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A Brooksville home is worthy of your legacy

Brooksville is full of history, farms and nature. It has none of the hustle and bustle of the big cities, and so your children will definitely appreciate it if you bequeath a home in Brooksville to them someday. According to City Data, the median value of a home here is $44,672. However, according to listings on Zillow, an average three-bedroom 1,900 square-foot family home would cost you around $190,000. At the high end, a new 2,800 square-foot home in a gated community costs $389,000 to own.
Colorful Vacation Homes on the Florida Keys

Living in Brooksville

‘A great taste of the outdoors’

You will love Brooksville if you enjoy a good game of golf. The Sherman Hills Golf and Country Club has a full 18-hole course that finds favor with both beginners as well as intermediate experienced players. Then there is the World Woods Golf Club, ranked among America’s 100 Greatest Public Access Golf Courses by Golf Digest, which also called it the Best in the State of Florida. The Rivard Golf Club, the Southern Hills Plantation Club (this has a Pete Dye signature course) and the Hernando Oaks Golf & Country Club are other places where you can hone your skills at the tee. There are also plenty of other things to do. The Chinsegut Wildlife and Environmental Area offers you chance to connect with nature, and if you like spending quiet time by the water, there is the McKethan Lake Nature Trail for you.
Colorful Vacation Homes on the Florida Keys
Family day at the beach on Amelia Island, Florida.

Get a home in Brooksville

Earnest’s low rates and simplified paperwork make it an easy affair!

If you are a first-time home buyer, you could get up to $2,000 every year under the Florida First Time Home Buyers Grant Program. Earnest pre-approves your mortgage, so that you can quickly start to look at all the lovely homes that you know you're already qualified for. Living here can be a pleasant experience. Apart from the city being nestled in the lap of nature, there is also plenty of history around. The Chinsegut Hill Museum in Brooksville takes you back in time and enriches you with the history of Florida. There are also a number of schools here that serve PreK-12 education needs. If you already own a home in Brooksville, consider getting it refinanced. With rates as low as they are right now, moving to a fixed rate mortgage from an adjustable rate mortgage could save you thousands of dollars in the long run.
Family day at the beach on Amelia Island, Florida.

Common Questions About Brooksville Mortgage Rates

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.