issues. Earnest can get you a mortgage as well. Our rates are fair and by fair, we mean the lowest possible. Even if your credit score is not good, we can still find a fair mortgage deal for you. The way we do it is by checking your current financial position and your future earning potential.
Saint Petersburg bridges

Common Questions About Buying a Home in Navarre

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.