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Port Orange property prices rising. Invest now!

The city falls within Volusia County, Florida and is part of the Deltona- Daytona Beach- Ormond Beach area. Port Orange is a major hub in the Fun Coast and is known for its educated populace. Median home values are slightly over $180,000 here, according to Zillow and they have been on the rise over the past year. However, Zillow experts believe that there is still room for price rise here, meaning this is a good time for investing here.
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Port Orange- Perfect place for a family

Beaches, culture, schools, great weather- it has everything!

Port Orange is the perfect location to buy into if you are starting a family or you want your kids to grow up in a good neighborhood. The main attraction of this Florida city for families is that there are seven colleges and universities right here. Schools here have an A rating, and the Spruce Creek High School has been featured on top 100 schools in US lists for several years now.Add to this the Advanced Technology Center and you can see that Port Orange residents need not go far at all to get educated and trained optimally to enhance their career prospects. For those in the education or health care sector, looking for career opportunities here is bound to be easy because these are Port Orange’s largest employers, sector wise. In recent years, there has been a steady influx of technology companies to the city as well.
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Port Orange homes are affordable now

Buying a home is not time consuming or tedious anymore with Earnest

Investing in a home should never be an impulse decision. Taking expert guidance from the home selection stage helps make the right investment decision that offers excellent ROI. Earnest experts help you understand what to look for in a property, how to verify that it matches your needs and then negotiate for the best price too. We also help you get an affordable mortgage to complete the home buying process with ease and within the shortest span of time. We will understand your finances, your future needs and your dreams and help you locate the ideal Port Orange home. Talk to us today.
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Common Questions About Buying a Home in Port Orange

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.