Alert Message

Buying a house in Port Saint Lucie? We can help!

Port Saint Lucie is a vibrant city skirting the Florida east coast. It is home to the City of Fort Pierce and has 21 miles of pristine beautiful beaches. According to Zillow, the average home value in the city is $188,900. Buyers can take their pick from studio apartments to five or more bedroom luxury residences. The average price is $132 per square foot. The type of homes available range from single family residences to top of the line triplex places.
Panama City Beach, Florida, view of Front Beach Road at night during blue hour

Port Saint Lucie's a new and vibrant metropolis

Home to championship golf and nature adventures ideal for eco-tourists

Located along the Atlantic Ocean shore, with Orlando 120 miles to the northwest and Miami 115 miles away, Port Saint Lucie has direct access from Interstate 95 and Florida's Turnpike. The city offers undisturbed beaches, river cruises and nature parks. Baseball fans and golf enthusiasts can find a number of opportunities in Port Saint Lucie. The place has 21 miles of natural and unspoilt beaches. Residents can swim, sunbathe and walk along the beach. Facilities are available in Fort Pierce or on Hutchinson Island. The natural beauty of the region is on display in Oxbow Eco-Center, a preserve on St. Lucie river. Naturalists guide visitors to observe native flowers and plants of the area. The PGA Village offers championship golf of 54 holes. PGA professionals are available to offer instructions.
Panama City Beach, Florida, view of Front Beach Road at night during blue hour
View of St. Petersburg. Saint Isaac's Cathedral from Palace Square in night

Buying a Port Saint Lucie home is now child's play

We have a product offering that can be hard to beat

Home buying can be considered as a significant investment which requires due consideration. Multiple factors must be considered prior to coming to a decision. Earnest can assist you to make an informed decision. This is done by analyzing both your personal priorities and also the location of your preferred home. Earnest can help you to make your decision faster by minutely analyzing both your personal wants and financial standing. We will then utilize this information to offer you an ideal price range. You will also be provided with a list of neighborhoods which matches your needs.
View of St. Petersburg. Saint Isaac's Cathedral from Palace Square in night

Common Questions About Buying a Home in Port Saint Lucie

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.