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North Port is a city of fun for kids and adults

The city located between Fort Myers and Tampa in Sarasota County, Florida. A few of the world's best beaches are only a short drive away. According to Zillow, the average home value in the city is $173,900. Property buyers have the choice of purchasing studio apartments at the affordable end of the scale. Single family homes make the cheapest houses. Most expensive ones are five or more bedroom apartments and triplexes.
Tampa, Florida, USA downtown skyline.

North Port is a city focused on raising children

The city has a number of recreational facilities including 26 parks

North Port is only a short distance away from a few notable attractions in Florida. Residents and visitors alike can easily enjoy a thriving arts and culture scene and revel in amazing live performances. All these increases the quality of life of the city's residents. Charlotte Sports Park makes an excellent location for sports tournaments, special events, corporate functions and a number of other recreational activities. The Marie Selby Botanical Gardens is an urban tropical oasis having unmatched horticultural displays. It is set on the stunning Sarasota bay. This botanical garden is internationally known for its education, conservation and research. The Players Theater is the community theater of Sarasota. It delivers quality productions of a number of main stage classics. The organization is noted for its deeply intimate setting.
Tampa, Florida, USA downtown skyline.
Family day at the beach on Amelia Island, Florida.

Buying your North Port home is now child's play

We not only help you pay for your dream home, we also help you find it

Purchasing a home is one of the life's pivotal points. It requires due consideration. Your head must rule your heart. Many factors should be considered. You must consider a broad range of locations and properties before you select one particular one. Do not hesitate to take tough decisions. You must meet your financial obligations not only in the present but also in the future. Earnest will assist you to take a better decision by taking into account both your personal needs and financial position. We will then utilize this information to offer you both better neighborhoods and an affordable price range that will suit your needs. You will never feel pressure to do certain financial activities. This will assist you make better choices and without any compromise.
Family day at the beach on Amelia Island, Florida.

Common Questions About Buying a Home in North Point

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.