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Your West Palm Beach dream-home search starts here

Famous for its architectural preservation and natural beauty, West Palm Beach nestles along the Intracoastal Waterway between Riviera Beach and Lake Worth. WPB (as the locals affectionately call it) offers an unrivaled blend of historic charm and hip, eclectic style. Long known as the walkable city, WPB maintains miles of scenic bike paths including Palm Beach Lake Trail. Property values are on the rise, but interest rates remain low, making now a great time to buy a home in WPB.
Tallahassee, Florida, USA downtown skyline.

West Palm Beach leaves nothing to be desired

Award-winning events, culture, pristine beaches, and year-round sunshine

With a population nearing 100,000, WPB offers amenities and attractions that rank among Florida’s finest, including Antique Row, Kravis Center for the Performing Arts, and Norton Art Museum. The dazzling new $30 million waterfront development has created wildly popular attractions like City Place, filled with popular restaurants, eateries, and night spots. WPB is a study in eclectic neighborhood attributes. Families, young professionals, retirees, and investors will find an array of appealing homes at surprisingly favorable prices. Top-rated public schools boast national rankings, including premier institutions like the Alexander W. Dreyfoos School of the Arts. Private school options are available locally, and higher education is as close as Palm Beach State College, Keiser University, and Palm Beach Atlantic University.
Tallahassee, Florida, USA downtown skyline.
Carnival Ferris Wheel

Earnest can help you get your WPB dream home

Our application and low rates can make your home purchase happen quickly

The sheer variety of attractive homes, neighborhoods, and residential communities available throughout West Palm Beach may seem overwhelming at first glance. That’s where the expertise and inside area knowledge that Earnest provides adds real value to your home search. We can work with you to identify the most viable target neighborhoods so you can quicken the pace toward the home of your dreams. We start by helping you pinpoint and list your top priorities, including walkability, commuting time, family considerations, proximity to amenities and attractions, and access to outdoor recreation. Once we have a clear idea of your unique needs, we review your financial portfolio to determine your target price range. WPB offers a great value for your home dollar, with a median home price of $180,250.
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Common Questions About Buying a Home in West Palm Beach

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.