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Earnest knows Casselberry's current housing market

Why Earnest is so confident in claiming that we can find you the right home that fits your budget is because Earnest keeps a track of the latest housing market trends, and does a lot of research. The time to buy a home in Casselberry is now. As of now, $171,500 is the median home value in the city. The 'per-square-foot' median list price is $117 ($123 is the Orlando Metro average). 2015 saw the home values going up 8.5%. According to Zillow, within the next few years, the value will rise 5.4%.
The old Florida State Capitol building as seen from Monroe St and Apalachee Parkway with the New Capitol in the background

Casselberry has a public pool and a dog park

The city has a diverse employment base, thus offering more opportunities

Casselberry was initially an agricultural town. The population was sparse. Then businesses found the place an ideal place to do business. As a result, more and more businesses came into the town. Casselberry soon became a 'happening' city, with thriving business districts. As of now, the city is headquarters to many service businesses, including Ruths Chris Steakhouse and Hard Rock Cafe. The prominent employers in the city are IBM, Northrup/Grumman, General Dynamics, Electronic Arts, Veritas, and Siemens. Casselberry enjoys a central location in Florida. The city's efficient transportation network provides easy access to the nearby areas of the city. The city has an excellent air service as well. Summers are warm, and Winters mild. The cost of living went up in the city in the recent years, however, it still is below the national average.
The old Florida State Capitol building as seen from Monroe St and Apalachee Parkway with the New Capitol in the background
Orlando, Florida cityscape and skyscrapers with reflections of Lake Eola at night with palm trees, fountain and swans.

Getting a mortgage is hassle-free with Earnest

Earnest can help to refinance your mortgage with the best interest rates

Buying a home is most often a once-in-a-lifetime process for many people. Hence, it is vital that you find a home that is just right to bring up your children and to spend your retirement in peace. Hunting for a house and the paperwork involved can stress out a lot of people. However, if you choose Earnest, we can make the whole experience a pleasant one. Just provide us with your budget, and we will find the right home for you in Casselberry. If you are looking for expensive homes with all the modern amenities, we can find you that as well. If you are worried that you will not get a mortgage because of a bad credit history, we can work with you, and do everything possible to get you one, and that too at a fair interest rate. We can help to refinance your mortgage too, get you the best deal possible, based on the current market condition.
Orlando, Florida cityscape and skyscrapers with reflections of Lake Eola at night with palm trees, fountain and swans.

Common Questions About Casselberry 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.